PROMOTION

Brazil’s economy is surging upward,fueled by the vitality of its domestic market,newly discovered oil resources and majorinfrastructure development as the countryprepares to host soccer’s 2014 World Cupand the 2016 Olympic Games.

With economic growth predicted to beabove 5% this year, business opportunitieswill benefit from the creativity and flair fordesign and innovation that are ingrained inthe Brazilian national character andenhanced by the country’s newfoundfinancial fitness, telecoms talent and entre-preneurial energy.

Brazil has a long-established status as acultural icon. The exuberance of its multi-ethnic citizens; the magic of its music,from samba to bossa nova; and the organ-ized chaos and color of its Carnival — allof these express Brazilian brilliance.

These days South America’s boldest andmost ebullient nation is making its mark onthe global economy.

Fashion weeks in São Paulo and Rio deJaneiro now rank among the world’s pre-mier fashion events alongside those in NewYork, Milan, London and Paris.

Foreign prejudices against Brazil have dis-appeared in the past three years, saysMario Spaniol, the founder of CarmenSteffens, which sells its handcrafted shoes,handbags and accessories in 23 foreigncountries. “These days we are proud to saythat we are a Brazilian brand, and we have180 stores worldwide.”

The increasing global reach of the Carmen

Steffens brand and the optimism Spaniolexpresses typify the current mood of Brazil’sbusiness community. Signs of growth in theU.S. and Chinese economies are boostingconfidence in Brazil because they are theSouth American country’s second-largestexport markets.

With the nation preparing to host theWorld Cup soccer competition in 2014 andthe Olympics in 2016, the government’sGrowth Acceleration Program has pumped$250 billion into infrastructure projects.

Foreign direct investment is set to jumpa whopping 48% this year to $38 billion,according to the median forecast of about100 economists in a central bank survey car-ried out in February.

The recent discovery of huge offshore oildeposits near Rio de Janeiro will further pro-mote future growth, transforming Brazil intoone of the world’s biggest oil producers.

As domestic demand for steel rises,Usiminas, Brazil’s largest producer of flatsteel, is boosting investment 33% this yearto ramp up output, and may revive plansto build a mill in the Minas Gerais state.

With all these developments in thepipeline, utilization of industrial capacity hasbeen increasing every month. Further, merg-ers and acquisitions are forecast to rise asmuch as 40% this year, as the buoyant con-sumer market and the government’s steps tofoster homegrown conglomerates increasethe attractiveness of corporate combinations.

Both the government and independent

Continued on next page >>

creatively coming out aheadBR

AZIL Reprinted from the May 10, 2010

issue of Forbes magazine

2 BRAZIL= PROMOTION

analysts forecast that even before the oilstarts to flow, Brazil’s $1.3 trillion economy— the most dynamic in Latin America andbigger than those of India and Russia—willexpand by 5.5% this year. GuidoMantega,the Brazilian finance minister, says lastyear saw the creation of nearly a millionjobs, and a further 1.6 million are expectedthis year. He adds that, proportionately,Brazil is creating more employment thanChina.

Furthermore, he says, Brazil has “growthwith quality,” because the economy isexpanding in an environment of controlledinflation, stable macroeconomic indica-tors, job creation and increasingly equitableincome distribution.

One of the South American nation’sattractions is certainly its increasing numberof relatively affluent consumers. In the pastseven years, more than 32 million of thecountry’s population of 198 million haveattained middle-class status, while another20 million have escaped a state of poverty.

Aldemir Bendine, the CEO of Banco doBrasil, the country’s oldest bank and thelargest in South America by assets, says thekey factors that have enabled Brazil to with-stand the global financial crisis and emergefrom it stronger are the strength of itsdomestic consumption; the central bank’seffective monetary policies, which havegiven it large international reserves; and therapid response of the government, whose

prompt and effective action maintained theliquidity of the monetary system.

Banco do Brasil actually benefited fromthe global crisis, says Bendine: “Our agencyin New York had capital of around $400million, and this jumped to $4 billion dur-ing the crisis, evidence of the level of trustthat investors have in our institution.”

Banco do Brasil is currently involved in240 corporate finance projects, and this, saysBendine, reflects the pace of change inBrazil’s infrastructure: “We believe it willincrease much more. In five years we willbecome the world’s fifth-largest economy ifthat investment in infrastructure continues.”

At the time of press, the currency conversion ratewas R$1 (Brazilian reals) = US$0.566 (U.S. dollars).All monetary figures stated are U.S. dollars unless

otherwise indicated.

Director: Lucas Montes de OcaManaging Editor: Beverley Blythe

Editor: Michael KnipeArt Director: Lisa Pampillonia

Project Managers: Florence Lilti, Matthew Harris,Lauren Denny and Fadrique Alvarez de Toledo

Commercial Director: Carolina MateoCover Photos: São Paulo, Paulo Fridman/Corbis;

Bridge Detail, Pulsar Imagens/Delfim Matins; Museumof Contemporary Art, Rio de Janiero, Alamy; FashionWeek, São Paulo Sebastiao Moreiras/epa/CorbisThis special advertising feature was produced by

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Denny

Left: Celebrating the victory of Rio de Janiero’sbid for the 2016 Olympics, from left to right:Eduardo Paes, Mayor, City of Rio de Janeiro;Sérgio Cabral, Governor, Rio de Janeiro State;Carlos Arthur Nuzman, President, Olympic BidCommittee; Lula da Silva, President, Brazil andOrlando Silva, Minister of Sport.

Top left: Sand sculpture dedicated to the Rio2016 Olympic Games; Above: Christ theRedeemer looks over Rio de Janeiro.

Ace

StockLimited/Alamy

CarlosMagno

Rodriguesde

Figueiredo

3BRAZIL= PROMOTION

Rio:Soaring toNew Heights

The announcement this year of the dis-covery of huge oil deposits off thecoast of Rio de Janeiro has further

boosted the soaring economic prospects ofthe state and the city.

With preparations already under way forthe staging of soccer’s World Cup in 2014and the 2016 Summer Olympics, the prom-ise of 65 million extra barrels of recoverableoil is adding luster to both the city’s and thestate’s attractions.

As well as being Brazil’s preeminenttourist destination, Rio is an importantindustrial, manufacturing, financial andcommercial center. It is second only to SãoPaulo in economic terms and provides theheadquarters for Petrobras, the state oilcompany, and Vale, the world’s largest pro-ducer of iron ore.

Sérgio Cabral, the state governor, saysnew investment is pouring into the state’seconomy.

