This article explores the impact conservative criticism has had on companies’ behaviour in Brazil. We investigate whether Natura and Boticário − the two largest Brazilian cosmetics companies − have maintained or reversed LGBTQ-oriented marketing and advertising when confronted with criticism from conservative groups. We draw on interviews with stakeholders, company investors and LGBTQ activists, in addition to complaints filed with the Conselho Nacional de Autorregulamentação Publicitária (National Council for Advertising Self-Regulation, CONAR), and companies’ documents on finance and social responsibility. Overall, even when faced with a negative backlash from conservative opinion, companies have persisted in their commitment to diversity issues and LGBTQ inclusion in marketing. However, firms have also employed evasive strategies, such as targeted communication and less controversial forms of retail design, signalling compromises with conservative stakeholders and customers.