The Brazilian shoe manufacturer Alpargatas SA announced a major investment in the US lifestyle brand Rothy’s Inc. on Monday. The parent company of the sandal label Havaianas said that it wanted to gradually expand its stake in the Californian shoe and accessories provider to 49.9 percent through a series of share purchases. According to the group, the first transaction has already been completed; the targeted target is to be achieved in the first half of the coming year, among other things by means of a takeover offer to existing shareholders of Rothy’s. Alpargatas put the total expenditure for the planned share purchases at around 475 million US dollars (421 million euros).
The participation in Rothy’s is an “important step” to further strengthen the international presence of the group, announced Alpargatas. The US company will continue to operate independently, but the new major shareholder is planning to take on a “strategic role” in the label’s growth process. It is about expanding the customer base and expanding the brand in the US and international markets, explained Alpargatas.
Rothy’s was founded in 2016 and, according to its own information, has already won over two million customers with its shoes, handbags and accessories made from recycled plastic. The San Francisco-based company has its own production facilities, eight stationary stores and an online shop.
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