Why 2025 Could Be Argentina’s Biggest Creative Year Yet, Actresses Making History and LatAm’s Retail Media Boom

Happy 2025!Welcome back, and thank you for reading GEN33, a newsletter dedicated to the business and culture of Latin America’s creative industries.

This month I’m taking some time to refine GEN33’s structure and establish a consistent publishing schedule. My goal is to make this newsletter as insightful and engaging as possible 😊.

Before getting to this week’s topics I’m excited to share that I’ve been invited to Bernard Garby’s Fashion News show. (Garby’s channel has amassed 411.9K followers, making him a Top 5 Fashion TikTok creator, UK Top 4, and Global Top 33). I’ll be discussing the Proenza Schouler founders stepping down from their brand, the speculation about them moving to Loewe, and all the musical chair rumours surrounding this. Catch it Sunday on Garby’s TikTok.

The other news is that I have a couple of articles coming out soon, and one of them is a print cover story (shhh, it’s a big celeb!). I’m so excited about this and can’t wait to share more, so keep an eye on my socials

Ok let’s dive in!

In this edition:

🇦🇷 Why Argentina is a creative force to watch this year.🏆 What the Fernanda Torres and Emilia Pérez wins mean for the industry.📈 A Peak inside Latin America’s $2.64 billion retail media pie.

And much more…

Why 2025 Might Be Argentina’s Biggest Creative Year Yet

After 16 years, Argentina has pulled off what once seemed impossible: a financial surplus. Milei's government slashed spending by 29% year-on-year in real terms (a feat last recorded in 2008), and the surplus now is between 0.2% and 0.3% of GDP, according to Paolo Manzo.

For those who haven’t been keeping tabs: Argentina has spent decades in a near-permanent cycle of crisis and inflation. But lately, there are signs—both in spreadsheets and on Spotify—that the country is mounting a slow, steady recovery.

It's fascinating that even in the depths of economic turmoil, Argentina's response has been to create. Over the past two years, music hailing from the country has been breaking into the global scene in a way not seen in decades.

What does all this mean for the creative industries? It’s something I’m looking to explore further. This is why I’m keen on speaking with my favourite trend expert, Buenos Aires-based Gaba Najmanovich. Her newsletter Exprimido de Tendencias offers a wealth of insights into consumer trends and culture.( It’s thanks to her that I discovered CA7RIEL & Paco, photographer Dagurke and the and Brazilian artist Randolpho Lamonier).

In the meantime, I can tell you that Argentina's creative forces to watch include fashion, naturally. Argentinians love shopping and are famously stylish people. It’s no surprise Dazed recently spotlighted Buenos Aires’s Neomarik, a queer rave where DIY couture and pop star tributes set the tone for the new year.

How fashion will be affected becomes especially interesting now that, according to Fashion Network, Milei's government is advancing plans to implement a system allowing local businesses to accept dollar payments. Also, in 2024, vacant commercial spaces in Argentina decreased, with La Plata experiencing as much as an 80% reduction in vacancy.

What’s more, Argentina has long hosted Buenos Aires Fashion Week, a beloved event. While not as upscale as the main four or their São Paulo or Mexico counterparts, it has long been a platform to showcase iconic brands, some of which are quite popular across the continent, like Kosiuko, Rapsodia and Jazmín Chebar, among many others. (In 2023, the outlook was much bleaker, as I reported for BoF).

And then, there’s Mercado Libre, LATAM’s undisputable leader. The $90-billion e-commerce powerhouse is pulling out all the stops to battle China-founded ultra-fast fashion incomers like Shein and Temu.  I wrote all about it for The Business of Fashion. If you’d like to read that deep dive, just reply to this email or message me.

Fernanda Torres and Zoe Saldaña Make History at the 2025 Golden Globes

Unless you’ve been completely off the grid, actresses from Latin America made headlines at the latest Golden Globes. I’ve been writing about I’m Still Here and Emilia Pérez for a while, noting their Oscar potential. So I was pleasantly surprised when Fernanda Torres became the first Brazilian actress to win a Golden Globe. She won Best Performance by a Female Actor in a Motion Picture for Walter Selles’ I’m Still Here – beating heavyweights Angelina Jolie (Maria), Kate Winslet (Lee), Nicole Kidman (Babygirl), and Tilda Swinton (The Room Next Door). That’s a pretty big deal.

Torres’ win comes 25 years after her mother, Fernanda Montenegro, became the first Brazilian actress to be nominated for a Golden Globe in the same category for Central Station in 1999.

Then, there's Emilia Pérez. A musical film, by French Director Jacques Audiard, about a Mexican drug dealer who undergoes gender-affirming surgery to begin a new life as a woman It led the nominations with 10 nods and won the most among all the films, with four statues, including Best Foreign-Language Film and Best Supporting Actress in a Musical or Comedy for Zoe Saldaña, who is American and of Dominican and Puerto Rican descent.

