Business · Companies · 5 hrs ago
Farm Rio plans to enter Asia within three years
Brazilian fashion brand Farm Rio plans to enter Asia within three years, with China and Australia as its main targets.
The company already has 14 permanent stores outside Brazil, including in London, Paris, New York and Los Angeles.
Farm aims to earn 60% of its revenue outside Brazil by 2032, according to co-founder Marcello Bastos.
The brand is now a separate company after a restructuring split it from the Azzas 2154 group, and it is looking for a buyer.
Its executives say a new partner would not stop or disrupt the expansion plans.
Farm is also building its presence in Madrid, where it has opened a temporary store and is choosing a site for a permanent one.
The company plans to expand one city at a time, and its next major regional move is planned for Asia.
Farm Rio plans to enter the Asian market within three years, with China and Australia as its main targets.
CEO Fábio Barreto and co-founder Marcello Bastos said the company aims to become an international business, with 60% of revenue coming from outside Brazil by 2032.
Barreto has visited cities in China and Japan, as well as South Korea and Singapore, with a McKinsey team hired to support the brand’s international expansion.
The company has 14 permanent international stores and is currently seeking a permanent site in Madrid after opening a temporary store there.
Farm Rio is seeking a buyer, but its executives said they do not expect a new partner to block or interfere with the expansion plans.
- Who
- Farm Rio, represented by CEO Fábio Barreto and co-founder Marcello Bastos.
- What
- The company plans to enter Asia within three years, focusing first on China and Australia.
- When
- Within three years, according to the executives.
- Where
- Asia, with China and Australia as the main targets.
- Why
- China is seen as influential in the region, while Australia is considered culturally close to the brand.
This story does not have two clearly opposing sides.
Fábio Barreto took over as CEO and was chosen to lead Farm Rio’s global expansion.
Barreto visited three cities in China, two in Japan, South Korea and Singapore.
Brazil’s competition authority approved the Azzas 2154 corporate reorganization without restrictions.
Farm Rio reopened its store at the Iguatemi shopping mall in São Paulo.
- Asia entry target
- Within three years
- Main Asian markets
- China and Australia
- International revenue goal
- 60% by 2032
- Permanent international stores
- 14
- Ownership in the new Farm structure
- Arezzo: 57.4%; Soma: 42.6%
What people are saying
They are too robust [plans].