Brazilian shoppers no longer have to purchase a plane ticket to buy from their favourite American luxury brands. Coach, Kate Spade and Tiffany are now opening stores in Brazil.
Last year, luxury sales in Brazil grew 20% to 2.3 billion euros ($2.9 billion), according to Bain & Co.
European luxury brands including Louis Vuitton and Cartier have had a presence in Brazil for years. American luxury brands started to realise the importance of the Brazilian consumer after seeing one million Brazilian tourists visit the U.S. each year spending thousands of dollars on American luxury brands.
The growth of Brazil’s economy and the fact that developers are opening more sophisticated shopping destinations provides American luxury brands with a great opportunity to reach Brazilian luxury shoppers at home.
To read the full Bloomberg article click here.
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