Business

LABS+1: Brazilian Children's Day, the latest problems on Facebook's Libra project and an extra tip for the weekend

Take a look at this week's overview!

Another week, another trouble for Mark Zuckerbeg and another overpriced iPhone is announced. It looks like the universe has decided to follow its usual curse this week since you have heard news like that many other times. But the point here this time is why does this happen again. 

In Zuckerberg’s case, Libra has proved to be the motivation for his biggest dreams and also nightmares, we will give you all the details of it soon, but the bottom line is that changing the world and especially institutions so strongly established such as the financial structures requires a lot of courage and mostly patience. Nothing comes easy, Mark! 

And this cliche phrase never seemed so true when we think that not even having a new iPhone will be that easy for Brazilians. Before the official announcement of iPhone 11 price in the country, there were rumors about the smartphone being less expensive than previous Apple’s releases. iPhone 11 will indeed come with a discount, but it’s more symbolic than expected and in fact it won’t change that much the cost for Brazilians. 

But not only of tech news this week was made and the Brazilian retailers are anxiously expecting the Children’s Day – that happens tomorrow, October 12, and promises to bring a lot of good news. 

So if you lost any of this, it’s to time to get up to date and ready to leave the office not only with business information but also with an extra tip to share during the happy hour. 

Check out the LABS+1 selection of the week:

4- Sales in the Brazilian Children’s Day promises to overcome other commercial dates

Childrens day in Brazil

Children’s Day happens tomorrow in Brazil and when compared with other commercial dates, this year’s Children’s day is the only one so far that is expected to perform an increase in sales similar to the last year, as well as reach greater growth in relation to other shopping dates. 

According to projections made by the database Boa Vista and disclosed by the media outlet Folha de S.Paulo, sales during this year’s holiday is likely to increase by up to 2% in comparison to 2018.

3- The fashion retailer C&A’s IPO could reach BRL 2.2 billion in Brazil

C&A ipo in Brazil

After the IPO’s announcement in August, Cofra Holdings, the Dutch fashion retail group that owns the C&A brand, chose six banks to manage C&A’s public offer: Morgan Stanley, Bradesco BBI, BTG Pactual, Citi, XP Investimentos, and Santander. At that time, the company was forecasted to reach an investment of BRL 2 billion and now that the negotiation process is developed, the future keeps looking bright for C&A.

Scheduled for going public on October 28, the market is expecting that the fashion retailer’s IPO could achieve BRL 2.2 billion. According to a source close to the process in an interview for the Brazilian media outlet O Estado de S. Paulo, “the company generates a lot of capital and its performance is going pretty well. In addition, the sales in remodeled stores are growing by an average of 8%.”

2- Apple sets date and price for iPhone 11 release in Brazil

Iphone 11 has date and price in Brazil

After announcing the iPhone 11 release date for September 20th in the US during Apple‘s fall 2019 event, now Tim Cook‘s company has already a date to introduce its brand new smartphones in Brazil: October 18th.

And in comparison with the previous launches, the new models of the iPhone 11 have discounts that range from R$200 to R$400 (around $50 to $100), and according to Apple, retail partners in the country will be able to offer different payment options such as other discounts and cashback – which could decrease even more the price.

1- PayPal gives up on Facebook’s Libra Project

PayPal gave up Libra

After facing inquiries from the US and European governments, Libra has to deal with a big loss on the partner list, as PayPal pulled out of the project according to The New York Times, getting in the way of Facebook’s goal of presenting the cryptocurrency as a project controlled for big companies – and not only for Zuckerberg’s company. Now, it might have a direct impact on how trustable the project looks for the market and generate even more problems for making Libra possible. 

Besides Mark Zuckerberg’s efforts to keep Libra alive, he has also admitted that his company has a longer way than expected to get this project out of the paper and said in interviews that the cryptocurrency’s release might not happen next year as announced previously.  

LABS+1: The “Cumbia Digital”: A rhythm born to express Argentina’s soul in the middle of a crisis

“The movement was born in an Argentina in crisis, looking at inside, looking at its own foundations”, said Grant C. Dull, one of Cumbia Digital’s founders, for what other founder and also musician, Villa Diamante, adds that “in 2001, a collapse happened and we figured it out that Buenos Aires wasn’t London, Berlin, New York nor Rio de Janeiro. We were Buenos Aires.”

From a popular rhythm created in Colombia and popular among the poorest people in Buenos Aires, the musicians found material to create a whole new phasis of Cumbia in Latin America, giving to Argentinians a new identity and motivations to embrace their country’s culture in a difficult moment. In this mini-documentary, the founders explain the movement and its achievements as an artistic representation of how urban rhythms and the art are powerfull weapons to reach people’s hearts and make them believe in a better future.

This is art changing realities, this is art as a way of solving problems, this is a pure representation of Latin America’s soul.