“The China Development Bank is open-ing an office and is already investing inPetrobras; Electrobras, the predominantlystate-owned power utility; and Oi, thetelecoms operator,” he says.

Eduardo Paes, Rio de Janeiro’s mayor,points out that by staging the Olympics in1992, Barcelona transformed itself econom-ically and socially. He regards the Cataloniancapital’s experience as a template for Rio.

“We have a modern, creative industrycluster and one of the most qualified work-forces in the country,” he says. “Ahead ofthe Olympics we are working to make Riomore business friendly and also providingincentives and support for all those whointend to do business in Rio.”

A strategic plan to attract and facilitate fur-ther investment has been drawn up by RioNegócio, a private agency controlled by theCommercial Association of Rio de Janeiro,in partnership with the city administration.

It is devoted to five areas — energy, cre-ative industries, tourism, infrastructure andinnovation industries, says Felipe Goes, thesecretary of development in the city of Rio.

In the energy sector, in which Rio is anestablished R&D center, the city is biddingto host the World Energy Forum in 2015.In the creative industries sector of media,entertainment and sport, Global Village

Telecom (GVT), a fixed-telecommunica-tions carrier, will invest $170 million overthe next two years.

To meet additional demand in the tourismsector, 16 hotels are in the process ofbeing licensed, and the number of hotelrooms will double by the time the Olympicsbegin in 2016. Among infrastructure proj-ects, revitalization of Rio’s port facilities andexpansion of the subway system are underway. The mayor is heading a campaign toencourage companies to come to Rio, andis devising tax incentives to attract innova-tion industries such as biotechnology,electronics and computer software.

Known as “Cariocas,” Rio’s citizens arefamous for their intense loyalty and iden-tification with their home community. Thelifestyle they enjoy has led Rio to be con-sidered the world’s happiest city. It attractsaround 3 million tourists a year, account-ing for 40% of Brazil’s tourism revenue.

Cabral says hosting the world’s two topsporting events is providing the best pos-sible opportunity to tackle Rio’s problems,which include crime and a dire shortage ofbasic amenities in certain areas, such aswater supply, sanitation and proper roadsand lighting.

The first benefits are already evident, hesays, in five of the favelas — the hillsideshantytowns that are home to an estimated25% of Rio’s inhabitants. Peacekeepingunits are maintaining a permanent presencein these communities, and a force of 3,300officers will be operating in 100 more fave-las by the end of this year. Officials say theseefforts have reduced crime by as much as85% in some areas.

“The RioOlympics will leave an environ-mental legacy,” adds Cabral. “We haveengineers studying sanitation and the reha-bilitation of lakes and forests. We want thefirst-ever Olympics in South America to bea green Olympics.” v

“The Rio Olympics will leave anenvironmental legacy. We haveengineers studying sanitationand the rehabilitation of lakesand forests. We want the first-ever Olympics in South Americato be a green Olympics.”

Sérgio Cabral,Governor,

State of Rio de Janeiro

4 BRAZIL= PROMOTION

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A Flair forOriginality

Equipped as they are with rich diver-sity, natural flamboyance and creativefree spirits, Brazilians have a flair for

pushing boundaries.Whether they are designing dresses, mak-

ing music, manufacturing cosmetics orcreating interior décor, Brazil’s homegrownenterprises frequently manage to bring totheir business an extra element of original-ity or individuality that ensures their success.

Cosmetics company Niely has devel-oped a range of shampoos, conditioners andhair color that is challenging the productsof multinational giants Unilever, Procter &Gamble and L’Oréal. Home productsretailer Tok&Stok collaborates with Brazil’sinternationally renowned designers to pro-duce original home accessories and furnitureat affordable prices. Carmen Steffens man-ufactures a widely diversified range ofhandcrafted women’s shoes, handbags andaccessories that offers Italian quality at athird of the price.

Daniel de Jesus, the founder and presidentof Niely Cosmetics, describes as possibly“foolhardy” his decision in 2000 to launchhis own hair-coloring line to rival those ofL’Oréal and Wella Professionals, multi-nationals with more than 50 years of expe-rience in the Brazilian market.

“The two dominated the market andwere very competent, but in the past ten yearswe have become the sales leader,” he says.“Our success now is challenging the bigmultinationals in both the color and sham-poo sectors.”

Niely is continuing to grow, he explains,because the Brazilian market today isbecoming more demanding.

“Customers in the less-advantaged eco-nomic groups have grown more prosperousand no longer want to buy the products they

bought before. They want better-qualityproducts, and we manufacture qualityproducts,” he says. “Niely today is the bridethat everyone wants to marry. It has twolines, Niely Gold shampoo and Cor&Tonhair coloring, that are dominating the mar-ket, while most companies strive to have justone strong brand.”

De Jesus attributes his company’s successto its investment in its high-standard researchfacilities and manufacturing plant. Its com-petitive advantage, he says, lies with thequality of its products, its speedy decision-making and its investment in media publicity.

Niely achieved sales of $226 millionlast year and expects a 25% increase thisyear. The company has invested $28 millionin a new factory that will be fully opera-tional in four or five years’ time.

“I spent 15 years investing in infrastruc-ture,” de Jesus says. “Decisions here can betaken fast. The Brazilian market is hot now,and I can multiply by five the sales of the

5BRAZIL= PROMOTION

A fast recovery from

www.tba.com.brit | agribusiness | energy and seaport Infrastructure

Gold line today as the market expands, andthe coloring line by twice that.”

Fast Fashion in FurnitureTok&Stok is Brazil’s largest network of

stores dedicated to one-stop shopping fordécor. Customers can visit a store, select thecomplete furnishings and decoration for aroom or office, and have it delivered andassembled in a day.

This “fast fashion in furniture” conceptrequires a capacity to offer clients constantinnovation in color and raw materials, aswell as trade know-how and an extremelyeffective system of logistics, say Régis andGhislaine Dubrule, the husband-and-wifeteam that founded Tok&Stok. They devel-oped their system in 1978, and now, 32years later, they have a presence in everymajor Brazilian city, with a total of 27 stores.

“The material of our products can bewood, glass, chrome tube, aluminum orplastic. The material may vary, but we willalways have a great design,” the Dubrulesagree.

The sale of decorative items has grownfaster than that of furniture and today rep-resents 40% of Tok&Stok sales.

“Brazilians are consumers,” says RégisDubrule. “If you give them a way, they willconsume.”

