Following President-elect Mauricio Macri’s announcement that he would lift the cepo, or dollar clampdown, over 40 international clothing brands and several fast food chains have said they’re planning to plant their flag on the Argentine market. In fact, the US’s Forever 21 is reportedly already projecting to open its first store in Alto Palermo.
According to my sources, this comes as great news to anyone who wants to buy relatively inexpensive clothes (that do however run the risk of disintegrating after the fifth wash).
According to a study conducted by Colliers international, a consultant specialized in the real estate market, other brands such as H&M, TopShop and Gap, as well as more high-end retailers such as Burberry, Dolce & Gabbana, Gucci, Brooks Brothers, Ralph Lauren and Carolina Herrera are planning on having a strong presence in the country.
Lines such as Armani, Louis Vuitton, Ferragamo and Calvin Klein also allegedly plan on returning to Argentine soil after having had to abandon camp due to import restrictions.
Colliers commercial director Marcelo Zuliani explained that Buenos Aires has always been an attractive market and that the only reason companies didn’t sell their products here was because of the dollar clampdown:
“It discourages all foreign companies. Brands are going to come back when things go back to normal because they know they can make more money in Buenos Aires than in Santiago de Chile or Bogotá,” Zuliani said.
In terms of food chains planning on entering the food scene, we’ll have to wait and see how some of these new tastes fare here: Dunkin’ Donuts, Pizza Hut, Domino’s, Cinnabon, China Wok, The Cheesecake Factory and Juan Valdez reportedly plan on challenging the Argentine love for native cuisine. Good luck trying to get an Argentine to eat Pizza Hut instead of a thick, cheesy stuffed-crust fugazzeta, or Dunkin’ Donuts instead of a freshly baked medialuna.
It looks like the streets will soon be blossoming with the finest multi-national brands, so dust off your furs and practice your fancy laugh, you’ll be walking down Alvear Avenue buying Louis Vuitton handbags and eating cinnabons in no time.