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Luxury market is rebounding rapidly; sales up 50% in Brazil over mid-2019

RIO DE JANEIRO, BRAZIL - According to the Brazilian Association of Shopping Malls (ABRASCE), when comparing some days in July 2021 with the same period in 2019, sales in malls and shopping centers dropped almost 20%.

In contrast, in the luxury market, JHSF Participações (JHSF3) points out that high-value product sales increased by some 50% in mid-2021 compared to 2019.

Brazilians with high purchasing power, with their international travels curtailed, have spent their money on luxury items in Brazil. While consumers were still hesitant about safety regulations when malls reopened in 2020, in 2021 luxury item shoppers came . . .

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