“We are not a showroom, we are a super-store,” says Ghislaine Dubrule. “Superstoresare a new element in the retail sector in

Brazil and an important factor in thestructure of the store. We launch ten prod-ucts a day, and that attracts many peopleinto our stores.”

Important factors in the success ofTok&Stok, say the Dubrules, are itsextremely organized retail management.

“We have a good management system.We have been pioneers in logistics, incomputing and in developing our own sys-tem of storage.”

Having achieved an annual growth rateof 25% between 2005 and 2008, the cou-ple was preparing for an IPO, but has putthat prospect on hold until the time is right.

A Franchise Ready for ExpansionCarmen Steffens, Brazil’s fastest-growing

franchise within the women’s shoes, hand-bags and accessories sector, is anothercompany contemplating an IPO or a part-nership in order to expand.

With 170 stores worldwide, the companyhas entered into a partnership with singerMariah Carey to promote the company’sexpansion in the U.S.

“Our brand is fashion,” says MarioSpaniol, the company’s founder and pres-ident. “We serve a woman who wants alittle more attitude, a little more daring andextravagance.”

When he decided to create CarmenSteffens, Spaniol studied manufacturing inItaly, brought his machinery fromGermanyand invested $4million in the first four years.

“After my wife took charge of the design,the brand suddenly became a success,” heacknowledges. In a year the company hadten stores, and he decided to create a fran-chise department with professionalmanagement and a training profile.

“We require effective operators for thisbusiness to be successful,” he says.“Franchisees will obtain expected results,or I guarantee they can take back the moneythey invested.

“Unlike other brands, we have greatdiversification and small volumes,” saysSpaniol. “Other brands need 5,000 pairs tomake a line. I make a line with six pairs.What is crucial for women? Beauty, com-fort and exclusivity. This is the focus of ourbusiness.”

The partnership with Mariah Carey isaimed at promoting the Carmen Steffensbrand, as well as the singer’s image and hercharitable foundations.

“Mariah knew of our own social proj-ects,” says Spaniol. “We have volunteersworking in partnership with the municipal-ity, and each year we help 700 workingchildren return to school.” v

Daniel de Jesus,Founder and President,Niely Cosmetics

Above: Models take to the catwalk during the2010 Fashion Week in São Paulo; Left: Featuringquality and design, Tok&Stok stores cater toBrazilians’ increasingly sophisticated taste level.

SebastiãoMoreira/EPA

/Corbis

BrunoDom

ingos/Reuters/Corbis

6 BRAZIL= PROMOTION

Building aBrighterFuture

s Brazil prepares to expand its oil pro-duction industry and to host theworld’s two top sporting events,

massive infrastructure construction projectsare under way. Road, rail and subwayroutes, sporting venues, hotels, shoppingmalls, apartment complexes and houses areeither being built or being readied fordevelopment.

The country is already in the third yearof the federal government’s $250 billionfour-year growth-acceleration plan, and theadministration plans to launch anothersimilar plan before national elections inOctober. President Luiz Inácio Lula da Silvainstigated both programs to boost thecountry’s economy by encouraging publicand private sector investment in infra-structure projects.

As soon as Rio de Janeiro was chosen tostage the 2016 Olympic Games, OAS,one of Brazil’s leading civil engineering andconstruction companies, had a plan ofaction ready.

“I dedicated myself to this eventuality ayear ago,” says Adelmário Pinheiro, thecompany’s president. At his direction,OAS carried out a case study on howNorway and Canada handled the develop-ment of their hydrocarbon industries, andanother on how Barcelona prepared for the1992 Olympics.

“The support base for the oil discoveries

might be built partly in Rio, partly in SãoPaulo and also in Espírito Santo,” saysPinheiro, or Dr. Léo, as he is more gener-ally known. “The same thing will happenwith the World Cup and the OlympicGames. Construction projects will developmany business sectors, and we have drawnup strategic plans for OAS to take fulladvantage of these opportunities.”

Founded in 1976, OAS has immenseexperience in such megaprojects. Througha strategy devoted mostly to huge businessand infrastructure projects, it has completed60 petrochemical plants and 16 shoppingmalls. The company is currently participat-ing in a $4 billion hydroelectric project inPeru and the construction of Rio’s subway,which will be able to carry a million pas-sengers daily.

OAS is committed to its social responsi-bilities. Its school of productivity provideslow-skill workers with basic education, andthe company runs classes at each construc-tion site so workers can obtain the educationthey couldn’t get when they were younger.

“We also have a business school forhigher education and a program called ‘TheWork of the Future,’” says Pinheiro. “Thisis my new passion. It is a huge training pro-gram for management that is very importantfor our future.”

Poised for New GrowthAnother prominent construction and

engineering company, the Niplan Group,describes itself as an entryway for large for-eign companies that want to work inBrazil. Niplan provides engineering services,construction and industrial maintenanceservices in the oil and gas, chemical, steel,petrochemical, food and pharmaceutical

A

The Octavio Frias de Oliveira Bridgespans the Pinheiros River in São Paulo.

Danny

Lehman/C

orbis

7BRAZIL= PROMOTION

sectors. Since its founding 20 years ago, ithas achieved sales figures of $227 millionper year and has attracted Petrobras,Volkswagen, Unilever and Bayer as clients.

“Within our planned growth, we want toachieve $567 million in annual billing dur-ing the next two or three years,” sayspresident and founder Paul Nishimura. “Weare growing at a rate of between 20% and30% a year with our capital structure. Ourinternational plan is to work first in LatinAmerica, especially in theMercosul countries(Argentina, Brazil, Paraguay and Uruguay).”

Nishimura believes Brazil’s economy willgrow solidly over the next ten years. Localand foreign groups interested in investing inNiplan have approached the company, hesays, but he is in no hurry to follow up ontheir interest.

“If one day we can make an IPO, there isno doubt we will do so,” he says.

Nishimura intends to growNiplan througha partnership or joint venture with a well-established foreign technology company.

A Focus on Customer ServiceOne Brazilian company that is seeking a

partnership and additional capital to financeits expansion plans is Cotia Foods.

Cotia Foods distributes national andimported chemical products. These includea wide array of acids, glucose, nitrates andsulphates, which it imports in bulk, pack-ages, and distributes to different industries,from soda production to oil and gas to fer-tilizer companies.

Alexandre Bien, founder and generalmanager, created the company with hisbrother in 1999. He says Cotia has achievedan annual billing of $120 million for the pastfew years but expects growth of at least 20%this year.

