With high streets left empty for months amid wave after deadly wave of coronavirus infections, Brazil’s fashion retail sector was left crippled by the pandemic. But news of mergers and acquisitions involving some of the segment’s giants sparked some degree of hope for 2021.
At the end of April, women’s fashion conglomerate Grupo Soma announced its acquisition of leading high street label Hering for BRL 5.1 billion (USD 980 million), just days after major footwear player Arezzo&Co bid BRL 3 billion for the same company.
Analysts suggest the purchase will kick off a wave of similar moves in the sector. High street giant Renner announced a share offering to raise up to BRL 6.5 billion, sparking rumors that it has its eye on purchasing popular fashion chains Marisa and C&A — but it is also coveting clothing e-commerce Dafiti.
Survival of the fittest
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