Brazilians, who once flew to Miami to buy Louis Vuitton purses and Chanel dresses, are spending their weakened currency at home in a gain for luxury mall operator Iguatemi Empresa de Shopping Centers SA.

According to the International Monetary Fund, Brazil is set to clock in as the world’s sixth largest economy in 2013. BoF meets shopping mall magnate Carlos Jereissati, a member of the recently launched BoF 500, who is helping international luxury brands tap the opportunity.