Strategic Analysis For The Internationalization Of The Brazilian Brand Lina Dellic


This work will analyze the internationalization strategies of the Brazilian fashion brand Lina Dellic. The brand has pillars that sustain it and have made it grow rapidly in the Brazilian market, they are: engagement and care of the productive chain and partners, production of high quality and durable pieces, using the timeless and minimalist design and a restrict and neutral color palette (black, gray, white and off white) for the concept to be aligned. Delivering to the customers parts made through a fair process, which they can use in a long-term period and having flexibility with other pieces in the wardrobe. The company sells online, attending the retail market through its own website and through other partner websites, and through the showroom and national fairs, attending the wholesale market. It should be said that the concept of the brand was developed through analysis of trends in the European and North American market by the founder Gabriela Bianchim Bereta. Therefore, to the brand be prepared and to know better the next possible markets and ways of entry, this thesis selected two alternatives to be studied: presence in fashion fairs in Paris or Milan or wholesale sale through showrooms in Paris or Milan.


The internalization process alludes to the strategic move to expand business across borders. It is essential for ensuring firm competitiveness and sustainability (Casson, Porter and Wadeson 1223). According to Antràs and Yeaple, internalization facilitates innovativeness that is critical to the survival of the company in the global industry (64). Martinez alludes that internationalization differs from globalization in the sense that it is limited to trade. In this context, globalization entails the other activities and operations that influence the global production chain. In this light, the intent of this paper is to offer a strategic analysis for the internalization of the Brazilian brand Lina Dellic in the European market. The study will focus on the markets in Paris and Miran in France and Italy respectively, which are already established fashion markets recognized across the globe.

The study is divided into different segments that address the important aspects of the successful establishment of the company in the target markets. The possible strategies and markets will be analyzed and the background outlined. The introduction will briefly exhibit methodology employed in making sense of the conclusions of the research. The company will be introduced to its history and current situation, to contextualize the concept of the brand and sales channel. Also, the work will proceed with the analysis of the category of product that falls into clothing, description of the product chain, target public and staff.

The research is important because Lina Dellic was developed from a concept based on study and interest carried out by the brand’s entrepreneur, which relied on a tendency of the European and North American market. Also, because international fashion fairs and showrooms located in Milan and Paris have come into contact with the Lina Dellic team, the author of this thesis and also the company’s entrepreneur will analyze through which the best strategy for the internationalization of the brand taking into consideration these two markets and sales channels. Notably, the two markets are critical in the global fashion industry due to their historical significance. For instance, Grail Research reports that the Paris Fashion Week is of historical significance because it dates back to the early 1970s, while the Milan Fashion Week is recognized as an important fashion event across the world, which even had financial support from the Italian government during the Euro economic crisis. The markets of Paris and Milan will be analyzed, as well as the main international fashion fairs and showrooms, which have to meet the brand, as well as, for comparison purposes, exploratory research will be done to have access to information of more points of sale of these same categories.

The two cities mentioned here will be analyzed macroeconomically through descriptive and qualitative research. Also, the main frameworks for the study in question will be used, aiding in the distinction and the choice of the best market and sustaining the conclusion of this thesis. To do so, we will use analysis risks and opportunities of doing business in Milan and Paris, CAGE and OPI, which will be further explained.

One of the most used internationalization theories is the Uppsala Model, also known as the Stage Model, whose explanation is based on conceptualizing internationalization as an incremental process of companies in order to increase their involvement at the international level stepwise (Bhardwaj). This model is based on two assumptions: resource-based theories and the incremental process. This thesis will not use this model, because the possible choices of countries and cities for brand internationalization have been designed by the factors already discussed here, and the company did not rely on neighboring countries to aggregate knowledge and then expand its strategy to other locations. Paris offers a more reliable market due to the participation of key partner in the Paris Fashion Week compared to Milan that needs the company to establish new connections.

