Brazil, Uruguay and Chile top China and India for new expansion opportunities.
The region is ready for that next wave of modern retail growth, “It makes sense to invest in brands in those markets because you’re going to have some large percentage of consumers who are young today and who are going to grow with the brand into the long-term.” said Ben-Shabat.
Companies ranging from Wal-Mart Stores Inc., the world’s largest retailer, to LVMH Moet Hennessy Louis Vuitton SA, the world’s largest maker of luxury goods, are flocking to the continent even amid concerns about a credit bubble.
Wal-Mart and France’s Carrefour SA, the world’s second- largest retailer, are “masters of globalization,” having made developing-market expansion a priority, according to the report. Bentonville, Arkansas-based Wal-Mart entered Brazil in 1995 and Chile in 2009 and now operates 484 and 290 stores, respectively, in these countries, the company said in June.
Carrefour has more than 650 retail locations in Brazil, according to its 2010 annual report. Chief Financial Officer Pierre Bouchut with the retailer, based near Paris, said they will continue to pursue growth opportunities in Brazil even after a proposal to merge with Cia. Brasileira de Distribuicao Grupo Pao de Acucar failed in July 2011.
By Anna-Louise Jackson and Anthony Feld - Bloomberg
The region is ready for that next wave of modern retail growth, “It makes sense to invest in brands in those markets because you’re going to have some large percentage of consumers who are young today and who are going to grow with the brand into the long-term.” said Ben-Shabat.
Companies ranging from Wal-Mart Stores Inc., the world’s largest retailer, to LVMH Moet Hennessy Louis Vuitton SA, the world’s largest maker of luxury goods, are flocking to the continent even amid concerns about a credit bubble.
Wal-Mart and France’s Carrefour SA, the world’s second- largest retailer, are “masters of globalization,” having made developing-market expansion a priority, according to the report. Bentonville, Arkansas-based Wal-Mart entered Brazil in 1995 and Chile in 2009 and now operates 484 and 290 stores, respectively, in these countries, the company said in June.
By Anna-Louise Jackson and Anthony Feld - Bloomberg
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