Havaianas owner reports record revenues in Q3

Brazilian footwear brand Havaianas has reported record revenues for the second quarter in a row, according to its parent company Alpargatas.

The company said its net revenue for the nine months to 30 September 2021 reached R$1.062 billion (£137m), up 12.7% compared with the same period last year.

In the third quarter, EBIDTA increased a further four percentage points to R$201m (£25.9m), reflecting a 200% growth on the results for the first nine months of 2020.

Havaianas International also surpassed a milestone of 25 million pairs sold during the first nine months of the year, up 46% compared to the same period in 2020.

Beto Funari, CEO of Alpargatas, said: "The results express the strength of the Havaianas brand with growth in the international and Brazilian markets. In 2022, we will invest R$600 million in capacity expansions to meet the demand for the Havaianas brand in the coming years."