The financial aspect of each possible strategy will be raised and considered in the choice, but it will not be the most important aspect of the final decision making, but rather an alignment between brand concept, public, market and sales channel. It will be raised what each alternative can generate administrative, legal and operational expenses for the brand, in addition to the fixed cost of each channel. The sales channels (international fashion fairs and showrooms) will be studied taking into consideration: present brand mix, the audience reached, structure, exposure period and cost. In this light, Paris presents a better investment opportunity compared to Milan because of the large customer base, the industry is older, and the capacity of partners such as ABEST and Apex-Brazil to participate in the Paris market.It should be noted that despite the innumerable ways of entering a company in an international market, such as franchising, subcontracting, greenfield investments, acquisitions, in the fashion industry the easiest way to penetration are by showrooms or international fairs (ABEST). According to ABIT, the Brazilian textile industry has benefited significantly from participation in showrooms. This is due to different factors like investment, structure, operating costs and low brand recognition at the beginning. Through those channels, the company does not need to establish a fixed relationship to local market during an entire year and the operations can still local. Moreover, those two channels of sale can help to establish a possibility for the company to gain sufficient structure and knowledge to search for other markets and sales channels to operate in the future.

Lina Dellic is only two years old and it is growing, in order to use what this thesis concludes, the author decided to support that such international expansion of the business model will occur in the short term. Therefore, as already described, the concept of the brand, the interest by those sales channels in the brand and the greater facility in a matter of cost and structure, this work will conclude what will be the best strategy for the internationalization of the Lina Dellic brand.


2.1. History and Current Situation of the Company

            The women’s fashion brand Lina Dellic was founded by Gabriela Bianchim Bereta, officially on September 14, 2014. The brand underwent several situations of growth and reformulation of it throughout its trajectory.

            The entrepreneur Gabriela is 26 years old, graduated in business administration from the Getulio Vargas Foundation, started her studies in the area following her main desire to become an entrepreneur, especially, she had in mind that she would build something that would have a positive impact on society or would transform the behavior, the way of thinking of consumers. During her graduation, she got involved in entity and courses related to social projects and entrepreneurship. Her education and experience during internship have been instrumental in understanding the Brazilian market and the economy. Working with organizations such as Banco Indusval & Partners, XP Investments and Iniciativa Agronegócios provided her with the much required knowledge and skills as an entrepreneur.

            In 2014, she established an online store that sold T-shirts that were limited editions and used an artistic processing concept. The venture was in line with her interests in fashion and the internet. The business got the name Lina Dellic, which had two potential meanings. Firstly, the name alludes to Lina Bo Bardi, who was the architect responsible for two points of reference and architectural inspiration in the city of São Paulo, where the brand was conceived: the Art Museum of São Paulo and the Sesc Pompeia. In addition, Lina refers generically to any woman, for its simple and basic characteristic to pronounce in the Portuguese language. Dellic refers to the delicate, bringing as a basis a strong adjective for the female. The business was launched on the online platform on December 2014. The products were seven different T-shirts, each representing an art, owning a name and a concept of its own. Examples are provided in Appendix 1.

            In December 2014, Lina Dellic’s eCommerce was launched, containing seven different T-shirts, each representing an art, owning a name and a concept of its own. Following there are two of these prints.

            Gabriela operated the processes at home, working alone and hiring freelancers for punctual activities such as photos, media arts development and issues related to website programming. After three months the business could not meet the demand. Subsequently, the founder sought to focus on developing a business that has positive and differential impact. Gabriela found that the slow fashion movement, fashion transparency in countries in Europe and the USA were appropriate considerations for the growth of the business. In March of 2015, the company decided to pull down the website and focus on building the brand with new site and partners. The main idea was to have an online platform focused on minimalism, slow fashion and fashion conscious, creating every forty-five days cupboard-capsules with limited parts.

