Video Transcript >
Alberto Serrentino: Well, if I had to focus on three recommendations for international players approaching the Brazilian market, first one would be consider seriously the entry strategy based on a joint venture or partnership with a local player that would make it easier for an international player to understand and overcome the barriers. The second would be to not underestimate the time that it takes to establish an operation and open up a business in Brazil and start making it profitable. It takes time. The maturity curve is not as fast as many companies would expect because the barriers are as big as the opportunities, so it takes time to understand the market, to establish and to succeed, but the outcome can be very, very profitable. And the third one maybe will be to understand the dynamics of our demand and our demographic changes, understand Brazil which is a complex country with a complex market and a very diversified society and – in order to better define the positioning, the target market and how to establish a value proposition that can be compelling for a specific segment and then make the company a successful business in Brazil.