Flávio Rocha is chairman of the board of directors of Grupo Guararapes, which includes Lojas Riachuelo, Midway Financial, Midway Shopping Center and Transportadora Casa Verde. One of Brazil’s largest fashion retailers, the group had 397 stores in the country in the first quarter of 2023, most under the Riachuelo brand. The company also operates Carter’s brand stores in Brazil, aimed at babies and children, and FANLAB, for the geek public. In 2022, the group posted consolidated net revenues of R$8.45 billion, or US$1.737 billion (+17.1%) and net income of R$51.9 million, or US$10.6 million (-88.5%). Some of the challenges have been coping with rising costs, higher credit costs and competition from foreign brands that sell online, such as China’s Shein. Flávio Rocha holds a degree in Business Administration from Fundação Getúlio Vargas (FGV-SP), with a postgraduate degree from Harvard Business School. He founded and chaired the Retail Development Institute (IDV), where he is currently a board member. Rocha was also a federal deputy and member of the National Constituent Assembly.
