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ITALIAN FASHION SETS FOOT IN SAO PAULO TO MEET BRAZILIAN BUSINESES
Italian fashion travels to Brazil. Some of Italy's major companies are preparing visit Sao Paulo from 11 to 15 May, to try and gain a deeper understanding of the local market and to meet entrepreneurs with whom they hope to develop potential new businesses. This initiative by Sistema Moda Italia is funded by the Ministry of Economic Development and brought about in cooperation with ICE, the Italian government agency which promotes the internationalisation of Italian companies.
For all the Italian companies, these days spent in San Paolo will serve to bring about an awareness of their products and their excellent characteristics. These range from jeans to elegant garments and also include children's clothing. Many of those taking part are already highly internationalised groups that nevertheless continue to look for new opportunities.
The Italian companies will use their first days in Brazil to gain a deeper understanding of the local market, the legal issues and the peculiarities of the distribution system, with a number of experts in this sector. This will be followed by a networking event with Brazilian entrepreneurs, journalists and opinion leaders operating in the fashion and economics sector. The last two days will instead be dedicated to a number of business to business meetings organised by ICE at the premises of local businesses that are interested in expanding their existing contacts with Italian companies.
Historically relations between Italy and Brazil have been sound and economically very interesting. In 2014, the total exchange was €7.8 billion euro, with €4.7 billion worth of goods and services exported from Italy, and €3.1 billion of imported to the same. In the main Brazil exports minerals, raw materials and agricultural products, whilst Italy's exports consist of machinery, automotive parts and chemicals. As for Italian investments in Brazil, the latest available figures show that Italy is in eighth position, with over $21 billion, and that there are close to a thousand Italian companies with production facilities operating in the country. A look at the individual sectors reveals that over 30% of investments are in the services and telecommunications sectors, whilst another 30% are in the automotive industry. Brazilian investments in Italy, however, still appear to be very limited.
In the clothing sector Brazil is becoming an increasingly attractive market. The total number of garments purchased by Brazilians in 2013 was 6.7 billion, for a value of €52 billion. Since 2009 there has been a growth of 19% and sales rose by 43.7%. But the Brazilian fashion sector must also be viewed from an industrial perspective. In actual fact the sector has more than 33 thousand companies, employing 1.7 million workers, and it has an annual turnover estimated at $56 billion. This ranks the country fifth in the world for production achieved.