            In this phase, it was understood that Brazilian industry, that is, ateliers and textile suppliers, was not prepared to receive small companies focused on producing in an almost artisanal way, with a smaller quantity of pieces produced and not following the regular schedule of fashion, which is based mainly on four annual collections. For this reason, the brand has encouraged and helped seamstresses and home modelers to participate in the production of the pieces. In addition, to create a more collaborative platform, creating even more flow and understanding of the concept, partners with brands from other segments, but who had the craft aspect in their business model were created.

            The brand’s new site was launched on November 3, 2015 (Appendix 2). It contained a collection of clothing with minimalist, timeless design and restricted color palette, made by a woman working at home, as it was said, and that was being supported by Lina Dellic. In the website, the brand was showing the faces of those women, telling their histories and playing videos. Moreover, in practice to help them, Lina Dellic would help them to buy new machines or equipment that they needed.

            In December, after a month of launching the new concept and ecommerce, the brand received proposals to be sold in stores in the state of Rio de Janeiro and Rio Grande do Sul. Such demand was met and new collections were made, however, in May 2015, it was realized through communications with customers and stores that the products were getting lower quality. This problem does not fit the concept of slow fashion and fashion with care and transparency, especially because the piece was not durable and had a very homey look.

            During this period, the brand had a co-working office in the Vila Madalena neighborhood, in São Paulo, with two assistants, one of production and one design, who took care of the media, website, partners. The stylist was a freelancer and drew 15 pieces each month, following the production and assisting in the purchase of fabric. Gabriela, the owner, took care about the management, financial aspects, production controlling and operational processes to attend the online store and partners.

            In this process two important problems were identified. The seamstresses who worked from home did not have the material they needed to create top-quality clothing; in addition, since textile manufacturers did not sell a small amount of fabric, the production team would go to small shops and used what was available, not what was ideal for the part, for a better finish, trim.

            In this sense, it was decided to pivot the production structure. Brazil was experiencing an economic crisis and Lina Dellic’s team could find small ateliers that would produce the pieces with less than they were accustomed to. In addition, after numerous contacts with textile manufacturers, some released fabrics as a pilot parameter, in this way, the brand was able to restructure again.

            In June 2016, the brand received a proposal to enter the wholesale through the sale in the showroom. In order to this event happen, the operation should be pivoted again. Production should grow, as well as space and staff. The owner Gabriela decided that it was time to get in this business model. The first collection was to be exhibited in the showroom in September 2016, in three months the business model was again adapted. It must be said that the brand hired a person responsible for the taking care closely the production and the partner workshops, so Lina Dellic did not lose its essence, it gained even more quality and engagement of the partners.

            Although the brand did not work with collections, for wholesale entry, it was decided to work with the conventional model of the market, to gain space and then propose the new model of fashion vision for the multibrands. This point is very important, because in Brazil the buyers of the stores often do not have the necessary education and the vision for a differentiated concept.

            During the months of September to November the brand sold R $ 200,000.00 through the wholesale. This result was representative and helped in the decision to continue with this sales channel. The first national fair was held in April 2017, in Belo Horizonte, Minas Gerais, called Minas Trend, and considered the largest fashion fair in the country. During the four days of fair, Lina Dellic sold of R$ 200,000.00. It currently has its pieces exhibited in his showroom at Vila Madalena in São Paulo, so far he has sold approximately R$ 250,000.

            The brand is currently in more than 30 physical points of sale, which were made through the showroom. In addition, owns own online platform  and sells in other four ecommerce platforms that have great representation in the country. In this light, it is evident that the brand has the potential to develop a customer base and compete appropriately with other companies. Internationalization of the company will be imperative in achieving a larger market share, increasing profits and strategizing on its sustainability as a global brand. The existence of an established ecommerce business is a critical factor that will promote the strategic approach of internationalization with little expenses.

2.2. Target Consumer

            Lina Dellic is a women’s brand focusing on women between the ages of 18 and 35. People belonging to social class A and B. Since the average price is above the values frequented by brands that serve the public B and C in Brazil; the precification and data will be shown further.

