Brazil Shoe Maker Grendene Boosts Revenues from Foreign Sales by 23%

Grendene ad piece Brazil's shoe manufacturer Grendene boosted by 12% its gross revenues in the third quarter compared with the same period of 2006. According to just-released company's information, Grendene posted gross revenues of 418.7 million Brazilian reais (US$ 241.2 million) during the period.

The domestic market accounted for 89% of gross revenues from July to September, a growth of 371.6 million reais (US$ 214.1 million), or 11.5%, over the same months of 2006. Exports answered to 11% of gross revenues, at 47.1 million reais (US$ 27.1 million), a 16.6% appreciation of the Brazilian currency, and a 32.3% appreciation of the dollar.

The adjusted net income stood at 81.6 million reais (US$ 47 million), surpassing by 6.5% the result recorded in the same period of last year. Grendene sold 37.8 million pairs between July and September, 10.5% more than in the same period of 2006. Of that total, 30.2 million pairs were destined to the domestic market, 2 million more, and 7.6 million pairs went to the foreign market, an increase of 25.8%.

In the first nine months of the year, gross revenues stood at 998.9 million reais (US$ 575.6 million), 9.9% more than recorded in the same period of 2006. Of that total, 84% came from the domestic market. The foreign market generated 158.4 million reais (US$ 91.2 million) for the company, an increase of 22.6%, in Brazilian currency, against the same period of 2006, and of 33.6% in dollars.

"The forecast for the last quarter of 2007 and beginning of 2008 is a growth even bigger than what is being posted. The economic conjuncture is favorable, plus we are having a good response with regard to exports," says Francisco Schmitt, Investor Relations Director at Grendene.

In the month of September, a new factory owned by Grendene went into operation, in the municipality of Teixeira de Freitas, in the northeastern Brazilian state of Bahia, with production capacity of 10 million pairs per year.

According to Grendene, the unit will allow for an increase in product competitiveness, as it is located near large consumer centers, such as the Southeast region of Brazil.

Anba

Tags:

  • Show Comments (3)

  • kika vliegenthart

    leather custom sandals
    I would like to find a sandal manufacturer who could take 1 of my sandal designs in production.

  • gontle modibedi

    Shoe designer
    i nid to link with a shoe designer whom we can work together to open a store

  • alana lemay

    i need a shoe manufacturer
    i need information on a shoe manufacturer to make a line on new shoes. any help is much appreciated.

Your email address will not be published. Required fields are marked *

comment *

  • name *

  • email *

  • website *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Ads

You May Also Like

Brazil's gay couple kiss in Goiânia's Gay Pride Parade

Brazilian Bill Would Jail Priests and Pastors Who Oppose Homosexuality

Legislation under consideration by the Brazilian Senate that would make any public expression of ...

Obama Wins Primary in Brazil by a Landslide

The Democratic presidential candidate senator Barack Obama won his 11th consecutive victory in a ...

Guatemala Gets Lessons on Zero Hunger from Brazil

Representatives from Guatemala arrived in Brazil today to become acquainted with the Zero Hunger ...

Brazil Gets Ready for War with 12 Mirage Fighter Planes

Brazil purchased twelve French combat aircraft Mirage 2000 during the official visit of President ...

Elections keep the status quo

Brazilians are going to the polls for the runoff election November 15. But for ...

Chemical Rain on Brazilians Leaves New Zealand’s Green Reputation Badly Damaged

Two Brazilian tourists who were doused with herbicide by a helicopter spraying gorse over ...

How Brazil Fooled the Whole World on AIDS

The World Bank’s forecast in the decade of the ’80’s about the growth in ...

Brazil’s “New Alternative” Campaign Bears Fruit in Middle East

Brazilian companies participating in the Big 5 Show, the largest trade fair in the ...

Brazil’s New President Chooses a Wall Street Friendly Transition Team

Dilma Rousseff, Brazil’s new president-elect, named a market-friendly transition team on Monday as she ...

In Meeting with Brazilian Leader, Indian Premier Asks for Time-Bomb Action

Brazilian President Luiz Inácio Lula da Silva has been meeting with the leaders of ...