May 8 – The Salvatore Ferragamo Group, one of the leading global players in the luxury sector, is entering an agreement with Brasil Fashion, a franchisee of the brand in the Latin American country since 2005, to take over distribution and direct control of three sales points in Brazil from May 2, 2013. Two of these are located in San Paulo Iguatemi mall in the prestigious and Cidade Jardim, while the other is in Rio de Janeiro in the Leblon mall. The agreement fits into the buy-back strategy in stores operated by third parties. By increasing its direct presence in the Latin American market, the Ferragamo Group hopes to further strengthen its brand value in Brazil, a fast growing market, and its image as one of the key luxury players of reference for Brazilian customers.
