Companies

Owner of Havaianas invests in Rothy’s

Dec 27, 2021 Brazil

The Brazilian company Alpargatas will acquire a stake of 49.9% of the Californian-based sustainable lifestyle brand in a two-step transaction

First, Alpargatas will acquire shares worth 200 million US dollars, followed by a tender offer to acquire stock estimated at 275 million US dollars from current Rothy’s shareholders. The deal will result in a post-investment valuation of 1 billion US dollars for the sustainable lifestyle brand, which will continue operating independently. According to the statement, “the partnership brings together two vertically-integrated leaders and innovators in the footwear industry with international manufacturing capacity and shared commitment to social and environmental responsibility”.

The acquisition will enable Alpargatas to accelerate its global expansion by strengthening its strategy of becoming a powerhouse of desired and hyperconnected brands. Rothy’s, whose alignment meets the four strategic pillars of the Brazilian company – global, innovation, digital and sustainability – will, in turn, speed up its customer acquisition’s strategy. The goal is to increase the brand’s recognition across the US and in international markets, such as Asia, Europe and Brazil.

Founded in 2012 by Roth Martin and Stephen Hawthornthwaite, Rothy’s set out to create a shoe with a distinctive but comfortable style, which fought the staggering amount of waste inherent to the footwear industry. Over this period, the brand has transformed more than 100 million single-use plastic water bottles into machine-washable shoes. It has also expanded its products categories into handbags and accessories.

To find out more about Rothy's please refer to their website clicking here.

Image Credits: vox.com

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