            But, it should be emphasized that the concept of creating durable, quality, timeless and that respect and encourage their partners in their production chain leads to a higher cost, so the price of the final product fits in that context. Also, the production chain will be detailed in its topic.

            The brand seeks to inform and create a universe that the woman who wears Lina Dellic identify. They are people who have access, knowledge and interest about art, culture, music, travel, trends and, above all, fashion.

            For the girl Lina Dellic, wearing a piece of the mark is more than a simple act of being dressed well. She understands and cares about the whole concept that the brand seeks to create, achieving a value-added superior to what it sees and buys other fashion brands.

            Currently, the brand has a public and a greater recognition in the state of São Paulo. This is due to the fact of the location of the company, but also because it is the cultural and financial center of the country.

            The following are information from the brand Instagram profile that state that such information is real.

Figure 1 Report on gender and age range found in the brand Instagram

Report on gender and age range found in the brand Instagram

Figure 2 Report on relevant locations found in the brand Instagram

           It should be noted that due to the concept of the brand and what this tag, reaches consumers who are concerned about transparency, are demanding and critical. They are clients who are always questioning and are attentive to all the details. They have craving and need for information about the brand, its process and people. Therefore, Lina Dellic to align this need of the audience that reaches, synchronize your universe and concept even more and bring content to your audience has a blog (Appendix 3). In addition, through the website of the brand is possible to schedule visits to the office, meet the staff and workshops. These aspects of the firm will be critical in building a reputation in the new markets and making partners and other actors confident about their association with the company.

            2.2. Target Consumer – Wholesale

              As already mentioned, the brand carries out wholesale sales, which take place through the Espaço Teaser Showroom, located in the region of Vila Madalena in the city of São Paulo. Through this segment, Lina Dellic has covered boutiques of great representativeness in their cities, who’s that have the largest number of sales, mix of brands and physical structure. This data has no objective source, since they are small or medium business, by families or one single entrepreneur. Moreover, in this segment, Lina Dellic has serviced multi-brand stores from all states of the country.

              The showroom in which the brand is sold functions as an external partner. It is paid a monthly fee and a commission on sales. The showroom currently has four other brands, the partners are Anie Varger and Junior Malagodi, they have more than ten years of experience in the branch and knowledge of the most important and great boutiques in the country, as well as their owners. For this reason, the fact reported here about stores that buy Lina Dellic is based on the showroom historic and knowledge.

              It should be said that for the wholesale, the approach of selling is different, the brand has been present in this segment for only a year, presenting until today its second collection. Multi-brand store buyers are not end customers, they have established budgets to spend on brands they already know and budgets to invest in new brands that want to bet. But, the purchase is based on two main pillars: the quality of the pieces and how the brand is working its disclosure and press. This information is taken in daily conversation with the commercial responsible for the showroom Space Teaser, Anie Varger.

              For this, the brand had to create a marketing strategy and differentiated sales discourse, which presented great effectiveness. In addition the buyers understand that the brand has a young design, but the brand received feedback that the products were sold to final customers in the age range above 35 years.

              The concept of Lina Dellic in the wholesale channel is recognized by the end customer who buys in the boutiques only after getting in touch with the product or with the universe of media and brand site understand the brand concept.

2.3. Sales Channel

            Lina Dellic makes its sales through wholesale and retail segments. About retail, the brand owns ecommerce and sells on partner sites such as Dafiti, Style Market, Distinct and Gallerist. Through partnerships, the brand does not charge wholesale prices for its products, and rather, the parts are left in consignment with the digital partners, who produce their own materials and carry out the sales process, at the end of which they retain a margin established and negotiated with each one of them. On average, this margin is 30% of the final retail price.

