Business

Brazilian company Arezzo will be the exclusive distributor of the Vans brand in Brazil

The agreement cost Arezzo BRL 50 million, and it will be valid for five years

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The Brazilian company Arezzo will be the exclusive distributor of shoes, clothes, and accessories by the Vans brand in Brazil. The agreement, announced this Wednesday, cost Arezzo BRL 50 million and will be applicable for the next five years, starting in January 2020.

Arezzo also will have the right to extend the agreement for two more years. According to Gazeta do Povo newspaper, the major part of the operation (BRL 45 million) will be used on working capital for inventory management, as well as for the acquisition of fixed assets, including four stores.