Many Brazilian companies, stimulated by both internal and external factors, have sought international expansion as a way to reach new markets and reduce the risk of concentration in a single market, beyond other factors. The internationalization process of firms has been explained since the 1970s, for behavioral and economic theories. In addition, several authors have explored the way companies develop international strategies. However, the literature on internationalization of firms from emerging countries is still very limited, providing a place for new studies regarding this issue. This study aimed to analyze the business strategies adopted for international expansion. The methodology adopted was a single case study, based on multiple sources of evidence. The company selected was Natura, active in the field of perfumery and cosmetics, which has been expanding its internationalization process. The outline of the research is longitudinal, the historical development of the company and its internationalization process has been studied, exploring the strategies adopted. The first analysis consisted in preparing a case report. Next, we performed an analysis based on questions that guided the research. The results show that the internationalization of the company followed a process of trial and error, and the learning process in the early stages led to the development of an internationalization strategy that served as a guide in subsequent process steps.