Marisa S.A. is the largest Brazilian department store chain specialized in women's clothing based on the number of stores in Brazil. The Company's business strategy and operations focus primarily on middle-lower income women between the ages of 20 and 35. The Company's target customers are members of the largest socioeconomic group in Brazil, according to the Brazilian Association of Population Studies (Associação Brasileira de Estudos Populacionais), or ABEP. Marisa designs and sells at competitive prices a wide variety of products that reflect current national and international fashion trends. Its products are sold primarily under the brand "Marisa"​ and are displayed in Marisa's stores according to "lifestyle"​ categories.During Marisa's more than 60 years in business, the Company has developed in-depth knowledge of the needs and tastes of its target customers. As a result, Marisa has developed a corporate image that reflects the affinity the Company believes it shares with Brazilian women. "Marisa"​ brand is recognized today throughout Brazil as young, modern and sexy. It is associated with the well-known slogan "By Women for Women"​ ("De Mulher para Mulher"​), a slogan that reflects Marisa's image as a company that understands and responds to the needs and desires of its target market. For example, according to surveys carried out by Interscience, Marisa is the first choice of middle-lower income Brazilian women who want to be fashionable and to acquire quality lingerie at competitive prices.