Rothy’s secures new investment from Havaianas Parent – Footwear News

Alpargatas SA, the Brazilian company behind Havaianas, has taken a 49.9% stake in the sustainable footwear brand Rothy’s.

In a two-stage transaction, Alpargatas will invest $ 200 million in principal capital, followed by an offer to acquire approximately $ 275 million of Rothy’s shares from current shareholders, resulting in a post-investment valuation of $ 1 billion.

According to a statement on the new investment, the transaction will fuel Rothy’s global growth and expand its vertically integrated operations.

Rothy’s co-founders Stephen Hawthornthwaite and Roth Martin will retain a significant stake in the business and continue to oversee operations.

Roberto Funari, CEO of Alpargatas, said in a statement: “We are delighted to welcome Rothy’s to our portfolio and to admire Rothy’s founders and entrepreneurial and passionate team. We value their digitally driven business and loyal customer base, and view this partnership as an important opportunity to advance our global strategy with increased relevance to the North American market. “

“This partnership with Alpargatas marks the start of our next chapter of growth and reaffirms the strength of our business model and our market momentum,” added Hawthornthwaite. “With the financial support, scale and expertise of Alpargatas, we look forward to expanding rapidly into global markets, strengthening our physical presence in retail, advancing product development and accelerate our goal of achieving circular production by 2023. ”

“Very few shoe brands understand the unique challenges and opportunities of owning a factory – and Alpargatas wrote the playbook,” Martin said. “We are confident that Alpargatas will be a valuable thinking partner for Rothy’s, and we look forward to working together to prove that it is possible to run a profitable large-scale business in a sustainable and responsible manner. “

Founded in 2012, Rothy’s co-founders Hawthornthwaite and Martin have made it their clear mission to create a shoe with style, comfort and sustainable design. Today, Rothy’s is a global brand with a rapidly growing customer base in the United States and is poised to expand its international reach, particularly in Asia, Europe and Brazil. A digitally driven company with 98% of sales coming from online channels, Rothy’s has built a loyal community of over two million customers and has since expanded beyond women’s shoes into men’s and accessories categories this past. year.

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