Sao Paulo, Brazil, 28 June – The Brazilian brand of footwear Arezzo is to open a second franchise store in Portugal, in September, and plans to increase its number of stores to 25 by 2015, according to a report in Brazilian financial paper, Valor Económico.
According to the paper the two stores represented an investment of 1 million euros.
The franchise director of Arezzo, Mário Goldberg said that “Portugal was chosen as an entrance way to the European market due to the ease of language, culture and the relationship between the two countries.”
“Working in fashion means being in Europe and there is no better way of doing that than going into this market through a country that is close to our culture. We have already distributed our products in multi-brand stores. Open franchises was a natural development,” said the director of the Arezzo network, who sees countries such as Sweden, Finland, Switzerland, Italy, France, Germany and Spain as potential markets for expanding the brand.
in 2006, Arezzo, which has 200 stores in Brazil, posted turnover of 325 million reals, of which 5 percent were from foreign operations in Portugal, Venezuela, Saudi Arabia and Paraguay.
Arezzo expects its sales to rise by 15 percent in 2007.
The Brazilian brand of clothing, Richards, which has two stores in Portugal also plans to open a further three stores over the next three years.
Richards, which has annual turnover of 150 million reals, will also open its first store in Angola in July.
With the aim of using Portugal as a base for entering the European market the Brazilian brands Oklen, Datelli and Via Uno have also opened stores in Lisbon. (macauhub)