Recent research has shown that the luxury market in Brazil grew 17% in 2007 to a value of US$5 Billion, a figure representing 1% of the global total potentially growing to 2% in 2008. The research undertaken both with brand owners and consumers indicated that the selected leading and most desirable brands amongst the rich were jewellers H.Stern and luxury store Daslu. Amongst the leading international brands were Louis Vuitton, Armani, Chanel and Gucci. The market especially in Rio and Brasilia are expected to be the major growth poles in 2008 with a potential increase of between 20 and 35%.
The research was undertaken by MCF Consultoria & Conhecimento and GfK Indicator