In the third quarter of 2022, the stock prices of footwear companies and associated sectors monitored by Shoe Intelligence were on average virtually unchanged, falling by less than 3 percent when compared with the previous three months. [Stocks of Brazilian footwear manufacturers outperform in Q3 – Shoe Intelligence]
The cohort of Brazilian footwear manufacturers outperformed significantly as the South American country enjoyed a rebound in domestic demand following the easing of Covid-19 related restrictions and a surge in exports. The Brazilian footwear association, Abicalçados, also highlighted how the domestic footwear industry has benefited from the increase in maritime freight costs, which has prompted Latin American buyers to source closer to home. The country has also booked a sharp increase in exports to its main foreign market, the U.S., which is incidentally the largest footwear market in the world in value.