中文title: “Alpargatas Powers Ahead as Havaianas Lifts Q2 Sales and Margins” seo_description: “Alpargatas, owner of Havaianas, reported double-digit Q2 sales growth and a 48.5% jump in adjusted EBITDA as Brazil and international markets rebound.” seo_tags: [“Alpargatas”, “Havaianas”, “Rothy’s”, “Brazil”, “quarterly results”, “EBITDA margin”] seo_slug: “alpargatas-q2-2026-havaianas” source_url: “https://www.worldfootwear.com/news/alpargatas-maintains-growth-in-the-second-quarter/11712.html”
Alpargatas Powers Ahead as Havaianas Lifts Q2 Sales and Margins
While much of the footwear world fretted about softening demand in mid-2026, Brazil’s Alpargatas delivered a second quarter that looked like the opposite of a slowdown. The company behind Havaianas posted double-digit sales growth and a near-50% surge in profitability, calling it “the best result for a second quarter in our time series.”
In the second quarter of 2026, Alpargatas recorded total net sales of 1.23 billion Brazilian reais (US$235.9 million), up 11.3% year-on-year. Adjusted EBITDA rose 48.5% to 286.0 million reais (US$54.8 million), and the adjusted EBITDA margin expanded 5.8 percentage points to 23.3%. Net income reached 169.7 million reais, a 95.1% increase. For a group that has spent years restructuring, the numbers are a clear validation of strategy.
Havaianas did the heavy lifting. The brand generated net sales of 1.22 billion reais (US$234.0 million), up 11.4%, driven by growth in both domestic and international operations. In Brazil, Havaianas sold 45.6 million pairs, up 8.6%, with net sales rising 16.7% to 809.2 million reais — performance the company attributed to an improved product and channel mix. Internationally, the brand sold 7.7 million pairs, up 11.9%, with net sales of 405.8 million reais, a 2.3% increase.
Management pointed to the “successful execution” of higher seasonality in Europe, alongside a strong performance in Latin America and Asia, as the drivers of international growth. The United States was the one soft patch: Havaianas volume there fell 30% during the quarter as the company transitioned to a new distribution model. Notably, that transition produced a 40% year-on-year increase over the first six months of 2026, suggesting the US reset is beginning to pay off.
Rothy’s, the US-based sustainable footwear brand in Alpargatas’ portfolio, recorded net sales of US$61 million, down 3% as e-commerce volumes retracted. It is a reminder that not every brand in the group is firing, but Rothy’s is a smaller piece of the puzzle and its softness was offset by Havaianas’ strength.
The first-half picture confirms the momentum is no flash in the pan. For the six months, Alpargatas posted net sales of 2.46 billion reais (US$471.7 million), up 11.9%. Adjusted EBITDA and net income rose 46.9% and 66.8% respectively, to 585.5 million reais and 332.5 million reais.
What makes Alpargatas’ result stand out is the combination of top-line growth and margin discipline — exactly the formula Under Armour and others are struggling to achieve. “We have been able to keep our brand stronger every day, which also translates into the resumption of our growth, both in Brazil and in the international market,” the company said, crediting “sales growth with cost and expenses discipline” for the healthy, expanding margins.
For the Brazilian footwear industry, which is simultaneously battling a record import surge and falling exports elsewhere, Alpargatas is a counterexample: a domestic champion that is growing both at home and abroad. Its ability to push through price and mix improvements — rather than simply discounting to defend volume — is the lesson other Latin American manufacturers will be studying.
The broader signal is that brand strength, not just cost position, is what separates winners from losers in the current climate. Alpargatas is investing in product and channel quality, protecting margins, and still growing. In a year when cautious consumers and Asian import floods are squeezing margins across the sector, that is a rare and instructive combination.
Source: World Footwear (worldfootwear.com), reporting on Alpargatas’ Q2 2026 results, August 2026.
