Bittencourt jumped into the water to try and save her two dogs which had been swept off the sailboat during rough seas, according to the Brazilian news outlet Globo.
Her husband, Jorge Sestini, saw her beginning to struggle and jumped in to try and save her, but couldn't reach her in time, Globo reported. Sestini was later rescued.
Bittencourt’s body was found a day later on Monday near Cigarras Beach in São Paulo.
Her 17-year-old daughter, Isabelle, confirmed her mother’s death.
"We are grateful for the support and affectionate messages we have received from Carol's friends and fans," she said in a post on social media. "This energy drive fills our hearts with so much love."
Bittecourt's agent said Sestini remained in a "state of shock," Globo reported.
“Jorge tried to save her. He saw Carol drowning and wasn’t able to save her. It was a terrible moment for him,” Andrea Boneti said.
Bittencourt has worked for designers Valentino Garavani and Roberto Cavalli and as a TV reporter in Brazil, the news site reported.
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