I’ve said before that my main criticism of Emilia Pérez was the various ambiguous accents that felt inauthentic. Still, Emilia Pérez rose above criticisms, and Saldaña’s award was well deserved. Karla Sofía Gascón was notably disappointed not to win, but she was just as worthy of recognition.

It seems the Golden Globes have regained some of their lustre after two scandal-ridden years due to their former elitist composition among other issues. Now, with revamped rules to broaden their selection base and aim for greater diversity both in their results and in their annual reports, the awards seem refreshed. This year’s hosting was also redeemed by Nikki Glaser’s quick wit and sharp, genuinely funny material.

Somehow these wins for Emilia Pérez and I’m Still Here don’t feel like mere box-ticking diversity gestures but a real acknowledgment of the undeniable talent that exists beyond the traditional names of Hollywood.

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Latin America’s Retail Media Boom

If you’re keeping an eye on e-commerce trends, the eMarketer 2025 Trends Report for Latin America is one of your essentials. Expert Matteo Ceurvels highlights the explosive growth of the region’s retail media ecosystem. I highly recommend following Matteo, he offers so many invaluable insights on the topic and is always posting updates.

Ceurvels recently reported that over 80 players are vying for a piece of Latin America's $2.64 billion retail media market, which means competition among smaller and mid-sized networks is heating up. He also pointed out that this year promises to be transformative for the region, as political and economic shifts create new opportunities across sectors. Retail media and AI will drive growth and innovation, while new tariffs and regulations will reshape cross-border dynamics for both global and local players.

Here are some of his key takeaways:

1. Mercado Libre will lead the retail media charge as smaller players struggle to scale.

2. Policy shifts will have ripple effects on cross-border e-commerce across Latin America.

3. Social media platforms will face growing pressure to protect minors.

4. AI will supercharge efficiency, personalization, and sales growth.

These are just a few of the trends shaping Latin America’s digital economy in 2025. How retail media, policy shifts, and AI innovation will continue to advance the region is something to watch closely. (eMarketer by Matteo Ceurvels).

News Roundup

Gearing up for 2025’s Colombiatex. From 28 to 30 January 2025, Plaza Mayor in Medellín will host Colombiatex, one of Latin America's leading fashion showcases. This edition features 36 Brazilian companies under the Texbrasil programme, highlighting Brazil's role as a major textile exporter and innovator in sustainable and cutting-edge technologies. (LatinPyme).

According to FashionNetwork, the fashion market surpassed $34 billion in 2024, growing 5.2%, contributing 2% of Colombia's GDP and over 10% of its industrial GDP. Despite global economic challenges, Colombiatex will connect over 27,000 industry professionals with national and international buyers.

Tiffany’s Unveils a Two-Storey Flagship in São Paulo

Tiffany & Co. has opened its first flagship store at Iguatemi São Paulo, marking a new chapter in its 20-year presence at the location. The new space spans an impressive 408 square metres over two floors and features an interior design inspired by the House’s iconic Fifth Avenue flagship while also incorporating touches of Brazilian culture, including works by local artists João Carlos Galvão and Humberto Campana.

This is a good example of a global brand adapting to local culture and tastes to resonate more effectively with customers. Brazil’s economy has shown remarkable resilience during the disinflation process over the past two years. The country reported a 0.9% growth in the third quarter of 2024; not impressive, but enough to keep luxury brands, including Tiffany’s, optimistic about its prospects.

Natura, Brazil’s largest cosmetics company by revenue, has created a sonic logo to add a new layer to its identity. Working with Soundthinkers and Africa Creative, the team captured the electrical signals of Amazonian trees using electrodes to craft a unique sound. This video offers a glimpse into the process and its results. (Exprimido de Tendencias).

Bad Bunny Does it Again. This time he made history on Apple Music with 'BAILE INoLVIDABLE,' the first salsa track to hit #1 on the platform in the US. Featured on Debí Tirar Más Fotos, his latest album. The song, Benito’s personal favourite, blends congas, piano and trumpets to tell the story of a man haunted by memories of a lost love who taught him how to dance.

His voice lends itself well to salsa, and although I don’t listen to Bad Bunny much, I love that he’s giving visibility (or audibility, shall I say) to salsa(Los 40 Chile IG).

BTW… It seems the artist is going head-to-head with none other than Taylor Swift. Fans online have pointed out striking similarities between each artist's discography as the two compete for the top spot on the Billboard album chart. (Rolling Stone).

The Global Pantry. According to a recent WGSN report, pantries are evolving to reflect global eating trends, featuring flavours from across cuisines. For example, Mexican salsa macha, Chinese chili crisp, Japanese yuzu koshu mayo, Indonesian sambal, Mojo Rojo, pandan kaya curd and ube halaya all coexist in the same space.

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