Belcorp: How a Peruvian MLM is Replicating Its Success in the US

Belcorp’s success as a direct-selling company is evident in the fact that Direct Selling News ranked it as the 18th largest direct-selling company globally in 2022.

The company had tremendous success in multiple South American countries before venturing into the US. After applying its proven direct-selling model within the US, it fully embraced multi-level marketing.

This analysis covers all the critical factors that make it incredibly successful.


  • Belcorp is a direct-selling company based in Lima, Peru, with over 50 years of experience in the beauty industry, offering products through its brands L’Bel, Ésika, and Cyzone.
  • The company has a strong market performance, achieving revenues worth $1 billion in 2021, operating in 14 countries, and having over 7,500 employees.
  • Belcorp uses a direct selling/multi-level marketing approach through a network of more than 800,000 independent sales representatives worldwide, offering various earning opportunities and commissions based on sales and recruitment.

Section 1 – The Company

The first section covers Belcorp’s company profile. We analyze the company’s history, market performance, and other relevant information concerning its operation.

Overview of Belcorp (Video)

Belcorp Peru S.A.C. (Belcorp USA in the US) is a direct-selling company based in Lima, Peru, with 50 years of experience in the beauty industry. It manufactures, distributes, and retails beauty products through its brands L’Bel, Ésika, and Cyzone.

Note that, in the US, Belcorp operates with its L’Bel USA brand as well as the Ésika brand.

Market Performance

This company achieved revenues worth $1 billion in 2021, and operates in roughly 14 countries, including: Bolivia, USA, Colombia, Mexico, Brazil, Puerto Rico, Costa Rica, Guatemala, Ecuador, and Peru. Plus, it has more than 7,500 employees.

Here’s an overview of the company’s historical revenues: 

  • $880M – 2020
  • $1.17B – 2019
  • $1.16B – 2018
  • $1.14B – 2017
  • $1.09B – 2016
  • $1.20B – 2015
  • $1.40B – 2014
  • $1.96B – 2013
  • $1.9B – 2012

Who Founded Belcorp?

Eduardo Belmont Anderson is the founder behind Belcorp. According to Forbes, his net worth in 2021 was $1.1B.


Belcorp was founded in Peru in the year 1968. It operated as a single-level direct-selling company. Eduardo Belmont started the company to bring the luxury French skin creams and perfumes to Peru, while also seeking to empower women financially.

Eduardo actually started the company under the name Yanbal, with his brother Fernando. Afterwards, the brothers separated in 1988, with Fernando taking Yanbal’s operations in Colombia and Chile (and a company called Unique in Peru), while Eduardo took Yanbal’s operation in Peru (and a company called Ebel in Colombia and Chile).

Following many years of success in Peru, Belcorp brought its L’Bel brand to the US in 2005. Maria Montoya was in charge of the launch of Belcorp in the U.S.

For about five years, it operated as a single-level direct-selling company in the US, just like the parent company, before converting into a multi-level marketing company, starting with the US subsidiary.

Belcorp logoPin

Who is the CEO of Belcorp?

The current CEO is Erika Herrero.

Who is the Owner of Belcorp?

Eduardo Belmont Anderson still retains at least a 95% stake in Belcorp. He’s also the president of the company.

Where is the Belcorp Headquarters?

The company’s global headquarters is located in Peru at Av. Pardo y Aliaga 652 San Isidro, Lima.

The US location is found at 1111 Brickell Avenue 10th Floor, Miami FL 33131.

Section 2 – Business Model

In this section, we analyze Belcorp’s business model. This involves the company’s sales system and the potential opportunity for independent sales representatives.

How Does Belcorp Market Its Services?

Belcorp uses direct selling/ multi-level marketing through its network of salespeople globally.

How to Make Money on Belcorp

In the US, Beauty Advisors’ income streams depend on their level in the compensation plan.

The first income stream is profits from personal sales, whereby, you earn up to 50% profit on all your sales. Here is an overview of the commissions:

Sale ValueCommission
$600 or more50%
$450 – $599.9940%
$300 – $449.9935%
$150 – $299.9930%

Next, is the Beauty Advisor phase that pays you the following bonuses and commissions on sales, recruitment, and development of team members:

  • $150 Fast Start Bonus
  • Development Bonus of up to $120 per sponsorship
  • Commissions earned from Tier 1-4
  • Coaching 700 (up to 3%)

In the Executive phase, you’ll earn:

  • Business Bonus of up to $300
  • Team Building Bonus of up to $80 per leg
  • Consistency Bonus of up to $72,000

Once you get to the Director phase, you’ll earn:

  • Turbo Infinity Commission (up to 2%) from your 5th level
  • Commission for Generation of up to 5%
  • Commission for Executive Generation of up to 1%

In Peru, Beauty Consultants have three general ways to earn:

  • Commissions on client purchases (between 25% and 40% based on the order amount)
  • Referring other Beauty Consultants or shipping to them (a 20% to 40% discount based on the order amount)
  • Exclusive offers of up to 60% discounts

The specific earning options in Peru include:

  • Discount scale:

This Discount scale offers commissions on different order amounts as indicated below.