       The wholesale segment is served through a partnership with the Espaco Teaser showroom. As already described in section 2.2, the showroom has four other brands and its owners have a large and long relationship with boutiques from all over the country. The other brands that are being sold there do not have the same style or sell a similar product. There is a fashion party brand, a beach fashion brand, a denim brand and a casual fashion that works only with prints and vibrant colors.

       About the relationship and partnership with the showroom, the most important point concerns the form of partnership established. A monthly fee and commission on sales is paid. It is included in this cost the presence of the commercials at fairs, whether national or international. Moreover, it is in contract, that when making the partner with them the brand cannot opt ​​for other commercial means. For this reason, when studying and analyzing the strategy of fairs, it will not be included the hiring of another professional to carry out the sales. But, the cost of transportation, lodging and food, should be allocated by the brand if it decides to be present in an international fair.

2.3. Industry Description

            This thesis is focused on trying to analyze the best strategy for the company Lina Dellic to become international. The two alternatives that will be further analyzed involve the wholesale segment. Since the retail fashion industry is diverse from the wholesale, in this section the industry analyses will be carried on just for the wholesale.

            The fashion industry represents the seventh-largest economy in the world and it is one of the most successful industry in the past decade, it has grown 5.5 percent annually, representing almost $2.4trillion (Mckinsey). But, consumers are becoming more demanding, discerning and less predictable in their purchase behavior, helping with the development of new technologies (Mckinsey). The environment can be described as fragmented and complex.

            For a more complete analysis of the industry, we used the Porter’s 5 Forces framework to analyze the industry: supplier power, buyer power, competitive rivalry, threat of new entries and threat of substitution. Also, the Key Success Factors theory is used to offer more insights on the European market. The application of this theory will be instrumental in overcoming the weaknesses of the Porter’s Five Force theory (the Porter’s Five Forces).

  • Buyer power: it is an essential force because it determines the capacity of the buyer to push down prices or not buy the product or change retailers. Notably, in the fashion industry, the buyer power is considerably large. Nevertheless, individual buyers have little or no bargaining power compared to the huge enterprises that have the capacity to buy in bulk. Subsequently, retain consumers in Paris and Milan have alternatives where they can purchase apparels when offered little incentives. Resultantly, wholesalers such as boutique owners have the opportunity to bargain with producers and stick with one particular firm due to the bargaining power.
  • Supplier power: the fashion industry is characterized by a relatively small supplier power due to the high competition. Notably, most apparel firms in the target markets source products from the third world manufacturers who seek the highest bidders. Subsequently, the suppliers have little control over the industry. Such aspects make them dispensable as the producers of law material can seek better buyers. In this light, Lina Dellic coming from Brazil there is a need for good and reliable suppliers to develop the brand abroad.
  • Competitive rivalry: there are large numbers of wholesale selling very similar products, but there’s also the concept of brands, which allow companies to sell different designs and rates. It is becoming very difficult to innovate in the fashion industry, so it is also becoming very saturated (Dezeen). In this sense, it is difficult to penetrate the European market that has many retailers selling similar products that increase the competitiveness of prices. Additionally, there is little innovativeness in the industry that leads to saturation of the market with similar products offering alternatives to the consumers.
  • Threat of new entries: The opportunities for new entry by other companies is relatively small in the fashion industry in Europe. Nevertheless, new entries might find unique ways to popularize their products, building concepts, storytelling, through Social Media and branding investments. It is not difficult to copy what other brands are doing, but the market must want it.
  •  Threat of substitution: it is a society code to be dressed, so it is a human necessity. Moreover, in the fashion industry the substitution is relevant because there are many brands and types of pieces, so consumers mix and match brands very frequently.

