Every Sunday in Ipanema, there is a certain local market that lures even Cariocas away from the beach: Feira Hippie or Hippie’s Fair. An arts-and-crafts mainstay since 1968, Feira Hippie can be found in a big town square called Praça General Osório. It gained further recognition after a visit from fashion designer Giorgio Armani, who picked up a pair of handmade leather sandals from Eron, a well-known craftsman who is now retired.

The original market started off as a smaller venue showcasing local art, paintings and sculptures, but it has since blossomed into a maze of vendors offering every ...