RIO DE JANEIRO, BRAZIL - After the first year of the Covid-19 pandemic, the resilience of the Brazilian luxury goods market is being put to the test again. The next five years should define whether the maxim, disseminated in the global industry, that Brazil would be an oasis for the sector's brands, is still valid.
If the effects of the recession that began in 2015 had already undermined the expansion plans in the country of companies focused on the sale of these goods, reducing by R$1.2 billion (US$214 million) the annual revenue of the segment by . . .