“We work with commodities that anyonecan buy and sell, so the difference is the cus-tomer service we provide. So it is importantfor us to understand our customers’ needs,”says Bien.

“We offer technical assistance. We buy inlarge quantities, store the product anddeliver it in any quantity directly to theclient’s factory with the necessary technicalassistance to improve its use. We create anentire solution for the customer.” v

The country is already in the thirdyear of the federal government’s$250 billion four-year growth-acceleration plan, and theadministration plans to launchanother similar plan beforenational elections in October.

8 BRAZIL= PROMOTION

Brazil’s economic growth over the pastseven years has transformed nearlyhalf the population— around 90mil-

lion people— into middle-class consumers,and business sectors ranging from supermar-kets and sporting goods suppliers toinsurance and fruit juice companies arereaping the benefits.

Life insurance provider Capemisa hasexperienced exponential growth by sellinginsurance to families in the lowest economicclasses, people who formerly could notafford insurance. The company’s client basehas been growing by 60% a year and isexpected to exceed a million this year.

José Augusto da Costa Tatagiba,Capemisa’s president, says the company hasachieved this increase by introducing a pol-icy that gives full coverage for a cost of only$3 per year. Having invested in efficient

technology, Capemisa can reach a massmarket while keeping costs to a minimum.

“Personal insurance in Brazil accounts foronly 2.7% of GDP, compared to 8% in theU.S. or Europe,” says Tatagiba.

The company relies on advertising toreach a low-income market segment of newconsumers, whose families are at highrisk if the main wage earner dies.Individuals can take out coverage up to theage of 80, says Tatagiba.

To help the uninitiated visualize thevalue of a lifetime benefit, the companyautomatically enters all clients into a lot-tery with cash prizes.

Capemisa also offers themed insurancessuch as samba or football insurance thatsends 10% of profits to samba schools ora soccer team, and “pink insurance” forwomen, with a logo that boosts cancer

awareness. Capemisa also seeks to helpentire families by operating an outreachprogram that enables children to study orto receive medical treatment.

Says Tatagiba: “Technology nowadaysenables us to work with low costs and with-out the need for intermediaries. I canreach anywhere in Brazil from here with-out high costs of communication.”

The company is preparing for a stockexchange listing to raise capital for futureinitiatives.

Energy in a BottleViton 44, which produces high-energy

drinks from 34 different types of Brazilianfruits, is one of the companies whose saleshave benefited from the growing number ofconsumers. Created in 1999, the company’sbusiness strategy is to produce and promotean extensive range of such drinks, and it isthe leader in Brazil’s soft drink sector.

The first drink it offered was Guaravita,made from juice extracted from guarana,an energy-boosting Amazonian fruit the sizeof a coffee bean with about twice as muchcaffeine. Guaravita was followed byGuaraviton, which, in addition to guaranaextract, contains taurine, ginseng andother herbs and coloring.

Guaravita and Guaraviton are cheaperthan other high-energy soft drinks, saysNeville Proa, the founder and president ofViton 44.

“We have drinks for any taste, and all ofthem are alcohol- and CO2-free and safe toconsume,” he says. “They are made fromnatural produce with a composition ofincredible quality, and prepared in ourown labs.”

Viton 44 doesn’t export its drinks, whichare distributed in glass containers, to theU.S. because of their limited shelf life. ButProa is considering the possibility of sell-ing them in the U.S. in syrup form.

The company has three productionplants, in Rio de Janeiro, São Paulo andMinas Gerais. Franchises supply the rest ofthe country. Proa’s aim is to expand Viton44, ideally with a partner who has in-depthknowledge of the soft-drink sector.

Clear ResultsGrupo Europa, the country’s market

leader in producing and supplying waterpurification systems, has achieved double-digit growth every year since its creation in1984 and expects to achieve close to 15%this year.

Múcio de Souza, the group’s founder andpresident, attributes its success to its policyof using top-of-the-line technology and

Middle-Class Growth FostersNew Opportunities

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manufacturing its products to the highestnational and international standards.

“We use hollow fiber technologyimported from Japan and ultravioletlight technology from Holland andHungary,” says de Souza.

A key element of the group’s strategyhas been to establish a presence in everyone of the country’s state capitals and inevery important city. It now has 352offices, 176 stores and 171 kiosksthroughout Brazil. The six companies inthe group manufacture 20,000 waterpurifiers a month and have the capacityto triple production without installingadditional facilities.

Despite its name, Grupo Europa is anentirely Brazilian concern.

“When we started the group, we chosethe name Europa because the continent hasan image of solidity and tradition, two keyfactors that we wanted our group to pos-sess,” says de Souza. “The Europeancontinent is well regarded for its technol-ogy, and therefore it symbolizes the threepillars of the group: solidity, traditionand technology.

“We show one of our purification fil-ters being cleaned after 15 days of use,”

says de Souza. “People can see the immenseamount of pollutants that have beenextracted. The water is dark, muddybrown. Our systems extract chlorine andbacteria, leaving clean, crisp water.”

Going for GoldAnother enterprise that has flourished

thanks to the burgeoning ranks of the mid-dle class is Grupo SBF, the leadingsporting-goods chain in Latin America.For the past decade SBF has expanded at anaverage annual rate of 35%, and it now has125 stores operating under the brand namesCentauro, By Tennis and Almax Sports.

“We doubled our network size in thelast two years, and the group now hasalmost 6,000 employees,” says SebastiãoBomfim Filho, the group’s founder andchief executive.

SBF began operating in cities with a mil-lion inhabitants and then spread topopulation centers ranging from 250,000to 750,000. The By Tennis and Almaxbrands have a presence in shopping mallsthat target higher economic sectors, whileits Centauro chain targets lower economicsectors.

“As soon as the lower economic classes

“We chose the name Europabecause the continent has an

image of solidity and tradition,two key factors that we

wanted our group to possess.”

Múcio de Souza,Founder and President,

Grupo Europa

Noblesse HF Inox:Pure water 24 hours a day

are able to develop and practice moresports, we will have a great opportunity toexpand our business,” says Bomfim. “Thegroup has an expansion plan in readinessto meet this increased demand.”

SBF’s competitive advantages, he says, areits logistics network, which extendsthroughout the country; its focus on thequality of the products it sells; and its eth-ical sales policy, which is built upon merit,transparency and profitability.

In addition to selling global brands suchas Nike, SBF has its own brands that fill inniche markets.

“For example,” says Bomfim, “theBrazilian woman prefers a different fit ofclothes [compared] to European women.Foreign manufacturers have difficulty inadapting to this, so our brands enter theseareas in an efficient manner.”

