Panama-based Top Brands International has expanded rapidly in the Latin American duty free segment in recent years. Even though initial expansion coincided with the COVID-19 pandemic, the company, owned and managed by the Yahoros family, has continued to look for growth opportunities throughout the Americas. . Neutral in Uruguay In 2019, Top Brands took a […]
Neutral
Top Brands’ Neutral by Luryx enters Brazil with acquisition of DF store at Foz de Iguazu’s Dream Park
Neutral by Luryx, part of Top Brands Internacional, has announced it is expanding into Brazil with the acquisition of Mazenta’s retail operation in Foz de Iguazu. The company has signed an exclusive contract to operate the duty free store in Dream Park, the city’s most important amusement attraction. The new store, set to open in […]
Essence Corp helps build the LATAM border business
Essence Corp has taken full advantage of the unique opportunities that opened for it with the establishment of the Brazilian duty free border business in 2019. The Miami-based beauty distribution company has so far added 20 new doors from the Brazilian border to the 50 or so outlets it supplies on the Uruguay border, plus […]
One on One with Marcelo Montico, CEO, Neutral by Luryx
Neutral under new ownership looks ahead with confidence One of the most important news stories in Latin America in 2019 was when Panamanian company Top Brands International acquired Neutral Duty Free, the largest duty free chain in Uruguay, that July. The acquisition made Top Brands one of the largest duty free players in the region, […]
Uruguayan border stores begin slow recovery
In spite of closed borders throughout Latin America, several duty free stores are continuing to operate on the Uruguay – Brazil border. The stores on the Uruguayan side of the border are looking after the shopping needs of their Brazilian customers, who reside in neighboring twin towns immediately adjacent to their Uruguayan border. The depressed […]
Neutral celebrates 30 years serving Uruguay border
Congratulations to Uruguayan border store, Neutral Duty Free, which celebrated its 30th anniversary on January 24 in Chuy, the location of the group’s original shop opened 30 years ago to the day. Neutral is the largest duty free chain in Uruguay, employing more than 500 staff across its nine locations. Neutral CEO Enrique Urioste hosted the […]
One on one with Enrique Urioste: Immediate Past President ASUTIL & CEO Neutral Duty Free
October ushers in “big win” for Uruguay border duty free as Mercosur economies start to recover The business on the Uruguay border is showing encouraging signs of recovery after taking a deep nosedive over the last year. “The industry on the border in Uruguay closed the year minus 50%, and we (Neutral) closed minus 44%. We […]
How Uruguay’s Melancia Mall aims to change shopping on the Brazilian border
A TRAVEL MARKETS INSIDER SPECIAL REPORT By John Gallagher On Thursday, November 5 of this year, the US$70 million Melancia Mall, the largest shopping complex in Northern Uruguay, opened its doors on the outskirts of the border town of Rivera. Originally scheduled to open in the first quarter of 2014, poor weather –including heavy […]
Uruguay’s Melancia Mall opens
Despite the challenging economic situation facing retailers who depend on Brazilian business at this time, the massive 33,000sqm Melancia Mall opened for business in Uruguay on Thursday, Nov. 5. The complex, located in the border town of Rivera in Northern Uruguay, is adjacent to the state of Rio Grande do Sul in Brazil. It is […]