Order AmountS/ 150 – 229 (USD 39.84 – 60.82)S/ 230 – 599 (USD 61.09 – 159.09)S/ 600 – 1,199 (USD 159.35 – 318.44)S/ 1,200 – 2,399 (USD 318.71 – 637.15)S/ 2,400+ (USD 637.41+)
Online Store20%25%30%35%40%
  • Start program:

Here, you get free products in your first 6 campaigns worth S/ 600.00 (USD 159.35), and get exclusive offers with discounts of up to 70% which you can sell at list price.

  • Digital offers:

These exclusive offers are available in the GANA Magazine or GANA+ section of the App ésika Conmigo, as well as the website address:

  • Unbeatable prizes:

These are rewards for checking out or referring new Beauty Consultants. There are also contests to win prizes in every campaign.

Belcorp’s Compensation Model

In the US, Beauty Advisors rise through 14 ranks with the following qualifications:

  1. Beauty Advisor (BA) – An active and qualified salesperson.
  2. Senior Beauty Advisor (SrBA) – Generate $300+ PV and recruit at least one Beauty Advisor.
  3. Expert Beauty Advisor (EBA) – Generate $350+ PV and recruit at least two Beauty Advisors.
  4. Specialist Beauty Advisor (SpBA) – Generate $400+ PV and $1,500 GV (Group Volume) with your team, plus recruit 2+ Beauty Advisors.
  5. Executive (E) – Generate $450+ PV and $3,000 GV, plus recruit 3+ Beauty Advisors.
  6. Advanced Executive (AE) – Generate $500+ PV and $5,000+ GV, plus recruit 4+ Beauty Advisors.
  7. Principal Executive (PE) – Generate $500+ PV and $7,000+ GV, plus recruit 4+ Beauty Advisors and 2+ Specialist Beauty Advisors.
  8. Director (D) – Generate $500+ PV and $12,000+ GV, plus recruit 2+ Beauty Advisors, 1+ Specialist Beauty Advisor and 1+ Principal Executive.
  9. Prestige Director (PD) – Generate $500+ PV and $25,000+ GV, plus recruit 2+ Beauty Advisors and 2+ Principal Executives.
  10. Elite Director (ED) – Generate $500+ PV and $50,000+ GV, plus recruit 3+ Principal Executives and 1+ Director.
  11. Premium Director (PrD) – Generate $500+ PV and $100,000+ GV, plus recruit 4+ Principal Executives and 2+ Directors.
  12. Executive Director (ED) – Generate $500+ PV and $250,000+ GV, plus recruit 4+ Principal Executives and 2+ Prestige Directors.
  13. National Director (PE) – Generate $500+ PV and $700,000+ GV, plus recruit 5+ Principal Executives and 2+ Elite Directors.
  14. Grand National Director (GND) – Generate $500+ PV and $2,000,000+ GV, plus recruit 5+ Principal Executives, 1+ Prestige Director and 2+ Premium Directors.

Here is an overview of the commission structure for the Beauty Advisor and Executive phases:

Belcorp compensation plan - Part 1Pin

For the Director phase, here is the commission structure:

Belcorp compensation plan - Part 2Pin

The Director phase also has extra commissions not available in the previous phases. Here is an overview:

Belcorp compensation plan - Part 3Pin

How Many Belcorp Distributors are There?

So far, Belcorp has more than 800,000 independent sales people globally.

How to Sell Belcorp’s Products?

Beauty Consultants can sell Belcorp’s products through:

  • Catalogs: The company provides physical catalogs to show the products to customers and convince them to buy.
  • A personal online store: The company also provides this so your customers can buy through your store.

Is There a Minimum Order Amount to Start Earning?

In Peru, Belcorp indicates that there’s no minimum order requirement to earn through the personal online store. However, sales by catalog have a required minimum amount of S/ 150 (USD 39.84). The minimum may vary by campaign.

In the US, Beauty Advisors are categorized as being Activated and Qualified (AC) when they achieve $300+ of Personal Volume (PV). To stay active, you need $150+ PV.

How Much Money Can You Make With Belcorp?

According to Belcorp, Beauty Consultants in Peru can earn up to S/ 2,800 (USD 743.65) in their first 6 campaigns.

How to Join

You can join as a Beauty Consultant through the following steps:

  • Sign up on Belcorp’s website by filling in your personal information, validating your identity, and adding your address.
  • Buy a starter kit with products from L’Bel, ésika, and Cyzone (Belcorp’s brands).
  • Share links to your online store to start earning.

How Much Does It Cost to Join Belcorp (Video)?

