What? WGSN recently bought Mindset, a Brazilian agency dedicated to research and analysis of future and current consumer behavior.
Why is it important: According to Jose Papa Neto, General Manager of Top Right Group Brazil, the retail market in Brazil is projected to grow over 40% between 2012 and 2015. WGSN has invested around USD $15.7 million in its business over the past 18 months and will now also accelerate development of locally relevant products and create local content for the Latin American market.
In September 2nd, global trend forecasting service WSGN announced its acquisition of Mindset Communicaco e Marketing LTDA, an advisory agency dedicated to research and analysis of future and current consumer behavior, which currently works with many leading companies in Brazil. Mindset brings a loyal subscriber base and great relationships with major retailers, merchandisers and designers across the LATAM region.
This is Top Right Group (WGSN’s parent company) 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.
Mindset has been a reseller of WGSN’s trend service subscription for nine years. As such, WGSN already serves over 300 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.
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 region.
This acquisition strengthens WGSNs position in the Latin American market and will enable it to expand their trend, retail and intelligence services in new and developing markets, in fields such as fashion, technology, design, communication and education.