MILAN — 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.
With gross domestic product expanding by between 6 and 7 percent a year, and an increasingly affluent customer base, Brazil is a growing draw for many brands seeking to offset slowing, or downright stalled, sales in more developed markets. Brazil is seen as one of the industry’s main emerging markets, which also includes Russia, India and China, and is commonly referred to as BRIC. And, given the recent economic woes of Russia and China and political turmoil in India, Brazil stands out from the pack more than ever.
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EXCLUSIVE: Sarah Rutson has been tapped to Build New American Fashion Group. The parent of Joie, Equipment and Current/Elliott hired the merchant to rev up its brands and expand its portfolio into designer, beauty and lifestyle categories. Read more on WWD.com, link in bio. #wwdfashion
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