Beauty Consultants invest S/ 54.90 (54.90 Peruvian Sol = USD 14.59) to buy a Starter Kit. This Kit contains demonstrators, catalogs, and products. The gift products are actually valued at up to S/ 553.00 (USD 146.98).

In the US, the Business Kit costs USD 59.99 (a 71% discount on the list price of USD 204.00). It contains a suitcase, 5 catalogs, one mirror, an assortment of products (e.g. makeup, fragrance, facial treatment, and body care), a fragrance sample kit, and your personal website.

Section 3 – Products

Here, we evaluate Belcorp’s products and the factors that make them stand out from the competition. Ultimately, we uncover the company’s unique selling proposition.

What Does Belcorp Sell?

Belcorp offers beauty products (featuring make-up, perfumes, jewelry, and personal care products) under three key brands:

  • L’Bel
  • Ésika
  • Cyzone

The company creates more than 150 new products every year.

Some of the best sellers include:

  • Labial COLORFIX Duo Tattoo Edición Especial
  • Labial COLORFIX 24H
  • Kalos Sport Eau de Toilette
  • Vibrance Perfume for Women
  • Black Liquid Eyeliner Feather Tip Eye PRO
  • Black Liquid Eyeliner Brush Tip Eye PRO
  • COLORFIX Duo Tattoo Lipstick

Where are Belcorp’s Products Made?

Belcorp has a Tocanpia (Columbia) plant that produces 543,000 products daily. The company also manufactures its L’Bel brand of products in France.

Where to Buy Belcorp’s Products?

You can order Belcorp’s products through:

  • the company’s online store
  • a Beauty Consultant

Are Belcorp’s Products Tested and Certified?

Belcorp states that the company doesn’t use animal testing in its production processes. The company is endorsed by Leaping Bunny, a global program requiring cruelty-free production standards beyond legal requirements.

Furthermore, the company abides by industry quality and production standards, including:

  • ISO 9001 :2008
  • PEFC
  • Invima

They also work with laboratories and international perfume houses like:

  • Exsymol, Monaco
  • Symrise
  • Firmenich
  • Sedema

The DSN reveals the following aspects about this company’s production processes:

  • L’Bel skincare products come from France, which has respected scientific laboratories and dermatological centers
  • a final formula can take five years to create
  • up to 1,000 women test the products beforehand
  • they conduct roughly 200 clinical, hypoallergenic, dermatological, and ophthalmologic tests
  • up to 50 formulas can be tested before approving a new product
  • each product must have visible and verifiable results within 4 weeks of use

Section 4 – Doubts and Misconceptions about Belcorp

This section seeks to demystify common misconceptions about Belcorp. We aim to provide the most accurate information possible to help you clearly evaluate the potential opportunity offered by this company.

Lawsuits and Independent Reviews of Belcorp

Belcorp was investigated by Truth in Advertising in 2017, as part of’s larger investigation into atypical income claims by multiple MLM companies.

The investigation revealed that 97+% of the companies (including Belcorp) had several instances of making misleading income claims while promoting their business opportunity (directly or through distributors). So far, the company has been taking action to remove such misleading claims.

Despite such challenges, the company remains a dominant player regionally, being continually recognized among the Great Places to Work in Latin America.

Is Belcorp a Public or Private Company?

Belcorp is a privately-held company owned by Eduardo Belmont Anderson.

What Countries is Belcorp In?

Belcorp is in the following countries:

  1. Peru
  2. Colombia
  3. Chile
  4. Mexico
  5. Bolivia
  6. Guatemala
  7. Puerto Rico
  8. Panama
  9. El Salvador
  10. Costa Rica
  11. Ecuador
  12. Republica Dominicana
  13. United States

Section 5 – FAQs and Recap

In conclusion, we summarize some key concepts by answering frequently asked questions about Belcorp.

What products does Belcorp offer?

Belcorp provides beauty products such as makeup, perfumes, jewelry, and personal care items under three main brands: L’Bel, Ésika, and Cyzone. The company continually innovates, creating over 150 new products every year.

How do I become a Beauty Consultant for Belcorp?

To join Belcorp as a Beauty Consultant, sign up on their website by providing personal information, and then purchase a starter kit containing products from their brands. Once registered, you can start selling products through catalogs and your personal online store.

Are Belcorp’s products cruelty-free and certified?

Yes, Belcorp does not use animal testing in its production processes and is endorsed by Leaping Bunny, a global cruelty-free certification program. Moreover, the company adheres to industry quality and production standards, such as ISO 9001:2008, PEFC, and Invima.

How can I purchase Belcorp’s products?

You can order Belcorp’s products through their online store or by contacting a Beauty Consultant. Independent sales representatives showcase the products via physical catalogs or their personal online stores.


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Author: Victor Nyorani

Victor Nyorani - Network Marketing Start

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