ALPARGATAS-Brazil bought 49.9% of the ROTHY´S brand from USA
In an operation considered to be a visionary strategy for the times to come in terms of sustainability in the footwear industry, the Brazilian company entered a consumer segment with optimal growth projections for the next few years.
The agreement between ALPARGATAS and ROTHY´S will generate a post-investment valuation of US $ 1 billion for the sustainable lifestyle brand, which will continue to operate independently.
The joint statement notes that "the association brings together two vertically integrated leaders and innovators in the footwear industry with international manufacturing capabilities and a shared commitment to social and environmental responsibility".
Through the acquisition, ALPARGATAS will increase its global expansion, strengthening its strategy to become a brand powerhouse, while for ROTHY'S it will mean the incorporation of new clients. The purpose is to increase brand recognition in the United States, and in international markets, such as Asia, Europe, and Brazil.
ROTHY´S is a comprehensive brand for sustainability in manufacturing, transforming recycled materials into shoes, bags, handbags and accessories. It has a vertically integrated supply chain, minimizing waste by weaving each product in its own factory in Dongguan, China. Since its launch in 2016, ROTHY'S has transformed more than 100 million plastic bottles, and has kept 275 thousand pounds of marine plastic out of the waterways.
With more than two million customers, ROTHY´S products are sold online, or through 8 retail stores, located in San Francisco, Washington, Chicago, Los Angeles, New York and Boston.
The brand has been recognized by the main US and international media for its high degree of innovation and its commitment to the environment.
The products are made of woven materials from recycled materials, to which very up-to-date designs are added.
ALPARGATAS currently in the hands of a Brazilian holding company, has more than 114 years of history, 6 industrial plants in Brazil and more than 17 thousand employees around the world. Its flagship product is the well-known HAVAIANAS flip flops, whose annual production reaches 260 million pairs and are sold in 130 countries.
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