BRAZIL. Neutral by Luryx, owned by Top Brands International, is expanding its network to Brazil with the acquisition of a downtown duty-free operation owned by Mazenta Brasil. It has also signed an exclusive contract to open a new duty-free store at Dreams Park, a key tourism location in the region, which lies close to the borders of Argentina and Paraguay.
The store, set to open in July this year, will feature 2,700sq m of retail space. The ground floor will house fragrances & cosmetics, fashion & accessories and destination goods, with the lower floor carrying wines & spirits, confectionery, tobacco, toys and technology.
Foz de Iguazú attracts 20 million visitors a year, with the Iguazú Falls one of the natural wonders of the world. It features over 275 waterfalls surrounded by lush tropical rainforest.
Dream Park welcomes around one million visitors per year, with plans to increase this to five million in the coming years. Dream Park is located 20 minutes from the Iguazú Falls and 15 minutes from Foz de Iguazú International Airport. The complex blends entertainment with museums, restaurants, a five-star hotel, a water park, plus attractions such as the Jurassic Park, the Ice Bar and more.
In a statement announcing the move, Top Brands International CEO Danny Yohoros said: “Visitors from Brazil, Paraguay, Argentina, the USA, Europe and Asia flock to this region every year to experience its grandeur, enjoy its biodiversity and explore its many attractions.
“With a special focus on this ever-growing influx of travellers, the new Neutral by Luryx Duty Free store will establish itself as a premier shopping destination, offering a first-class experience with prestigious international brands and exceptional service.”
He said the company had an “aggressive and revolutionary marketing strategy” to convert many of these visitors into shoppers.
In March 2018, Brazilian Customs authorities permitted the licensing of downtown duty-free shops in 32 cities near the borders within the country. Alongside foreign visitors, Brazilian citizens are allowed to shop with a monthly allowance of US$500 per month and per person.
With this latest opening, Panama-based travel retailer Top Brands will manage over 100 stores in 17 countries in the region.
As reported last month, Top Brands International has also acquired Mega Shopping, a 1,200sq m operation in Iquique, Chile, from Vierci Group.
