Fashion industry ventures grow 16% during pandemic in Brazil
RIO DE JANEIRO, BRAZIL – In 90% of cases, the new businesses were registered as individual micro-enterprises, according to a Brazilian Service of Support to Micro and Small Enterprises (SEBRAE) survey based on Federal Treasury data.
SEBRAE found that there was a 16% increase in ventures in the fashion sector in the first half of 2020 and 2021, compared to the same period in 2018 and 2019. There were over 440,000 businesses formed as micro-enterprises in this sector.
This was the case of attorney Tali Simis, who lost her job in an office due to the pandemic, decided to change careers and opened a store.
Most of the new small businesses are in retail clothing and accessories, which comprises almost 80% of micro-entrepreneurs who went into the fashion business during the pandemic.
The fashion segment is also the one that most sells online, according to the SEBRAE survey in partnership with the Getúlio Vargas Foundation. Some 84% of the micro-entrepreneurs in the fashion industry used e-commerce to sell products, a figure higher than the 70% average for other businesses.
More: Brazil news in English, every day from The Rio Times.
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief
Brazil runoff, Sunday, October 25: Brazil runoff: date, poll closing times and when results start. Latest: Brazil runoff polls, Flávio 51%, Lula 49%.