Flip-flops are a global cash machine. Brazilian brands like Alpargatas (Havaianas) and Vulcabras are producing more than ever.
Globally acclaimed as the creator of the modern flip-flop, Havaianas, owned by Alpargatas, has captivated since its launch with iconic and timeless designs, proving that authenticity and simplicity never go out of style. With flip-flops continuing to enjoy the good graces of the fashion crowd, the flip-flop brand has introduced fashion icon and celebrated international supermodel Gigi Hadid as its new Global Brand Ambassador. With 72.2 million followers, Hadid will for sure draw attention from sandal-hungry customers with her posts and make Alpargatas’ cash drawer rattle.
The flip-flop is a lucrative product globally. According to Grand View Research, the global market was worth at $4.04 billion in 2022, and from 2023 to 2030 it is expected to grow at a compound annual growth rate (CAGR) of 3.8 percent to about $5.3 billion. It is being driven primarily by the growth of the fashion industry, with a rise in the fashion sense of the global population.
Havaianas’ parent company, Alpargatas, is doing just fine at the moment. Meanwhile, Vulcabras, another flip-flop and shoe manufacturer from Brazil, has reported 50 percent growth in its e-commerce for Q4 2024.
Naturally, Brazil is the world’s major manufacturer of flip-flops. Besides Alpargatas, companies like Grendene produce millions of pairs for their own brands as well as for other global brands.
Evolving beyond beachwear, flip-flops have taken a bold step into the fashion conversation, appearing on runways. Luxury brands have embraced them without reservation, creating their own thong-inspired designs. Taking center stage, Havaianas’ most iconic shapes became the “it” shoe of summer 2024 – spotted on the feet of stylish celebrities and influencers at international fashion weeks.
