29 May '16, 5am

Vuitton Investing, Not Surfing, in Brazil | #BoFW

RIO DE JANEIRO — An impeached president, the worst recession in 30 years, Zika fears, rampant corruption...oh, and what to do about the Summer Olympics? Brazil’s crisis is serious and widespread, and the economy reflects that. GDP shrunk by 3.8 percent in 2015 to R$5.904 trillion ($1.6 trillion at current exchange), making it the largest dip since 1990, according to Brazilian statistics agency IBGE. But optimism reigned on Saturday afternoon when, an hour outside of Rio de Janeiro at the Oscar Niemeyer-designed Niterói Contemporary Art Museum, some 500 guests gazed up at a red-painted ramp for the unveiling of Louis Vuitton artistic director Nicolas Ghesquière ’s Cruise 2017 collection. “We’re investing in Brazil because we know Brazil is a great country,” said Michael Burke , Louis Vuitton’s chief executive, in an interview with BoF prior to the event, which began just be...

Full article: http://www.businessoffashion.com/articles/fashion-show-re...

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