Sales were up but profit was down last year for São Paulo Alpargatas. The Brazilian owner of the Havaianas brand had an 18 percent drop in profits to 173.2 million Brazilian reias (€58.7m-$76.3m), even though sales increased by 21.2 percent to R$1.66 billion (€563.0m-$731.1m). The gross profit grew by 11.9 percent to R$728.8 million (€247.2m-$321.0m). São Paulo Alpargatas, along with Alpargatas Argentina, in which it acquired a majority stake last year, makes about 250 million pairs of footwear per year.