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Italian brands move into 'exciting' Brazil
By ?2008 The New York Times (Distributed by NYT Syndicate) |
January 11, 2009, Sunday
|
Print Edition
Print Edition
AFTER years of political, social and economic instability, Brazil is emerging as one of the most promising markets for Italian luxury goods companies - and undoubtedly the most promising in South America.
While Brasilia is the actual capital and Rio de Janeiro attracts a large number of international visitors, the city of Sao Paulo serves as the country's de facto capital. There are 20 million people living in the greater Sao Paulo area, making it the third largest metropolis in the world.
"There's been a continuous and constant development for the past two years," said Vittorio Missoni, who oversees institutional affairs at the family-owned company.
Missoni said Brazil is one of the most ebullient markets for the brand, which fits in well with Brazilian customers drawn to colors and fun patterns. "They love clothes, especially more casual, easy looks," said Missoni, whose family company opened a shop-in-shop in the NK Store in Sao Paulo last autumn.
Business is still mainly concentrated in Sao Paulo, where a large number of multinational firms and diplomatic offices are located. In August, Giorgio Armani opened a boutique in the city's Cidade Jardim. The designer already is well established in the country, with two other Giorgio Armani and Emporio Armani stores in Sao Paulo and an Emporio Armani in Rio de Janeiro.
"Brazilians are big spenders - they are considered the Russians of South America," said John Hooks, Giorgio Armani's commercial and marketing director, who noted more Brazilians are spending in the brand's Paris and London stores than in the past.
Gucci opened its first directly owned flagship store in Sao Paulo in November, at the Iguatemi mall. "It's a milestone move for us," said Gucci President and CEO Mark Lee.
"We've been monitoring (the country) for the last few years. It's always a matter of location and timing, and now we found enough space to present the full collection.
"Brazil has solid GDP and there's excitement," he added.
While Brasilia is the actual capital and Rio de Janeiro attracts a large number of international visitors, the city of Sao Paulo serves as the country's de facto capital. There are 20 million people living in the greater Sao Paulo area, making it the third largest metropolis in the world.
"There's been a continuous and constant development for the past two years," said Vittorio Missoni, who oversees institutional affairs at the family-owned company.
Missoni said Brazil is one of the most ebullient markets for the brand, which fits in well with Brazilian customers drawn to colors and fun patterns. "They love clothes, especially more casual, easy looks," said Missoni, whose family company opened a shop-in-shop in the NK Store in Sao Paulo last autumn.
Business is still mainly concentrated in Sao Paulo, where a large number of multinational firms and diplomatic offices are located. In August, Giorgio Armani opened a boutique in the city's Cidade Jardim. The designer already is well established in the country, with two other Giorgio Armani and Emporio Armani stores in Sao Paulo and an Emporio Armani in Rio de Janeiro.
"Brazilians are big spenders - they are considered the Russians of South America," said John Hooks, Giorgio Armani's commercial and marketing director, who noted more Brazilians are spending in the brand's Paris and London stores than in the past.
Gucci opened its first directly owned flagship store in Sao Paulo in November, at the Iguatemi mall. "It's a milestone move for us," said Gucci President and CEO Mark Lee.
"We've been monitoring (the country) for the last few years. It's always a matter of location and timing, and now we found enough space to present the full collection.
"Brazil has solid GDP and there's excitement," he added.
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