Bomfim plans to open an average of 50new stores per year, with the aim of having400 premises by 2014, along with signifi-cant income growth.

“In 2014, the year of the World Cup inBrazil, we will be one of the ten largestglobal players in sports products,” he says.“Internationally, the market is starting anew phase of great events, incentives andinvestments, which will make the yearsbetween 2010 and 2020 a golden decade.”

Uniquely CariocaThe higher sales of grocery products also

reflect the increased spending power oflower-income groups.

Prezunic, a Rio de Janeiro supermarketchain that achieved the country’s seventh-

best profits last year, opened its 30th storein November last year. All of them arelocated in the state of Rio de Janeiro.

“When we opened the company in 2001,we had no idea that by the end of thedecade we would have inaugurated 30stores,” says Andréa Cunha, the com-pany’s president.

Prezunic’s well-defined business strategyincorporates optimized shelving spaces,impressive in-store hygiene, stores thatdon’t exceed 27,000 square feet in size, andan average of 20 checkout counters perstore. It has achieved annual sales of justover $1 billion in 2009, an increase of 18%over 2008. The company provides friendly,local customer service that is reflective ofthe warm and outgoing Carioca personal-ity creating a close-knit connection with thecommunity.

Prezunic provides its 6,700 employeeswith health plans and opportunities tostudy. It also offers work to people withphysical disabilities and senior citizens.“Our people are very creative and caring,”says Cunha. v

11BRAZIL= PROMOTION

“Internationally, the market isstarting a new phase of great

events, incentives andinvestments, which will make

the years between 2010 and2020 a golden decade.”

Sebastião Bomfim Filho,Founder and Chief Executive,

Grupo SBF

12 BRAZIL= PROMOTION

Connecting aContinent

In the world’s fifth-largest coun-try by area, with 5,000 cities andmany more remote communities

still in the early stages of develop-ment, logistical expertise in themovement of goods is a vitalrequirement.

Grupo Beta, a Brazilian enter-prise consisting of five independentcompanies, provides that expertise,specializing in storage and distribu-tion by air, road, sea and river.

“In a region like Belém orManaus, it can take four days byboat to deliver goods,” says MichelAtie, the company’s president.

He estimates that logistical busi-ness has tripled in Brazil in recentyears and is continuing to grow.

Grupo Beta is planning to expandits operations into nearby countries,and is seeking a partner willing toinvest in transforming the company

into the continent’s best and largestlogistics operator.

Headquartered in São Paulo,Grupo Beta has a modern opera-tional management and controlheadquarters, 16 branches, its ownfleet of cargo aircraft and light vehi-cles, more than 2,500 square feet ofstorage space, and 85 operatingbases covering 1,200 cities.

“We have made a six-year-longinvestment in developing a strongand smart system of operations thatis the best in Brazil,” says Atie.

With annual earnings of just over$100 million, the group is aiming forannual growth of between 20%and 40%.

Atie anticipates expanding Beta’soperations into Bolivia, Peru,Colombia, Venezuela, Argentinaand Chile, as well as the U.S.

“There is space for us to make, atthe very least, two or three flights aweek taking freight to and from theU.S., if we can establish reciprocitywith the U.S. market,” he says. v

Setting the Standardfor Healthcare

An exclusivity contract with the electronics pow-erhouse Siemens ensures that Hospital Moinhos deVento obtains the most advanced medical technol-ogy, such as the latest nuclear imaging equipment,before it is available anywhere else in Brazil.

The hospital — located in Porto Alegre, the cap-ital of Rio Grande do Sul, the country’s southernmoststate — is also the only one in the area whose highquality is certified by the Joint CommissionInternational, the body that sets the global bench-mark for healthcare facilities.

Founded 82 years ago by German immigrants,Hospital Moinhos de Vento achieved billing of morethan $130 million last year and expects growth of12% this year.

Among the innovative measures proposed by JoãoPolanczyk, the hospital’s CEO, and the hospital gov-ernors are the creation of a sister hospital that wouldprovide cost-free care to patients requiring it, andthe founding of a medical consortium with otherleading hospitals in Brazil. The latter plan, Polanczykbelieves, would benefit from the hospital’s acquir-ing international partners — “especially insurers,”he says.

13BRAZIL= PROMOTION

Brazil’s banking sector is expected tocontinue recording sizable growthover the next four years, thanks to

its cautious credit policies. And Banco doBrasil, the country’s oldest financial insti-tution, plans to capitalize on the situationby investing $40 million to create moreoffices in the U.S.

Having begun operating in 1808, the

bank is a 202-year-old institution that keepsmodernizing every year, says AldemirBendine, its president and chief executive.

“We are working to consolidate ourposition in the Brazilianmarket, but wewantto grow on the world stage as well,” he says.

Banco do Brasil has a long-standing tra-dition of maintaining offices abroad, andhas a presence in 23 countries. In Japan,approximately 140,000 members of the350,000-strong Brazilian community areclients of the bank.

“There are about 1.4 million Braziliansliving in the U.S., the largest community ofBrazilians living abroad, and we want toreplicate that success there,” he says. “Ourfirst move is to wait for authorization fromthe Federal Reserve to open a bank in theU.S., where we will be able to helpBrazilians and Brazilian companies andstimulate trade exchange.”

The bank has agencies in New York andMiami, and plans to open others in NewJersey, Connecticut and Massachusetts,where there are also large Brazilian com-munities. It is also considering expansionin Latin America. Banco do Brasil isalready South America’s largest bank.

“Banks cannot survive without scale,”says Bendine, explaining why his institutionwill continue to seek acquisitions both toincrease its scale of operations and toenter niche markets.

Through the acquisition of Nossa Caixa,Banco do Brasil became the biggest bank inSão Paulo, while it entered a partnershipwith Banco Votorantim specifically to gainaccess to the domestic car-financing market.

Bendine aims for his bank to be presentwherever else in the world Brazilian com-panies have established themselves.

“I’ve thought about Banco do Brasilbecoming the largest bank in theAmericas,” says Bendine. “Maybe it willnot happen in my term, but I want to leaveseeds for my successors to do it in thefuture.” v

Ready forthe WorldStage

Aldemir Bendine,President and

Chief Executive,Banco do Brasil

The founder of Microsoft was attend-ing a meeting on the 24th floor of abuilding in Brasilia in 1996 when,

looking idly out of a window, he spotted aplane displaying a sign: “Welcome BillGates, TBA.”

