Luma de Oliveira promoted the Clarity line of cosmetics, marketed through FLX Consultancy and Franchising.

She caught the attention of Brazilian Playboy in 1984 as the younger sister of television actress Isis de Oliveira, who was herself featured on the magazine's cover in 1983 and 1991.

In their annual reader poll of the world's 100 sexiest women, Oliveira appeared 6 times, between 1998 through 2003, and 2006, with her highest placement being eighth in 2001.

In 2007, she declined an invitation to star in a Brazilian version of Desperate Housewives because it would be filmed in Argentina, and require too much time away from her children.

Her acting career included five films: She refused to do a remake of the popular Nelson Rodrigues work, Lady on the Bus, originally starring Sônia Braga in 1978.

Oliveira met Brazilian businessman Eike Batista in 1990, and he invited her to accompany him to an offshore powerboat racing event in which he was competing.

"[6] Leal eventually married wealthy heir Antenor Mayrink Veiga, a prior boyfriend of Oliveira.

Her brother revealed that Batista convinced his wife to change her mind and he compensated Playboy for Oliveira's breach of contract.

She was photographed for Angels of Brazil, a calendar sponsored by Rio de Janeiro's Fire Department, and several men's magazines.

Batista agreed to pay $20,000 per month in child support and he purchased a home for his children next door to his own which Oliveira could occupy for two years.

Oliveira sued The Independent after the newspaper published a photograph of her to illustrate an article that exposed German politicians and Volkswagen employees consorting with prostitutes at Carnaval.