According to
ECCIA (European Cultural and Creative Industries Alliance), the Brazilian
luxury market has grown at a compound annual growth rate of 45% from 2003 to
2011 and is expected to continue to expand in line with the country's economic
development.
The estimated
luxury market value for Brazil is EUR2.3bn, with this likely to grow by another
35% in the next few years, thanks to an enlarging luxury consumer base, a
stable economy and increasing demand for sophisticated products. 60
international brands already operate in Brazil.
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