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Duty Free Sales are Soaring at Montevideo’s Carrasco International

On September 23, 2010, In lifestyle, tourism, uruguay, by InvestBA
Duty Free Uruguay

Retail Terapia: Duty Free Uruguay is one of Carrasco International's best features. (Source: Moodie Report)

The list of amenities that make Montevideo’s Carrasco International our favorite airport in the Americas is long: the soaring glass architecture, the speed and efficiency of Customs, the waiting lines of Mercedes-Benz taxis, the custom-crafted leather seats in the boarding area. But one MVD amenity really stands out for business travelers needing last-minute gifts for the kids and fashionistas in desperate need of Retail Terapia.

Duty Free Uruguay (DFU) is the retail core of the main terminal, and all departing and arriving passengers must pass through the well-stocked aisles of premium wines, perfumes, watches, clothes and electronics ranging from iPods to Wii’s to 32″ LCDs.

DFU General Manager Diego Arrosa tells The Moodie Report sales rose a whopping 48% YOY thanks to an improved layout, better staging of merchandise and improved coordination with the carriers. “Duty Free Uruguay represents a total of 493 brands at the airport and 19,700 SKUs,” writes Peter Dowling, “and has brought in brands such as Hugo Boss and (since 16 June) Victoria’s Secret, Hermes and The Body Shop that are not present in the domestic market.”

DFU’s website also gets major style points with 80% of the retail store’s merchandise showcased online, integrated chat support and an innovative service called Traeme that lets you order electronic goods that aren’t in stock. Arrosa partially credits the rise in DFU sales to the recent influx of Brazilian tourists who apparently buy everything in Uruguay as well.

For more information about living and investing in Montevideo, visit our archives and download the October issue of InvestBA Privada.

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European Luxury Imports Are Booming in Buenos Aires

On May 10, 2010, In foreign investment, lifestyle, by InvestBA
Mercedes-Benz Argentina

If March sales figures are any indication, 2010 will be a very good year for MB Argentina.

If March sales figures were any indication, 2010 will be a very good year for European luxury automakers exporting to Argentina.

According to iProfesional; Audi, BMW, Mercedes-Benz and Porsche all posted double or triple-digit gains in units sold compared to March 2009. Several factors are contributing to the current boom: the falling Euro, pent-up demand after automakers slashed production and exports in ’09 and the introduction of several new luxury models in Argentina like the Audi A5 Sportback and the BMW 5-Series Gran Turismo.

BMW posted the largest gain with a 142% increase in units sold; 44% of those were 300 series models. Porsche was second with a 100% increase in units sold, while Audi posted a 52% increase. Of the four main European luxury brands, Mercedes-Benz sold the most units (588) in March.

And local analysts say the boom-de-lujo is not limited to autos; high-end consumer demand for fine watches, jewelry and whiskeys is also strong thanks in large part to the strength of the Brazilian economy which is being described as an umbrella for Argentine companies posting record exports of cars, appliances and textiles to consumption-minded Brazil.

Inflation has also forced the hand of Argentine retailers who are offering attractive, peso-denominated payment plans on goods once reserved for the upper class like large-screen LCD televisions. iProfesional also credits the European automakers for offering attractive financing plans like BMW’s four-year, 0% interest plan and bringing entry-level model prices down to around US$30,000.  (Full article)

For more information about luxury brands and living in Buenos Aires, download the new issue of InvestBA Privada.

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Dakar Rally Inspires Major Coke Deal

On April 20, 2010, In buenos aires events, entrepreneurs, by InvestBA
Red Bull truck used in an elaborate drug deal between Spain and Argentina.

And you thought Red Bull gave you wings. Spanish drug dealers smuggled 800 kilos in this vehicle.

While some stories hit on one or two of InvestBA’s main content categories, sometimes we unearth a gem that covers all the bases: Trade, Foreign Investment, Buenos Aires Events, Entrepreneurs, oh and Narcotrafficking (Still not an official Category).

The Argentina/Chile Dakar Rally kicked off in BA back in January, and the event was a major success for the second consecutive year. What has come to light recently is a massive drug deal that some Spanish traffickers had been plotting for over a year, according to INTERPOL.

The cartel used the Rally as a front for shipping a Mercedes-Benz truck emblazoned with fake Dakar and Red Bull logos to BA, driving it to a private residence in a high-end neighborhood, hiding 814 kilos of cocaine in a sub-floor of the vehicle and shipping the truck back to Spain. While traveling in Argentina, the drug runners donned Dakar t-shirts and even posed for pictures with locals on the highway.

When the truck arrived in Spain, it was driven through a high-tech scanner in the Port of Bilbao and the drugs were discovered. Local authorities say the dealers (7 in custody, one in exile in Chile) invested over US$500,000 in the elaborate scheme, but they stood to reap US$32 million selling the drugs in Europe or possibly 2-3x that amount if the product was moved successfully to Asia.

According to Havocscope, the black market online database, the kilos could have fetched upwards of $88,000 in Japan or $146,000 in Australia. Here in Argentina, the bust is being referred to as Operation White Dakar. While Dakar returns to BA in 2011, still no confirmation if the Spaniards will be back next year for another try. (YouTube video)

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Starbucks Expanding in Buenos Aires

On September 2, 2009, In foreign investment, franchises, us companies, by InvestBA
Starbucks at the Alto Palermo Galleria

Starbucks at the Alto Palermo Galleria

From Mercedes-Benz to American Express to McDonald’s, Argentines have long had an appetite for killer brands, so it was only logical that Starbucks finally made the foray into Buenos Aires. The Seattle-based coffee giant opened its first BA coffeehouse in the trendyAlto Palermo shopping center in May 2008, and the local chain now consists of four locations in Downtown, Palermo and Belgrano. In addition to free WiFi and relaxing environments, company officials even added dulce de leche and yerba mate items to the local menu in a show of respect for porteño palettes. In keeping with their track record of corporate responsibility, Starbucks announced an alliance with FNDF, a Palermo-based organization that provides support and resources for local children with cancer.

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