Shoulder has acquired a 40% stake in Haight with a view to a complete acquisition within 18 months, aiming to expand into the beachwear segment of the Brazilian fashion market.

Information on the Target

The target of this acquisition is Haight, a prominent fashion brand founded in 2014 in Rio de Janeiro. Initially established with a focus on beachwear, Haight has successfully expanded its offerings to include a wider range of women's fashion. With seven physical stores located across Brazil, the brand has also ventured into international markets, where exports account for 20% of its total revenue. This strategic growth positions Haight as a valuable addition to Shoulder’s portfolio.

The acquisition sees Shoulder acquiring a 40% stake in Haight, with provisions for a full acquisition in the next 18 months through a share exchange mechanism. This marks Shoulder’s continued efforts in diversification, particularly into the beachwear segment, enhancing its existing offerings that already cater to a wide array of women’s fashion needs.

Industry Overview in Brazil

The fashion industry in Brazil has experienced significant growth over the past decade, driven by an increasing consumer base and a rising interest in latest trends. The sector is characterized by a blend of local and internati