Key success factors

  • Government support. The proliferation of the fashion industry in Europe is largely attributed to the government support. Pro-active laws have facilitated the development of the industry by facilitating trade between the European Union nations and the provision of legal structures that tend to offer more value for the consumers. Additionally, the creation of competition in the industry facilitates the emergence of innovations that are essential for the fashion industry. The continued support such as the financial aid offered by the government of Italy during the economic crisis makes Europe a strategic market for internationalization.
  • Customer awareness. The growth and development of the fashion industry are highly reliant on consumer awareness. In this context, consumers have access to regular updates on innovative products in the market. The international fares and showrooms in Paris and Milan that have wide media coverage offer an appropriate opportunity for creating awareness. Additionally, the Paris and Milan Fashion Weeks are key because they are attended by high profile celebrities who can engage with the company. Also, the awards and accreditations offered to at such events are essential in creating awareness of the products and developing the consumer interest in the products.
  • Ability to engage in continuous innovations. The competition presented by the target market encourages and motivates firms to be innovative. Subsequently, the most innovative organizations have the opportunity to gain competitive advantage and establish a customer base in the region. The fashion events offer an opportunity for players in the industry to showcase their products to large audiences across the globe. The technological capacity in these markets can be employed to promote the production process and increase efficiency in the market.        

            The five forces analysis shows that the fashion industry seems difficult to penetrate especially in the European market. Nevertheless, the key success factors show that the Paris and Milan markets offer an appropriate opportunity due to the pre-existing conditions offered by the industry. Notably, innovation is the fundamental aspect of creating a customer base and remaining competitive. Additionally, large buyers are the most appropriate consumers in the region due to the high competition experienced in the retail market,


3.1. Clothes

            The brand specializes in the production of women’s clothes that are unique and fashionable. The products have a restricted color palette to match its concept of being timeless, durable and flexible in the client’s wardrobe. However, through the collections launched, one or two new colors can enter to create an experience of curiosity and bring a more personality of the consumer, who is attracted by prints and vibrant colors. The innovativeness presented in the products will be a key feature in gaining competitiveness in the target markets. The major designs of these products include white, off-white, raw, nude, rose, gray and black. These products are appropriately designed to stand out and attract consumers of all ages. The minimalist stylist is present in the pieces, through the color palette, but also through the design. The geometrical, lightweight and unpretentious as evident in images in Appendix 1.

3.1.2. Productive Chain & Team

            The company has eight employees internally. They are: the executive director and businesswoman, a stylist, a quality analyst, a production assistant, a financial analyst, an administrative assistant, a sales analyst, and a branding and media analyst.

            Monthly the company has partners that offer services, they are: photography, press services, showroom (commercial for wholesale sales). Regarding the production of the pieces, the whole process takes place externally to the physical office of the brand. At present, the brand works with four ateliers that are accompanied directly by our quality analyst, who, besides taking care of the quality of the parts and the progress of the production, also maintains an appropriate relationship, of engagement that allows the concept of the brand to be carried out.

            It is important to say that the ateliers were previously analyzed so that they could establish partnership with the brand. For they should allow the access of the Lina Dellic team and a closer relationship than those maintained with other brands, allowing greater transparency about the production process and contact with the workers who are linked to them.

            At this point, the quality analyst is able to attend with the necessary efficiency the four ateliers, but it is important to report that it will be necessary to hire another person to do the same work if new ateliers are added as a partner, either by the expansion of the company internationally or Increased demand at the national level.

            The production process starts with the stylist and style and production assistant, meeting with suppliers of fabrics and supplies. At the same time, the stylist performs reference style research. With this material and built a board, separating by category of product (tailoring, knitting, party, flat fabric), since each atelier can do a better job in one of these categories.

            After this phase, you begin to draw the technical sheets of the products, with the drawing, sample and the name of the fabric and attachments that will go in the part, reference of sewing image, as well as detailed written if the stylist finds it necessary for a better understanding of the name of the partner who had modeled and produced the piece. In the last and first two collections held wholesale by the company, 130 SKUs were made.