Being Bill Gates, he asked to personallymeet whoever was responsible for the sign.And that is how Cristina Boner, the founderof Grupo TBA, became a business partnerof Gates and Microsoft.

Today Grupo TBA is one of the top infor-mation technology (IT) companies in Brazil,providing a comprehensive range of networkinfrastructure. With sales of $227 million in2009, the group is aiming to double that fig-ure within two years and, in the longer term,to become a leading multinational technol-ogy group active in the mobility, cloudcomputing and software markets.

“In the past, technology was a businessof low volume and high price,” says Boner.“Today’s technology is high volume and lowprice. This is a radical change that is affect-ing all our lives. Geographically there is anannual market of $240 billion that is notbeing served.”

Currently, says Mauro Muratorio Not,TBA’s CEO, the group caters to Brazil’sinternal market, but it is opening an impor-tant window onto the foreign market.

“While Microsoft, Oracle and IBM con-tinue to develop technology, they requirecompanies like TBA to pass this technologyon to users,” he explains.

The penetration of broadband and per-sonal computing services is still relativelylow in Brazil, but with the upward mobil-ity of consumers, use of IT equipment isincreasing among the general populationand small businesses at the bottom of theeconomic pyramid.

From 1948 until 1992, the governmentbanned the import of IT. This policy hadsome benefits, saysMuratorioNot. Brazilianshad to improvise or develop their owntechnology, and it made themmore creative.

“Because of the country’s history ofinflation, the banking system had to be veryagile, and technology was the key element

to making that happen,” he explains. “SoBrazil developed a good technology forautomation.”

There are two specific lines of growth forthe future, he says: cloud computing andtelephone mobility.

“This will bring down the final barrier forpeople and small businesses to enter the dig-ital world.Much of our investment is focusedon cloud computing, data software as a serv-ice and an area ofmobility and e-storage. Themore people use the Internet and the cloud,the more they will need storage.”

The Country of the Future“For the last two decades, Brazil was

[regarded as] the country of the future,” saysJaques Scvirer, president of Medidata,another leading systems, data and voicecommunication network. “Today thatfuture has arrived.”

Medidata has been active in the IT mar-ket since 1976. Scvirer says his company’sbest quality is its ability to reinvent itself inaccordance with the ongoing evolution ofdigital technology.

During the period of the IT import ban,when everything except mainframe comput-ers had to be developed and manufacturedin Brazil, Medidata transformed itself intoa systems house, using available IT compo-nents such as disk drives, video terminals,printers and tapes to add internally devel-oped application software.

“The resulting computer system had abetter performance, supported more termi-nals and processed applications much fasterthan the computers offered by the originalmanufacturers,” says Scvirer. “We suc-ceeded in acquiring important customers,

TheFutureIs Now

14 BRAZIL= PROMOTIONChad

Baker/Getty

Images

15BRAZIL= PROMOTION

domestically and internationally, includingShell and Exxon.”

Medidata implemented online billingfor the gas and oil warehouses situatedaround the country.

“We started as a systems house andbecame a system integrator with open-architecture products,” Scvirer says. “Weclosed our manufacturing facility andtransformed our development staff intointegrator engineers. We are now one of thelargest integrators in Brazil, with expertisein both IT and data communications.”

With 60% of its business coming fromSão Paulo and 30% from Rio de Janeiro,Medidata has a roster of clients thatincludes large companies like Telefónica,Vivo, Oi, Petrobras and Itaú Unibanco aswell as medium-size enterprises. Havingachieved annual sales of around $210million in 2008, Medidata’s goal is to dou-ble the size of the company every three orfour years.

It plans to expand in the Brazilian mar-ket by a process of diversification. “Wewant to acquire businesses that have syn-ergies with our own and that are operatingin markets in which we are not present,”says Scvirer.

Pillars of SuccessGrupo Ação, another technology firm,

has 22 years of experience in Brazil’s IT sec-tor. It has followed up on its success byacquiring Aktio, a company that distributesIT solutions in Argentina and Uruguay. Itnow intends to expand its operations intoColombia, Paraguay, Chile, Venezuela andMexico.

The secret of its success, says Enio Issa,Ação’s president, is that it gives client com-panies a complete solution for their variousIT demands.

“For our clients, taking product solutionsfrom several companies becomes increas-ingly complex and expensive,” he explains.“As company CEOs become increasinglyfocused on their own business activities, theyhave less time to devote to their technology.

“We offer all IBM solutions that can becustomized to the needs of the customer,and we aggregate all the tools and assumethe risk in any project. We have a projectmanager who manages everything. If itdoesn’t work for our clients, they do nothave to pay.”

The three pillars of Ação’s approach areplanning, commitment and hard work. Inthe South American market, detailed plan-ning is not very common, he says.Commitment for the long term is also vital,as is hard work. Ação achieved a revenue

of $284 million in 2008 and aims toachieve $570 million in five years.

Issa sees no geographic restriction on thecompany’s expansion plans.

“We want to expand operations in LatinAmerica, increasing Ação’s portfolio of part-ners and customers and connecting withbusinesses in neighboring countries,” saysIssa. “In addition, we have a wider rangeof offerings for the entire Hispanic market.”

He sees large- and middle-market oppor-tunities in Russia, India and China, andbelieves there would be space for Ação inthe more mature middle market of the U.S.

Ação has received IBM prizes for inno-vation and best distribution, and on fouroccasions has won distinction as the largestdistributor of Oracle in Latin America.

Innovative StrengthBrazil’s leading exponent of Internet

hosting, Locaweb, has half a million hosteddomains and more than 1.7 million e-mailaccount clients. Its corporate clients includeenergy companies and financial institutions.

Locaweb has demonstrated its innovativestrength by the manner in which it has har-nessed the cloud computing concept.

“We launched a cloud product that anybusiness can understand,” says Locaweb’sfounder and president, Gilberto Mautner.“Our site has a video explaining what cloudcomputing is, how it can be used, howmuch it costs and how it can be bought. Weexplain it in such a way that clients whohave no technical background can under-stand its benefits.”

Locaweb already has 22% of the host-ing market. Locaweb’s mission, he says, isto facilitate its clients’ access to innovation,so that they can succeed through technol-ogy that enables a reduction of costs anda means of gaining more business. v

Locaweb’s Data Center

16 BRAZIL= PROMOTION

InnovativeTelecom SectorOffers GrowthPotential

The acquisition of GVT, Brazil’s fastest-growing fixed-line telephone andbroadband carrier, by the French

media conglomerate Vivendi has focusedattention on the potential for growth in theSouth American nation’s telecommunica-tions sector.

