Looking ahead: Brazil set to rival China in designer shopping by 2013
(Relaxnews) – Although studies in 2011 have tended to focus on the rise of the luxury market in China, where labels such as Chanel, Louis Vuitton
and Gucci thrive, a new report predicts 2013 will be a “record year” for luxury sales in Brazil following the launch of various designer stores in 2012.
Women’s Wear Daily reports December 28 that fashion houses including Fendi, Bottega Veneta and Yves Saint Laurent will begin working on expansion in Brazil in 2012.
“Next year they will plant the seeds to make 2013 what may be a record year in luxury goods sales in Brazil,” explained Carlos Ferreirinha, president of SÃ£o Paulo retail consulting company MCF Consultoria & Conhecimento.
Louis Vuitton will open three new stores in the country next year as well as turning its store at the Cidade Jardim shopping outlet in SÃ£o Paulo into a global flagship with more jewelry and accessories.
Meanwhile, Tiffany & Co., which opened its first South American unit in 2001, plans to add two more to the three it already has in Brazil.
And it isn’t only high-end brands that are attracted to Brazil: French high street cosmetics retailer Sephora will make its debut in SÃ£o Paulo in April 2012, comprising one of at least five Sephora stores set to open in the country next year.
The rise of Brazil’s luxury market is in keeping with the general mood in Latin America. In a previous article luxury consultant Danielle Zito told WWD that Salvatore Ferragamo, Hugo Boss, Ermenegildo Zegna and Giorgio Armani are all planning major launches in the region.
Established fashion houses such as Hugo Boss and Salvatore Ferragamo currently lead luxury sales in Argentina, Chile and Colombia, while Hugo Boss is the market leader for Peru and Louis Vuitton is champion in Chile.