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Havaianas parent company doubles its size in 2021 and reports revenue growth of 63%

Tom Shearsmith
04 August 2021

Alpargatas, owners of Havaianas, has announced its results for the second quarter of 2021, with revenues rising by 63% to £70.57 million compared with the equivalent period in 2020 on a constant currency basis.

The big highlight for the footwear brand was Europe, where volume increased 38%, and revenue in constant currency grew 41%, impacted by the implementation of RGM (Revenue Growth Management).

In addition, as a result of the restructuring of DTC stores and creating an online sales focus through DTC and B2B, Havaianas US delivered volume (+52%) and EBITDA (+600%) growth compared to 2020, contributing to the expansion of margins at Havaianas International.

Digitisation is one of the company's strategic pillars, with online sales in the second quarter reaching £30.1 million, representing 20% of total sales and 38% of international sales.

President of Alpargatas, Beto Funari, said: "We continue to see strong global demand for the brand, which in line with casual fashion trends, has been prioritising comfort and the migration of users in search of digital experiences. These trends have strengthened Havaianas globally."

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