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Article: ARGENTINA'S LUXE BOOM.
- Article from:
- WWD
- Article date:
- March 27, 2008
- Author:
CopyrightCOPYRIGHT 2008 Conde Nast Publications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Sabrina Mauas
BUENOS AIRES - With a rapidly expanding economy, increasingly wealthy Argentines have a growing taste for fashion and luxury. And major brands are beginning to take notice.
While still small in the global scheme of things, more and more major brands are opening here to tap into the demand. Although only an estimated 5 percent of Argentina's population of 40.3 million can afford luxury goods, the democratization of fashion has reached the middle class and people are willing to go into debt to afford a more luxurious lifestyle.
An example of this trend is the car market where, out of 440,000 units sold in 2006, 5,000 ...
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