{"id":1562,"date":"2018-11-05T14:19:06","date_gmt":"2018-11-05T17:19:06","guid":{"rendered":"https:\/\/fsantosteste.com\/the-latin-american-growth-in-luxury-goods\/"},"modified":"2024-03-16T09:55:43","modified_gmt":"2024-03-16T12:55:43","slug":"the-latin-american-growth-in-luxury-goods","status":"publish","type":"post","link":"https:\/\/www.knewin.com\/en\/blog\/the-latin-american-growth-in-luxury-goods\/","title":{"rendered":"The Latin American Growth in Luxury Goods"},"content":{"rendered":"\n<p>It is estimated that Latin America will see an increase of&nbsp;42 percent in the number of millionaires that call the area home by 2025. With the growth of millionaire residents brings with it the need for the luxury brands that they are accustomed to.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-the-market-is-expanding\"><strong>The market is expanding<\/strong><\/h2>\n\n\n\n<p>Latin America has seen a large increase in the number of international luxury brands that are setting up shop throughout the region. For example, Liverpool, Mexico\u2019s third largest department store player committed to adding 11 new branches within the area. This comes at a cost of $320 million.<\/p>\n\n\n\n<p>When speaking about luxury brands, Josh Holmes, consumer analyst at BMI Research said, \u201cLatin America will be one of the fastest growing markets globally. The region will easily outpace North America (1.8 percent) and Europe (1.9 percent) over the same period.\u201d<\/p>\n\n\n\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-local-brands-are-experiencing-success\"><strong>Local brands are experiencing success<\/strong><\/h2>\n\n\n\n<p>As the demand for luxury items in Latin America grows, there are local luxury brands that are working to stand&nbsp;above the larger international brands. According to an interview with research analyst from Euromonitor International, Evelyn Rodr\u00edquez, \u201cEven when foreign brands prevail in luxury leather goods (LLG), Mexicans are looking for unique alternatives and experiment with local brands. LLG are expected to keep growing in the next 5 years around 8 percent CAGR (common annual growth rate).\u201d<\/p>\n\n\n\n<p>One such success story is the Mexican brand&nbsp;Jaime Ibiza. While the process of entering the market back in 1982 might have been a slow process they are reaping the rewards today. The brand now has the largest growth in Mexico and is even collaborating with Disney on leather handbags.<\/p>\n\n\n\n<p>Men\u2019s tailoring brand, Arturo Calle is also experiencing success with their growth in Latin America. Cautious global brands have left a void in Latin America that these local brands are filling. Arturo Calle has plans to open two boutiques in Panama, three in Costa Rica, and enter into malls in both Guatemala and El Salvador.<\/p>\n\n\n\n<p>Local brands are seeing that Latin American countries are ready for luxury brands. The market is there and projected to continue growing,&nbsp;making expansion into these countries a wise decision.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>It is estimated that Latin America will see an increase of&nbsp;42 percent in the number of millionaires that call the area home by 2025. With the growth of millionaire residents brings with it the need for the luxury brands that they are accustomed to. The market is expanding Latin America has seen a large increase [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":32070,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1562","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-nao-categorizado"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.0 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>The Latin American Growth in Luxury Goods - Knewin<\/title>\n<meta name=\"description\" content=\"The growth of millionaires in Brazin brings the need for the luxury brands that they are accustomed to. Luxury goods grow faster every day.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.knewin.com\/en\/blog\/the-latin-american-growth-in-luxury-goods\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Latin American Growth in Luxury Goods\" \/>\n<meta property=\"og:description\" content=\"The growth of millionaires in Brazin brings the need for the luxury brands that they are accustomed to. Luxury goods grow faster every day.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.knewin.com\/en\/blog\/the-latin-american-growth-in-luxury-goods\/\" \/>\n<meta property=\"og:site_name\" content=\"Knewin\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/knewinoficial\/\" \/>\n<meta property=\"article:published_time\" content=\"2018-11-05T17:19:06+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-03-16T12:55:43+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.knewin.com\/wp-content\/uploads\/2024\/03\/Latin-America.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"512\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"fsantos\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@knewin_\" \/>\n<meta name=\"twitter:site\" content=\"@knewin_\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"fsantos\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":[\"Article\",\"BlogPosting\"],\"@id\":\"https:\\\/\\\/www.knewin.com\\\/en\\\/blog\\\/the-latin-american-growth-in-luxury-goods\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.knewin.com\\\/en\\\/blog\\\/the-latin-american-growth-in-luxury-goods\\\/\"},\"author\":{\"name\":\"fsantos\",\"@id\":\"https:\\\/\\\/www.knewin.com\\\/#\\\/schema\\\/person\\\/364094a862bc44c89d5fb06ca46af59d\"},\"headline\":\"The Latin American Growth in Luxury Goods\",\"datePublished\":\"2018-11-05T17:19:06+00:00\",\"dateModified\":\"2024-03-16T12:55:43+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.knewin.com\\\/en\\\/blog\\\/the-latin-american-growth-in-luxury-goods\\\/\"},\"wordCount\":360,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.knewin.com\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/www.knewin.com\\\/en\\\/blog\\\/the-latin-american-growth-in-luxury-goods\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.knewin.com\\\/wp-content\\\/uploads\\\/2024\\\/03\\\/Latin-America.jpg\",\"articleSection\":[\"N\u00e3o categorizado\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.knewin.com\\\/en\\\/blog\\\/the-latin-american-growth-in-luxury-goods\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.knewin.com\\\/en\\\/blog\\\/the-latin-american-growth-in-luxury-goods\\\/\",\"url\":\"https:\\\/\\\/www.knewin.com\\\/en\\\/blog\\\/the-latin-american-growth-in-luxury-goods\\\/\",\"name\":\"The Latin American Growth in Luxury Goods - Knewin\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.knewin.com\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.knewin.com\\\/en\\\/blog\\\/the-latin-american-growth-in-luxury-goods\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.knewin.com\\\/en\\\/blog\\\/the-latin-american-growth-in-luxury-goods\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.knewin.com\\\/wp-content\\\/uploads\\\/2024\\\/03\\\/Latin-America.jpg\",\"datePublished\":\"2018-11-05T17:19:06+00:00\",\"dateModified\":\"2024-03-16T12:55:43+00:00\",\"description\":\"The growth of millionaires in Brazin brings the need for the luxury brands that they are accustomed to. 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