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Havaianas owner Alpargatas posts Q2 revenues increase of 71 percent

By Prachi Singh

Aug 2, 2021

Report

Image: Havaianas, Facebook

Alpargatas, the company that owns the Havaianas brand, announced a 71 percent increase in its second quarter revenues to 1,095 million Brazilian real, with growth in all operations. The company said in a statement that at Havaianas Internacional, revenue grew in all international markets. Net revenue in constant currency was 516 million Brazilian real (100.14 million dollars), up 63 percent against the second quarter of 2020.

The company added that the growth was driven by advances in international markets, acceleration in online channels, and portfolio expansion with product innovations.

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

Highlights of Alpargatas Q2 results

In Europe, volume increased 38 percent and revenue in constant currency grew 41 percent, impacted by the implementation of revenue growth management. In addition, as a result of the restructuring of DTC stores and online sales focus, Havaianas US delivered a volume increase of 52 percent and EBITDA growth of 600 percent compared to the second quarter of 2020.

The company’s online sales reached 220 million Brazilian real (42.7 million dollars) in revenue in the second quarter, three times higher than the number reported in the second quarter of 2019, representing 20 percent of total sales and 38 percent of international sales.

Corporate EBITDA was 222 million Brazilian real, an increase of 56 percent, while Havaianas International’s EBITDA margin reached 30 percent, a 9pp expansion compared to 2Q20.

The company further said that the operational result is reflected in an improvement of the net financial position of 176 million Brazilian real (34.15 million dollars) in the first semester, closing the quarter with a financial position of 637 million Brazilian real (123.62 million dollars).

Read more about Havaianas on the brandpage: fashionunited.com/companies/havaianas