Renzo Costa Plans Regional Franchise Expansion as Founder Rules Out Sale

Renzo Costa's Path From a Borrowed Sewing Machine to Regional Franchise Plans

Marina Bustamante began working with leather at 17, using a sewing machine borrowed from her father and a small amount of money for raw material. More than five decades later, the company she built, Renzo Costa, operates 69 points of sale and is preparing its first regional franchise expansion. She recalled on Gestión's program that her father once told her a woman was not born for business, but she continued building the company from wallets and leather goods for women.

Early growth came during Peru's military government, when import restrictions reduced foreign competition. A businesswoman from Trujillo helped finance four additional machines, allowing Bustamante to expand production. Over time, the product's place in the market shifted: items once seen as purely functional wallets and coin holders are now treated as fashion and status accessories.

For international expansion, Renzo Costa is evaluating a franchise model within the region rather than opening stores directly in each market. The company already has franchises in Milan and Naples, and Bustamante said the regional strategy would depend on working with established local companies that understand their markets and may be even stronger than the Peruvian brand.

Bustamante also said she rejected two offers to sell Renzo Costa, one from a foreign group and one from a Peruvian company. She keeps a majority on the board and said she does not want to sell the company while she is alive. The company recently invested about S/9 million in its distribution centre.

What Marina Bustamante's Partner-First Strategy Means for Renzo Costa

Marina Bustamante Is Staying in Control

The interview confirms that Renzo Costa's founder does not view the company as an asset to be sold. She said she rejected two acquisition approaches and described both as tempting but ultimately not aligned with her goal of continuing to build the brand. That position preserves her authority over strategy, but it also means expansion must be funded through operating cash flow, distribution investments and partner contributions rather than a buyer's capital. The S/9 million distribution centre appears to be part of that self-funded preparation.

Why the Regional Push Is Partner-First, Not Store-First

Bustamante's stated reasoning is practical: entering each market directly would require building local knowledge from scratch. Instead, she wants established companies that know their markets and may hold stronger positions than Renzo Costa. That reduces the company's upfront capital needs and shifts part of the operational burden to partners, while allowing faster entry across several countries.

The approach also carries the usual franchise tension: the brand can expand quickly, but it must enforce product quality and positioning across independent operators. The existing franchises in Milan and Naples give Renzo Costa a small but real test bed for that discipline before a wider regional rollout.

How Spain, Italy and Vietnam Fit the International Plan

Renzo Costa already works with companies in Spain, Italy and Vietnam to manufacture some products. Bustamante suggested this network could become part of the internationalization strategy, meaning those relationships may evolve from production-only arrangements into fuller supply or partner roles.

Combined with the S/9 million distribution investment, the company appears to be building operational capacity before multiplying points of sale. That sequencing makes commercial sense, although Renzo Costa has not disclosed which regional markets will come first or on what timeline.

What the Franchise Push Requires From Partners, Suppliers and Rivals

• Prospective franchise operators in Latin America should present proposals around local market depth and an existing retail footprint. Bustamante specifically said Renzo Costa wants partners that know the market and may be stronger than the brand, not passive investors.
• Suppliers in Spain, Italy and Vietnam should expect the existing production relationships to become a formal part of the expansion plan. Current manufacturing links could convert into regional supply arrangements as franchise locations are added.
• Competing leather-goods retailers should read the S/9 million distribution centre as a signal that Renzo Costa is building logistics capacity before expanding its sales network. A regional entry may come with faster replenishment than a typical newcomer.
• Because Bustamante said she will not sell while she is alive and has already rejected two offers, any merger-and-acquisition approach to Renzo Costa is likely to fail. Expansion capital will have to come from partners or internal cash flow rather than a buyer.