The Brazilian businessman Carlos Wizard Martins has acquired the entirety of Alpargatas S.A.I.C. of Argentina, and with it the worldwide rights to the Topper brand of athletic footwear. The similarly named Alpargatas S.A. will remain a separate operation in Brazil. In September 2018 Wizard Martins paid $24 million for a 21.8 percent share in the Argentine company to acquire the Brazilian rights to Topper. The company then split into an entity for sportswear and an entity for the rest of its apparel and the Havaianas brand of rubber sandals. Within a week, it announced the closure of two factories in Argentina and the termination of 453 employees, ascribing the move to Argentina’s economic woes and slow consumer markets. In July 2019, it closed its remaining textile factories in Argentina and wound down the country’s business unit (SGI Europe Vol. 30 n°29+30 of Aug. 29, 2019).