Havaianas reports best Q1 results ever

Havaianas has seen its highest net revenues for a first quarter yet, as reported by parent company Alpargatas in its latest financial results.

"These earnings make us confident about the strength of the Havaianas brand and our focus on operational excellence, revenue growth and EBITDA protection, despite the challenging macroeconomic scenario in 2022,” said Beto Funari, CEO.

Q1 Results for Alpargatas:

• Net Revenues of £150 million, a 9% increase vs. 1Q21
• Gross profits of £72 million, a decrease of 0.1%

Q1 Results for Havaianas:

• Total revenue of £148 million, a 11% increase in constant currency
• International revenues of £56 million, up 17% in constant currency
• In the EMEA region Havaianas net revenues increased by 25%
• Total gross profit for Havaianas increased by 2.1% to £70 million in constant currency

In the EMEA region Alpargatas highlighted the success of the Havaianas and Vibram collaboration, which saw products sell out in 24 hours online. As the business explained, the partnership's main strategy is to expand Havaianas into streetwear.