Fashion: Latin America’s booming sector

Fashion: Latin America’s booming sector

A new generation of entrepreneurs in the fashion industry will soon see light in Latin America. “Indeed, we’ve noticed a rising awareness on the importance of fashion and its related industries” says Karla Martinez, editor in chief for Vogue Mexio and Latin America. Major brands, and apparel manufacturers are getting ready to relocate their factories from Asia to Latin America in order to better serve the American markets.

Carlos Slim, the Mexican tycoon of Lebanese origins, knows well about the lucrative opportunities residing in the apparel sector.  In 2015, he launches his own brand “Philosophy” to compete with the giants of the sector, particularly Amancio Ortega, founder of Zara. Today, Slim plans on creating a partnership with Piero Solari Donaggio, one of the major stakeholders in Falabella.

“Opening the economy to foreign players will allow the region to benefit from the education and technologies development: factors that have otherwise proven to drastically stimulate the competition.” Explains Sergio Olarte, Head researcher at BTG Pactual Columbia, an investment bank specialized in wealth and asset management.

Regina Barrios, a serial entrepreneur whose name has shined in the luxury sector, has alerted the western media through a couple of interviews. She explains that the Latin-American market shows great potential. “In fact, there are plenty of opportunities and money here, tons even” declared Barrios to the Business of Fashion website. “There is an important purchasing power in the fashion world” she added.

After almost 10 years in the international business scene, Barrios opens Lago DF, a multi-brand luxury boutique in Mexico City. Her confidence in the Latin-American market has even pushed her to launch her own trade show in the Mexican Capital.

In Brazil, some fortunes continue to grow even during the recession thanks to this industry. “If you take a look on the stock index, you’ll notice that plenty of people are making money today in the apparel and fashion sectors” stated Anderson Antunes, ex-contributor at Forbes and current writer on the Brazilian fashion and luxury website.

L’exemple le plus parlant serait le milliardaire Nevaldo Rocha, fondateur de Riachuelo, une des plus grandes firmes de commerce de détails du Brésil, avec environ 300 magasins répandus à travers le pays.

With its recent partnership with Agnes Elisabelar, GoExport now has the capacity to help you benefit from business opportunities in the fashion, apparel and lifestyle sectors in Latin America.

For more information:

https://www.businessoffashion.com/articles/global-currents/latin-americas-fashion-business-billionaires

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