ALL SET TO SAMBA: Everything is in place. The floors are polished, the windows gleaming and fresh flowers are in the vases, ready to welcome shoppers today at the long-postponed JK Iguatemi mall in São Paulo. The mall, Iguatemi Group’s 13th in Brazil and third in São Paulo, has been plagued since its original opening date — April 18 — largely by infrastructure and road requirements set forth by the city. But the Certificate of Occupancy was approved and opening is set for 3 p.m.
JK Iguatemi is to be home to the first Van Cleef & Arpels, Lanvin and Topshop units to open in Latin America, among its 189 stores. Sixty are international brands, including Burberry, Bottega Veneta, Coach, Prada, Dolce & Gabbana, DVF, Chanel, Diesel, Tory Burch, Nicole Miller, Adidas, Hugo Boss, Sephora and more. Thirty of the internationals are new to the Brazilian market.
This story first appeared in the June 22, 2012 issue of WWD. Subscribe Today.
Owned by the Jereissati family, Iguatemi Group is credited with opening the first mall in the country, the Iguatemi. With 11.3 million inhabitants (6 percent of the total population of Brazil), São Paulo is the country’s capital of luxury and wealth, home to 70 percent of the nation’s billionaires (21) and 22.5 percent of Brazilian millionaires (29,000). The city ranks sixth in the world for high-net-worth individuals.