Bolsonaro Supporters Boycott Havaianas Over Controversial TV Ad, Causing $20 Million Market Value Loss

A highly publicized boycott of Havaianas, a popular Brazilian flip-flop brand, has been launched by supporters of former President Jair Bolsonaro, following a television ad featuring actress Fernanda Torres that they interpreted as a left-wing jab. The backlash, reminiscent of similar campaigns in the US, has already resulted in a significant market value loss of approximately $20 million for the company.

According to The Guardian, the first day of the boycott wiped about $20 million off the company's market value. The controversy stems from the actor Fernanda Torres, the star of Im Still Here, the Brazilian film that won an Oscar for best international feature, appearing in a Havaianas television ad. Bolsonaro supporters claim that Torres' involvement in the ad is a sign of the brand's left-wing leanings, which they see as a threat to their values.

The boycott highlights the increasing polarization of Brazilian society and the potential for social media-fueled boycotts to impact businesses and cultural icons. "The far right has found a new nemesis: the flip-flop brand Havaianas," said a report in The Guardian. "Leaderless since its figurehead was jailed for attempting a coup, Brazil's far right has been searching for a new cause to rally behind, and Havaianas has become the latest target."

Havaianas has not publicly commented on the boycott, but the company's silence has only fueled speculation and criticism from Bolsonaro supporters. "The fact that Havaianas has not responded to our concerns is a sign that they are either ignorant of the values of the Brazilian people or they are deliberately trying to alienate us," said a statement from a Bolsonaro supporter group.

The boycott has sparked a heated debate about the role of social media in shaping public opinion and the impact of boycotts on businesses. "Social media has given people a platform to express their opinions and mobilize around causes they care about," said a marketing expert. "However, it also creates a culture of outrage and intolerance, where people are quick to boycott and punish companies that they disagree with."

As the boycott continues, Havaianas faces a difficult decision about how to respond. The company can either try to placate Bolsonaro supporters by distancing itself from Torres and the ad, or it can stand by its values and risk losing even more market share. Whatever the outcome, the boycott has already had a significant impact on the company's market value and has highlighted the power of social media to shape public opinion and influence business decisions.

In a statement, Havaianas' parent company, Alpargatas, said it was "monitoring the situation" and would "take necessary actions to protect its brand and business." However, it remains to be seen whether the company will be able to weather the storm and recover from the damage caused by the boycott.