Dimitri Mussard, 28 had the world on his platter, by virtue of being born in one of the families that holds a controlling stake in the luxury brand, Hermes. But he went ahead to etch out his own destiny and chose Sao Paolo to be his canvas. Two years back he moved to the city and started a luxury consultancy firm Acaju do Brasil with his two friends, Anna Luisa Pera, a former executive at Grupo Iguatemi, and ad man Fábio Justus, from, MCF Consultoria e Conhecimento. Both bring with them abundant experience of the top Brazilian companies of their fields.
With Acaju do Brasil, the trio wants to assist fashion brands in settling in Brazil by offering distribution services, commercial representation and public relations. Figures show that this is a great time to get into the luxury business in Brazil as that sector is growing at an impressive rate of 22%. There could be minor slumps in between, but overall the economy is doing really well giving rise to a bourgeoisie that has the money and the desire to spend big bucks on luxury brands. Infact, according to Goldman Sachs, by 2025, Brazil will represent 6% of the global luxury market.
But it is not all hunky dory here. Mussard says that the high tax rates and corrupt bureaucracy can make things very hard for a business. He says that there are very few department stores, multi brands, and almost no concept stores. These things drive most of the Brazilians out to buy luxury goods. Hence, these areas can definitely be promising prospects in Brazil owing to the burgeoning demand.
Via: Forbes
