Arezzo & Co. CEO Alexandre Birman is prepared to handle a rough 2021.

“The first half of the year will be very challenging,” he said on the latest episode of the Glossy Podcast. “It's not going to be easy. And who is going to survive is not the strongest, but the most adaptable. So we have to be very prepared to adapt.”

The company managed just fine in 2020, emerging relatively unscathed though big changes were necessary. Those adjustments, including putting its 6,000 store employees to work as digital sales associates, set it up for a strong start to 2021. Though 80% of its stores are now closed due to pandemic-related restrictions -- they’re largely located in the company’s home base of Brazil, where the vaccine has been much less widely distributed -- it finished March with 70% of the revenue it earned in March of 2019.

“That's decent," said Birman. "It’s going to be a gradual rebound."

Brazil-based Arezzo & Co. owns six shoe brands and the distribution license for Vans in Brazil. In the fourth quarter of 2019, it expanded its focus to clothing by acquiring apparel group Reserva Group and 75% of online luxury resale platform Troc.

Birman discussed the company’s investment strategy, as well as its future plans for physical retail and expansion in the states.