Informação jurídica inteligente
 Brasil | +55 (11) 31 81 77 29

Nadir targets U.S. market with large glassware

Document Citado por Related
Vincent

A leader in the Brazilian glass household utensils market, the century-old company Nadir—formerly known as Nadir Figueiredo, which dropped its founder’s surname two years ago—is aiming to boost its exports to the United States following the expansion of its plant in Colombia.As a potential candidate for an IPO on B3 and currently under the ownership of the private equity fund HIG, the owner of the Duralex and Marinex brands and the maker of Brazil’s traditional copo americano ("American glass cup") holds less than 1% market share in the U.S. However, it is optimistic about increasing that to 3% by 2025 through adjustments to meet customer preferences.In Brazil, one of the company’s hallmark products, the "American glass cup"—which, despite its moniker, is Brazilian and was launched in 1947 by Nadir Figueiredo designed for the tropical climate with a 190 ml capacity, crafted to keep beer chilled—is not expected to be the main export to the U.S. "Americans prefer larger glasses since everything is served in bigger portions there," stated CEO Patrício Figueiredo, a descendant of the founding family, who is no longer a shareholder following the sale to HIG.A key strategy for expanding in the U.S. market is leveraging its operations in Colombia. By acquiring Colombian Cristar in 2021, a glassware company previously part of the American O-I Glass group, Nadir has taken advantage of tax benefits for exports to North America through bilateral treaties. "In Brazil, the export tariff to the American market is 28%, but it’s zero from Colombia," Mr. Figueiredo explained.Colombia represented 22%...

Para continuar a ler

PEÇA SUA AVALIAÇÃO

VLEX uses login cookies to provide you with a better browsing experience. If you click on 'Accept' or continue browsing this site we consider that you accept our cookie policy. ACCEPT