Vivara Participacoes Sa (BVMF: VIVA3): Vertical Integration as a Moat

Brazil-based and vertically integrated Vivara Participacoes Sa (BVMF: VIVA3) silver Latin America’s largest jewelry retail chain. They are unique among jewelry retail chains in that they control sourcing, design, and production.

memo: For a good discussion and additional links about “moats” see: Moat – a brief introduction

- Overview
- Key Ratios (P…

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