French Luxury Jewellery brand Cartier aims to strengthen is retail footprint in Brazil by partnering with shopping centre owner Iguatemi to open a new flagship store in the country. The brand will look to build on its two existing stores in the region.
As BRIC countries have matured, Brazil’s luxury market has not developed as far as brands and marketers hoped, unlike the success of China. Various brands are using different strategies to make their presence more known and relatable for local customers.
However, Brazil’s market is not a good place to be right now. They’ve slipped into a recession, with month to retail sails slipping. The current uncertainty of the Chinese economy is also hurting Brazil, since China is Brazil’s largest trading partner.