The number of foreign buyers reached a record of more 2,000 at the Couromoda fair in São Paulo this past Jan. 10-14, highlighting a growing interest in Brazilian shoes, especially after the devaluation of the Brazilian real. The total number of visitors at the show fell by around 5 percent. With the help of Apex Brasil, the Brazilian export promotion agency, Couromoda invited a total of 130 foreign buyers, mostly from other Latin American countries. This coincided with the first signs of a turnaround in Brazil's export flow, which we shall comment on in a later article.