            Initially, it is bought reduced quantities of raw material, only to carry out the pilotage of the piece. Upon receipt, the technical sheet is released along with the fabric and supplies to the appropriate supplier. Each one is asked to finish between 5 and 10 pieces a week, when a model with standard shape comes to the office and together with the quality analyst, stylist and style assistant, adjustments is made. Then, if it is needed, a new pilot of the piece is asked to be made or the part is approved for production.

            Initially, five pieces for showcase are made. In this way, the brand is able to expose its parts in the showroom, send the pieces to the press office, carry out marketing, photography and save for its own collection. In the process of internationalization, this number will have to increase.

            Once the pieces are ready, they remain in the showroom for two months and can also go to national fairs, as happened in April 2017. As orders are being made through the wholesale or fairs, Lina Dellic’s team starts buying raw materials for production and putting production order with the suppliers.

            In addition, for the retail segment the quantity to be made is an estimate of what was sold at wholesale. Usually, the company makes a ranking of each sold piece, analyze the quantity, minimum and maximum quantity for production of the supplier and the costs to reach a possible demand volume for this sales channel. Here it should be noted that some models that have been made to be exhibited in the showroom or fairs may not reach the retail market, since they have not received enough orders to be produced.


3.1.3. Price

            The company invests in professionals that are responsible for the analysis and control of quality and relationship with workshops, as described in section 3.1.2. In addition, to create an engagement and to be transparent, the brand works with ateliers that have quality seals that prove to meet all the requirements of a suitable work environment and which are controlled by the responsible agencies in Brazil, to keep it the cost of them is also high.

            The salaries of all workers responsible in the production process within the studios were also a factor considered when choosing the ateliers, affirming the concept of the brand. With regard to raw material, the brand seeks to work with the best fabrics and suppliers of the supplies, so that the quality and durability of the parts is high and perceptible to the customer. In that sense, the final cost of the pieces is high.

            For the wholesale, the brand practices a mark up of x0.8. The brands that are present in the showroom that Lina Dellic is, removing the fashionable party brand and beachwear, practice a higher markup, an average of 1.5. Such information is withdrawn through the constant relationship between brands within the space of the showroom. The average ticket of the Lina Dellic brand for the wholesale is R$ 400.00.

            The markup for the retail segment is 2,3, which is multiplied by the wholesale price. This fact is due to the attempt of price planning in the points of sale of the brand, since after the purchase in the showroom the boutiques, in average, realize this prices. This information is withdrawal of the commercials and the owners of the showroom. The average ticket of Lina Dellic clothes in the retail is $ 900.00, considered as a premium price in Brazil.

Works Cited

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Antràs, Pol and Stephen R. Yeaple. “Multinational Firms and the Structure of International Trade.” Handbook of International Economics 4 (2015): 55-130.

Bhardwaj, V, Eickman, M, & Runyan, R. (2011). A case study on the internationalization process of a ‘born-global’ fashion retailer. The International Review of Retail, Distribution and Consumer Research, 21(3), 293–307.

Buckle, Peter and Mark Casson. “Analyzing Foreign Market Entry Strategies:Extending the Internalization Approach.” JOURNAL OF INTERNATIONALBUSINESS STUDIES 29.3 (1998): 539-562.

Casson, Mark, Lynda Porter and Nigel Wadeson. “Internalization theory: An unfinished agenda.” International Business Review 25.6 (2016): 1223-1234.

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Grail Research. “The Global Fashion Industry – Growth in Emerging Markets.” 2009.

Martinez, M. R. E. A globalização da indústria aeronáutica: o caso da Embraer. Brasilia, 2007. Tese (Doutorado em Relacoes Internacionais) – Instituto de Relacoes Internacionais da Universidade de Brasilia.Matic, Mirela and Vita Vabale . “Understanding internationalization patterns of Zara.” 2015.

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Appendix 1

Picture 01 – Lina Dellic’s t-shirt print called “O que te prende”

Picture 02 – Lina Dellic’s t-shirt print called “Olho Dominante”

Appendix 2  EMBED StaticMetafile 

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