Luxury Market - Brasil

• The perspective of the Luxury Market in Brazil

Despite a slowing economy and high inflation, the Luxury market in Brazil has good prospects. As one of the most emerging economy in the World, and as the wealthiest country in South-America, Brazil is a very interesting market for luxury brands. It actually represents good opportunities of growth for luxury executives.

According to Euromonitor International, Brazil’s luxury market is set to grow of 30% to 2018, with an increase of 1.4 Billion US$ on the overall value sales. In 2018, Brazil will overtake both Australia and Taiwan and become the 14th luxury market in the world.

By 2023, Brazil might join the top 10 worldwide largest luxury markets.

The demographic situation strenghten these forecasts as the wealthiest part of the population is between 35 and 44 years old, which is encouraging and really positive.

• The Luxury Jewelry in Brazil

14 Years after its arrival in Brazil, Tiffany & Co has to face a tough local and international competition. Indeed, Brazil has several local brands of luxury jewelry and timepieces that the local population appreciate.

The most popular Brazilian brand of luxury pieces is H.Stern, founded in 1945 in Rio de Janeiro, where it controls the handmade production of its pieces. It was the first jeweler in South America, it has shops in all the main cities of Brazil (Rio de Janeiro, Brasilia, Curitiba, Sao Paulo…), but also in other countries such as the US, France, Mexico, China…

Another well-known brazilian brand is Hueb, a fine jeweler from Sao Paolo, that opened its first shop outside Brazil in 1970 in New-York City. It sells exceptional jewelry with spectacular gemstones, that can cost up to 50000$.

The local population is very attached to these two brand as they represent the Brazilian luxury jewelry manufactury.

Although those brands are very important in Brazil, they are not the main competitors of Tiffany&Co in this country. Indeed, when the local population wants to buy luxury pieces, they use to choose an international brand. As several multinationals understood that these products gathers the interest of Brazilian population, foreign brands decided to open stores in this country. The most searched jewellery brands in Brazil are Swarovski, Tiffany and Cartier.