Latin America’s powerhouse has made great strides forward but lost the mouth-watering economic momentum of the boom years. Now, to unlock more of Brazil’s potential, global fashion brands are trekking to the very margins of the map. Market GPS is sponsored by Marvin Traub Associates.
As global fast fashion giants arrive in Brazil, the market heats up. BoF reports.
SAO PAULO, Brazil — Mall operator Iguatemi Empresa de Shopping Centers SA is expanding at its fastest pace since going public in 2007, betting that luxury shoppers will be more resistant to a souring economy.
Richemont Full-Year Profit Beats Estimates on Asian Sales (Bloomberg) “Richemont, the second-biggest luxury goods company, reported full-year profit that beat analysts’ estimates as sales were boosted by buoyant demand for high-end goods in the Asia-Pacific region. Net income climbed 43 percent to 1.54 billion euros ($1.96 billion) in the 12 months through March 31, the Geneva-based company said today in a statement.”