The move is expected to intensify com-petition between GVT and the other majorplayer, Net Serviços, Latin America’s largestmultiservice communications company. Ina deal valued at $4.2 billion, Vivenditrumped a $4 billion bid from Telefónica ofSpain to land GVT.

“This was an opportunity not to miss,”says Jean-Bernard Lévy, Vivendi’s CEOand now also chairman of GVT’s board ofdirectors. “We are very excited with GVT’sbusiness model. It is very innovative and hasefficient technical solutions coupled withvery sophisticated marketing tools.”

Broadband penetration is not high inBrazil, he points out, and this gives GVT asignificant competitive advantage. “Wefeel we can leverage this over the years byincreasing penetration,” he says.

The French company has opened up acredit line worth $350 million to sustainGVT’s expansion and investment plans.These aim to extend the company’s presenceand increase its broadband reach in thenortheast and southeast areas of the coun-try, particularly in nine key cities andthroughout the Rio de Janeiro and SãoPaulo states.

Levy says that Vivendi’s involvementwith GVT and Brazil should be viewed aspermanent. “The fact that Vivendi has along-term vision for GVT will be an essen-tial success factor,” he says.

Emphasizing that Vivendi pursues adecentralized form of management, heexplains: “GVT will remain an independ-ent company, with decisions made in Brazilby the people who are as close as possibleto the market: consumers, customers, com-petitors, regulators and other stakeholders.”

GVT is revolutionizing the telecomsindustry by offering the most up-to-datetechnology at a fraction of the prices itscompetitors charge, says Amos Genish, thecompany’s CEO.

A recent survey named GVT one of the

25 most innovative companies in Brazil.“The pursuit of innovation pervades

GVT in all management aspects and is a keyfundamental of our business model,” saysGenish. “This kind of recognition showsthat the efforts of all our team towardsinnovation are being noticed by the mar-ket as a whole.”

GVT’s net revenue is forecast to rise by26% this year and its earnings before taxby 30%.

In the competition with GVT that liesahead, Net Serviços’ current advantage is itsnetwork. The company, which offers tele-vision, broadband Internet and cabletelephone connections, already has a pres-ence in 93 Brazilian cities and has a 50%market share of themed television and a38% market share of broadband, serving10.7 million homes.

In 2009, the company’s Pay TV client baserose by 20% to 3.6 million over 2008.Broadband penetration increased by 30% to2.8 million and telephone lines in serviceincreased by 42% to 2.5 million, while netrevenue rose by 25% to $2.6 million.

“For a subscription of R$39.90 (US$23)per month, Net offers telephony, Internetconnection of 100 kilobits per second,and a TV signal through cable in every cor-ner of the house, providing free-to-air andmust-carry channels,” says José AntonioGuaraldi Félix, Net Serviços’ CEO.

The network is available to homes inevery economic sector.

“The challenge is to find a product thata lower-income audience wants and, moreimportant, that meets its needs,” saysFélix.

He believes that, given the current eco-nomic developments in Brazil, thosebelonging to less-advantaged economicclasses will improve their purchasing powerand move up.

“I believe that human behavior is aimedat improvement and that the upward mobil-ity is out there,” says Félix. “In the future,everyone will have more or less the sameability to do things, the same bandwidth andcontent. What will differentiate companieswill be the level of service. So we have agreat focus on operational excellence. Wewant to be the best provider of multiservicein the country.”

He has no thoughts of expanding Net’sactivities elsewhere in Latin America,because Brazil offers sufficient opportunityfor growth. However, he believes the com-pany would benefit from an Americantechnological partnership to maintain itscompetitive edge. v

17BRAZIL= PROMOTION

Powerhouse Focuses onCorporate Responsibility

Vale, Brazil’s second-largest companyand the world’s largest producer of ironore, is projected to grow at an annualaverage rate of 12.6% over the nextfour years.

Its investment budget for this yearincludes expenditure of $12.9 billiondedicated to sustaining existing opera-tions and promoting growth throughresearch and development and projectimplementation.

The minerals the company minesprovide the components for productsthat are essential to everyday life,including electronic equipment, cars,computers and construction materials.

In addition, Vale has earmarkednearly $1 billion for investment in cor-porate social responsibility this year,including $829 million for environmen-tal conservation and protection and$170 million for social projects.

Vale believes that responsible miningactivities that are committed to sustain-able development provide one of thebest opportunities for communities toreach their full socioeconomic potential.

Through the Vale Foundation, thecompany develops programs in part-nerships with nongovernmentalorganizations, local governmentauthorities and community groups topromote the social, environmentaland economic development of everylocation where it operates.

Vale also invests in environmentalconservation programs to rehabilitatenative plant species typical of theAtlantic rainforest and Cerrado andAmazonian eco regions, and makes useof advanced reforestation technologyto revive the forestry cycle in five of theseven Brazilian biomes.

With assets of more than $100 billion,it is the country’s largest contributor tothe Brazilian balance of trade and hasa workforce of 100,000 people.

In addition to its iron ore miningactivities, the company is a leading pro-ducer of nickel, copper concentrate,bauxite, alumina, potassium, kaolin,manganese and iron alloys. It is alsoBrazil’s biggest provider of logisticalservices, having developed intercon-necting railways, ports and its own seaterminals. v

18 BRAZIL= PROMOTION

The decision of two international mer-chandising companies to extend theirmulti-million dollar sponsorship of the

FIFAWorld Cup to include the 2014 soccercompetition in Brazil is the latest testamentto the huge influence sporting events haveon global trade and commerce.

Continental, the leading German manu-facturer of tires for cars and trucks, and theBrazilian-based global food supplier Seara,have both taken this step in recent weeks.

Although the precise cost of the extendedsponsorship has not been disclosed, it will nothave come cheap. Continental is reported tohave paid around $10 million for the spon-sorship of this year’s FIFA World Cup,which kicks off in South Africa in June.

“We are convinced that we will be able

to boost our brand awareness considerablythrough the 2014World Cup in Brazil, espe-cially in the currently growing regions ofSouth America and Asia,” says NikolaiSetzer, an executive board member ofContinental. “For us, professional footballis perfectly suited as a central communica-tion platform through which we haveconsiderably increased awareness of our pre-mium tire brand.”

