WGSN ACQUIRES MINDSET COMMUNICACO E MARKETING LTDA IN BRAZIL
• Acquisition strengthens WGSN’s position in the Latin American market
• WGSN is pursuing organic growth and acquisition strategy to build market share and deliver trend services in high growth markets
• Investment will accelerate locally developed content and services
LONDON and SAO PAULO, 2nd September 2013; WGSN, the leading global trend forecasting service, has acquired Mindset Communicaco e Marketing Ltda, its marketing partner in the vibrant Latin American market.
Mindset is an advisory agency dedicated to research and analysis of future and current consumer behavior. It works with many leading companies in Brazil and brings a loyal subscriber base and great relationships with major retailers, merchandisers and designers across the region.
This agreement will provide Mindset access to WGSN’s infrastructure, wider global markets and their expertise in technology, content, operations and customer excellence. It will enable WGSN to be even closer to its customers in Latin America and create local content direct for that market. It will also enable other Top Right Group businesses to benefit from Mindset’s expertise in Brazil and across the LATAM region.
Mindset has been a reseller of WGSN’s trend service subscription for nine years. As such, WGSN already serves around 370 customers in Latin America and is developing more locally-relevant products for new and existing clients who rely on its market leading forecasting, analytics and custom research services to make better informed business decisions.
Julie Harris, CEO of WGSN and Planet Retail commented: “We are delighted to announce this acquisition, which not only further strengthens WGSN’s position in the Latin American market, but is also part of a wider strategic objective to expand our trend, retail and intelligence services in new and developing markets.”
Andrea Bisker, Commercial Director WGSN Latin America and former owner of Mindset said: “This is excellent for us and our clients. We can now bring WGSN’s worldwide analysts and specialists – in such diverse fields as fashion, technology, design, communication and education – into our local projects, enabling our Latin American customers to work and research globally. This investment by WGSN further confirms the creative process that fuels the region and especially Brazil, and we are honoured and excited by the future opportunities and outlook.”
Jose Papa Neto, General Manager of Top Right Group Brazil, WGSN’s parent company, said: “Brazil and the wider Latin American market is a key area of growth for Top Right Group and WGSN’s acquisition of Mindset is an exciting development in those plans. The retail market in Brazil is projected to grow over 40% between 2012 and 2015. WGSN has invested £10m in its business over the past 18 months and will now also accelerate development of locally relevant products and create local content direct for the Latin American market.”
This is WGSN’s second acquisition this year following the purchase of certain online assets of Mudpie, a provider of fashion trend forecasting with more than 200 customers worldwide.
Top Right Group Latin America is headquartered in Sao Paulo and will shortly move to a new office in the city, near Faria Lima.
For further information please contact:
Sarah Kemp on +44 7738 740831, sarah.kemp@topright-group.com or Jane Windsor on jane.windsor@topright-group.com