Brazil’s Alpargatas S.A. to Sell its Ownership in Osklen

Brazil’s Alpargatas S.A. received an offer of up to $ 70 million for its 60% participation in Osklen, an apparel and fashion retailer informed business journal Valor Econômico

Brazil’s Alpargatas S.A. to Sell its Ownership in Osklen

Brazil’s Alpargatas S.A., owner of Havaianas’ brand, received an offer of up to BRL $ 400M or US$ 70 million for its 60% participation in Osklen, an apparel and fashion retailer informed Valor Econômico S/A.

The board of Alpargatas S.A. approved a binding offer subject to satisfactory negotiation for the parties involved of the terms of the definitive contracts.

The proposal comes from shoe manufacturer Grupo Dass – Sport & Style to purchase the Alpargatas S.A.’s stake in Osklen.

Completing its reorganization, Alpargatas divestiture of its sake in Osklen, a Brazilian brand of sustainable surf- and skate-inspired clothing and footwear, aims at focusing on Havaianas, the big international brand of rubber sandals. Alpargatas had already transferred its regional Mizuno license to Vulcabras, parent company of Olympikus.