Marcos Antonio Molina dos Santos, thechief executive of the Marfrig Group whichowns Seara, expresses a similar view.“Football is a great passion worldwide andhelps to improve the quality of life and bringpeople together,” he says. “This is perfectlyaligned with our communications strategyfor the Seara brand, which offers healthy,delicious and high-quality food to con-sumers worldwide.”

BP-owned global lubricants brand Castrollaunched a 12-month business-to-businessmarketing campaign in support of its statusas an official sponsor of the competition, tar-geting customers in its aviation, industrial,marine and energy sectors. The company isusing its “more than just oil” theme to com-municate business performance and productbenefits in the context of soccer.

“The B2B sector is a huge, global marketfor the BP Group and using sponsorshipwith this audience is a first for us,” says PaulLowther, Castrol’s global marketing com-munications manager. “Our aim is to use theopportunity of the World Cup to reinforce

The Business of SportBranding their names on theworld stage – sports sponsorshipis a win-win game.

Rio de Janeiro’s Maracana Stadium, due to hostthe 2014 World Cup Final and the 2016 SummerOlympics.

Brazilian Formula One driver Felipe Massa ofScuderia Ferrari at the Shanghai International cir-cuit in April

Adalberto

RiosLanz/Sexto

SolCatherineIvill/AMA/Corbis

FranckRobichon/epa/C

orbis

BP and Castrol’s B2B brands, buildingbrand awareness and the understanding ofour expertise in our B2B sectors, in a funand engaging way.”

As world communications become evermore integrated, so do social and culturalcontacts. Sport, in particular, has becomea catalyst for nation image enhancement,for business branding and for big businessinvestment opportunities.

Ticket sales, sponsorship, merchandisingand other commercial revenues, along withthe sale of television rights, corporate hos-pitality and non-match-day events atsporting stadiums have become big business.

Sportswear brands Adidas, Nike andPuma are the most recognizable soccersponsors in the top five European markets,according to a recent survey. Companiesthat have most recently become top spon-sors include Samsung, UNICEF andMasterCard.

As Brazil prepares to host both theFIFA World Cup and then, two yearslater, the Summer Olympic Games, thecountry is attracting international attentionon an unprecedented scale. Like otherhost countries and cities on previous occa-sions, it is preparing itself for the glare ofthe global spotlight.

The Brazilian government is spendingaround $890 billion upgrading the coun-try’s infrastructure ahead of theWorld Cupand Olympics, with more than $600 billionbeing invested in the construction of roads,railways, ports, waterways and airports, aspart of a plan that will also include a fea-sibility study for three new bullet-train lines.

Soccer is by far the world’s most popu-lar team sport. The FIFA World Cupcompetition is staged at four-yearly inter-vals and the previous one, hosted byGermany, had a total television audience ofover 26 billion.

The final of the Champion’s League, in

which the top teams from each Europeannation compete in a knock-out competition,was watched last year by 500 millionviewers worldwide. And as global commu-nications become more integrated, thesums being paid by commercial organiza-tions for the privilege of sponsoringsporting events continue to increase, as dothe turnovers of companies making and sell-ing sporting goods.

Rival apparel brands Adidas, Nike andPuma compete fiercely with their respectivesponsorship of the teams and playersinvolved in the various tournaments. In2008, Nike paid a reported $64 million ayear to acquire the sponsorship of theFrench national team from 2011 to 2018.This was four times what Adidas paid forthe same sponsorship in a previous contract.

The 2006 World Cup competition gaveAdidas a huge sales surge. The companysold 15 million soccer balls around the timeof the competition. Pre-sales for 2010have already exceeded that figure.

With South Africa hosting the competi-tion this year, Jochen Zeitz, chief executiveof sports goods maker Puma, says that thecompany is preparing to significantlyincrease its sales, production and sourcingin Africa in the coming years by using theWorld Cup as a focal point.

Puma sponsors 11 African teams and thecontinent’s star player in Europe,Cameroon’s Samuel Eto’o. It is also asupporter of the “Cotton made in Africa”initiative which aims to improve the livingconditions of African cotton farmers.

Famous soccer players such as Brazil’sPele and Argentina’s Maradona originallybrought Puma’s brand name to interna-tional attention, and current sporting starssuch as the Jamaican sprinter Usain Boltkeep the company in the internationalspotlight.

Puma also has a motorsports divisionwhich backs the Ferrari and Red Bull F1teams and makes clothing for twoNASCAR racing teams while sponsoringand supplying the Ducati Corse MotoGPmotorcycle team.

Germany’s soccer league, the Bundesliga,adds more than $6.6 billion to the Germaneconomy, according to a report fromMcKinsey, the global management consul-tancy.

The world’s richest soccer clubs for thepast five years have been Spain’s RealMadrid and Barcelona. Last year, Realbecame the first team, globally, to see itsannual revenues top $532 million. It was

helped by the sale of television rights thatguaranteed the club more than $1.4 billionover seven seasons.

The combined revenues of Europe’s top20 soccer league clubs was over $5.2 bil-lion last year, up from $34.6 million theprevious season.

In terms of players’ incomes from theirsport, the English premier league wasranked as the richest soccer league in theworld, but only fourth in all sports.American basketball’s NBA, cricket’s Indianpremier league and major league baseballin the U.S. all paid more to their players.

Baseball’s New York Yankees pays thehighest wages of any sports team in theworld, according to a new survey. Theclub’s first-team players receive an averageof $139,158 a week. v

19BRAZIL= PROMOTION

Soccerfavorites

Brazil’s star-studded soccer team isone of the betting public’s favorites towin the World Cup once again thisyear. Brazil is the only country whoseteams have participated in all 19World Cups and to have won the com-petition a record five times. TheBrazilian cup squad will, as usual, bepacked with international renownedplayers.

Goalkeeper Júlio César has partici-pated in 18 World Cup qualifyinggames and his safe hands continue tobe a fundamental facet of the team’ssuccess, while striker Luis Fabiano,who was the top scorer with fivegoals in the 2006 competition, two ofwhich helped his team defeat the U.S.,is again expected to be among the topscorers.

These two pages were prepared specifically for this reprint and did not appear in Forbes magazine

“Our aim is to use theopportunity of the World Cup toreinforce BP and Castrol’s B2Bbrands, building brandawareness and theunderstanding of our expertisein our B2B sectors, in a fun andengaging way.”

Paul Lowther, Global MarketingCommunications Manager,

Castrol

Brazilian national soccer team goalkeeperJulio Cesar during a training session.

Marcelo

Sayao/epa/Corbis

www.desenvolvimento.rj.gov.br

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