February 11, 2019 |
Brazil's Arezzo does not plan to sell bonds or refinance existing debt, preferring to dip into a $100m cash trove to support its expansion plans.
"We don't want to be leveraged, and our fashion business generates a lot of cash," said Aline Ferreira, the investor relations director at Arezzo.
"We are working to reduce our net cash position to zero at a moment when interest rates are coming down," she said.
Most of Arezzo's stores are franchises that require little or no investments from the pa
Brazilian footwear company has $100m in cash to pay for its expansion plans