The Havaianas boycott campaign, launched by political leaders, activists and right-wing activists in Brazil, has caused heavy damage to Alpargatas, the company that owns the traditional brand of flip-flops and sandals, listed on the Brazilian Stock Exchange (B3).
During this Monday’s session (12/22), at the height of the campaign against Havaianas, Alpargatas shares traded on the B3 closed the session lower, resulting in a loss of one million dollars for the company in market value.
At the end of the first trading session of this week, Alpargatas shares fell by 2.39%, listed at R$11.44.
In just one day, the company lost around 152 million reais in market value, according to estimates by Elos Ayta Consultoria.
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At the opening of the trading session this Tuesday (12/23), Alpargatas shares showed a reaction. Around 10:20 a.m. (Brasilia time), the company’s shares increased by 1.4%, trading at R$11.60.
The main shareholders of Alpargatas are Itaúsa SA, with 29.58% of the total, and Cambuhy Alpa Holding Ltda., with 23.77%.
Understanding the controversy
The attack on Havaianas was launched on Sunday (12/21), in a video published by former federal deputy Eduardo Bolsonaro (PL-SP), directly from the United States, where he has resided since February.
In the video, Eduardo harshly criticizes a Havaianas ad, featuring actress Fernanda Torres, in which she states that she didn’t want people to start the year “on the right foot.” In the ad, the actress says she prefers Brazilians start 2026 “with both feet.”
The message was interpreted by Eduardo Bolsonaro and several conservative political leaders as a political provocation, with the aim of disqualifying the right and even making subliminal propaganda in favor of the left. In 2026, in a political climate of strong polarization, Brazil will hold presidential elections.
In the video, the son of former President Jair Bolsonaro (PL) appears throwing a pair of Havaianas flip-flops in the trash, in retaliation for what he considers to be political propaganda against the conservative camp in Brazil.
Besides Eduardo, other right-wing politicians have spoken out on social networks against Havaianas’ propaganda, such as federal deputy Nikolas Ferreira (PL-MG) and senator Cleitinho Azevedo (Republicanos-MG).
Left-wing politicians also joined the controversy and mocked the criticism leveled at Havaianas.
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