Brazil’s Grendene exports grew 37% in Q2

Exports by Brazilian Company Grendene, one of the world’s largest footwear producers, increased 37.4% in the second quarter of this year, according to information released by the company. Grendene owns the footwear brands Melissa, Itapema, Grendha, Rider, Zaxy, Cartago, PegaForte, and Grendene Kiks.

The company had revenue of BRL 142.8 million (about USD 27.16 million at the current rate) from the foreign market from April to June. Export revenue in dollars was up 47.8% compared to the same months in 2021. The shipped volume grew 44.6% compared to the second quarter of last year and reached 7.4 million pairs.

The company also performed well in exports in the year’s first half. BRL 343.7 million (about USD 65.07) were generated, up 24.3% over the first six months of 2021 in local currency. In dollars, the improvement was 31.8%. Shipments totaled 17 million pairs and increased 28.8% in the same period.

The company nearly doubled its net income in the second quarter. The amount was BRL 65.7 million (about USD 12.44 million), with a 98% expansion from April to June 2021. Gross revenue also grew significantly in the same comparison, 46.5%, reaching BRL 641.4 million (about USD 122.01 million). The total number of pairs sold by Grendene – in domestic and foreign markets – tallied 31.7 million.

Source: ANBA

To read the full original article, please go to: https://anba.com.br/en/brazils-grendene-exports-grew-37-in-q2/

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