While luxury shopping might be slumping here (sorry, Tiffany’s), its booming in Brazil! Might be something for those of you still with money to consider for your next holiday…
SmartBrief: Brazil has experienced an economic boom that has created thousands of millionaires, more than 20,000 in 2007 alone. That rapid and substantial increase in disposable income is obvious in Sao Paulo, Brazil’s most cosmopolitan city. Shopping malls with Hermes and Giorgio Armani boutiques have sprouted up all over the city. “It’s not there yet, but Brazil is on its way to becoming a priority market for luxury brand names,” said Carlos Ferreirinha, a former president of Louis Vuitton in Brazil.
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