New York Toasts Iguatemi

Although fashion week parties always attract an unusual mix, the likes of Alexandre Herchcovitch and Celerie Kemble aren't often found mingling over capirinhas. But Carlos Jereissati, CEO of Brazillian retail group Iguatemi, somehow attracted this diverse crowd to an intimate dinner party during the already busy New York Fashion Week.

  Iguatemi may not be a household name in much of the world, but it's one of the most enduring brands in Brazil. Since launching the country's first shopping center in São Paulo in 1966, the company has crafted a national image synonymous with "good food, entertainment, good shopping and socializing with friends," according to Jereissati. Today, Iguatemi boasts a roster of 11 luxury malls throughout Brazil, featuring a mix of 330 international brands—including Chanel, Louis Vuitton, Bulgari and, later this year, Gucci—and local designers like Maria Bonita, Iodice, Osklen and Rosa Chá.

  Jereissati's quest to enhance Iguatemi's international profile has surely contributed a great deal to its success. A VIP concierge service and quarterly magazine published by the Vogue Brasil staff foster loyalty among locals, while high-profile events like SP Arte and São Paulo Fashion Week are hosted at Iguatemi's flagship center, attracting an international crowd—one which is undeniably important. Although Brazil has one of the strongest emerging economies in the world, there is still a massive disparity between classes, with the richest 1% of the population holding 13% of the national income—the same amount as the poorest 50%. Given these statistics, it's no wonder that the company is reaching out to an international audience, one that is increasingly visiting the country with spending power in tow.

  Even so, Iguatemi seems to have avoided the dismal figures plaguing the international retail sector. Its same store revenues increased by 14% from last year's second quarter, with roughly 40,000 visitors per day entering its doors despite the weak global economy. With five new shopping centers under construction and major expansions in the works at several of the existing malls, it looks like the New York jet set should leave room in their suitcases on future jaunts to Brazil.

—Erin Magner