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The Brazilian producer of footwear, apparel and sporting goods has received an offer of R$400 million (US$71.3 million) for its 60% majority share of Osklen.
The buyer is Brazilian footwear manufacturer Dass Nordeste Calçados e Artigos Esportivos, which also acts as a local supplier of shoes for Nike, Adidas and Asics.
Alpargatas stated that the disposal of the stake held in Osklen will allow the company to focus on its organic growth by expanding Havaianas into new categories. The brand is especially known for its flip-flops.
According to shoeintelligence.com, the company plans to invest R$600 million reais (US$ 107 million) in 2022 to increase its manufacturing capacity and logistics network to support the development of Havaianas.
Source: World Footwear