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Brazilian Environment

In: Business and Management

Submitted By vicyukiq
Words 6157
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Brazil
Inside brazils booming fashion industry
(http://www.businessoffashion.com/2010/08/inside-brazils-booming-fashion-industry.html)
A Booming Economy
Undeniably, the primary force driving the current surge in the Brazilian fashion market is a healthy macroeconomic context. Brazil’s economy has been expanding steadily for years, a result of a stable political and social climate and long-term reforms set in place by the current and previous government administrations.
As much of the world slid into severe recession in late 2008, Brazil continued to expand. Indeed, according to Brazil’s national statistics agency, GDP grew a record 9 percent in the first quarter 0f 2010.
National Optimism
The robust economy has, in turn, fed the country’s self-confidence. Whether at São Paulo Fashion Week, in the streets, or in the nation’s shopping malls, there is a palpable optimism in the air: Brazil believes in itself.
This hasn’t always been the case. When queried on the main factor behind her country’s current optimism, Erika Palomino, arguably the best-known fashion journalist in Brazil, pointed out that a new-found “self-esteem” is as important as the positive numbers: “Because we are a former colony, for a long time we didn’t believe in ourselves and always looked abroad, thinking other countries did things better. That has changed.” Indeed, winning bids to host both the 2014 World Cup and the 2016 Olympics have had a major impact in boosting the country’s sense of confidence.
The Advantages of Insularity: A Strong Domestic Market
Brazil’s growing national pride, combined with the country’s relative geographic isolation, has had a positive effect on the country’s domestic fashion market. Sara Andrade, the influential fashion editor of Vogue Portugal, thinks Brazil’s self-reliance is one of the country’s greatest assets. “One of the things Brazil has working for it…...

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