Hawkers, the Spanish eyewear company that rocketed from “what’s that?” to must-have since its founding in 2013, is embarking on an ambitious growth plan that aims to double its sales and retail footprint by 2026. Under the leadership of Venezuelan businessman Leopoldo Alejandro Betancourt López, Hawkers has set its sights on achieving 100 million euros (approximately $110 million) in revenue within the next few years. This bold target reflects the company’s commitment to expanding its market presence and enhancing its product offerings, all while staying true to its roots as a digital-native brand. The plan, which includes significant investments in international expansion, product innovation, and digital transformation, is designed to position Hawkers as a global leader in the eyewear industry.
“When I joined Hawkers, we were a company of 40 people. Today we employ more than 500 people,” Betancourt López says. “We have a huge division of wholesale. And of course the online nature of the company, which is where the company was born, employs about a hundred people alone. So we have grown, not only in countries and presence in different jurisdictions, but also in the amount of people and families we employ, and we provide services to.”
Leopoldo Alejandro Betancourt López’s Ambitious Financial Target
While Betancourt López deserves the credit for turning online marketing on its head with his innovative promotion of the Hawkers sunglasses brand, he’s no slouch in the finance department, either.
“The company closed 2023 with a 17% increase in sales, reaching 55 million euros,” he shared on his website. “It expects to grow another 20% in 2024, driven by its online and wholesale channels, which account for 44% and 22% of its total sales, respectively. The remaining 34% comes from its 70 own stores, located mostly in Spain, Portugal, and Italy.
“Hawkers will invest 20 million euros in 2024, financed with its own capital, to support its growth strategy. The company has five main pillars: international expansion, retail development, product innovation, sustainability, and digital transformation.”
Achieving this ambitious target will require Hawkers to navigate a complex landscape of opportunities and challenges. The company’s rapid growth in recent years has been driven by its ability to innovate and adapt to changing market conditions. However, doubling its revenue will necessitate a more aggressive approach to expansion, particularly in markets where the brand is not yet fully established. Additionally, Hawkers will need to continue to differentiate itself from competitors, many of whom are also pursuing growth through international expansion and product diversification.
International Expansion as a Key Driver
Mexico and Spain are strategic choices for Hawkers’ expansion for several reasons. Both countries have large, youthful populations with a growing interest in fashion and affordable luxury, making them ideal markets for Hawkers’ trendy and cost-effective eyewear. In Mexico, Hawkers has already made significant inroads with the opening of its first franchise store in December 2023, and the company plans to replicate this model in other locations. Spain, as the company’s home market, remains a crucial area for growth, with plans to open additional stores in major cities to cater to the increasing demand for its products.
“We’ve been very successful in doing one country, which is where the brand was born, in Spain,” says Leopoldo Alejandro Betancourt López. “And what we are doing is expanding that to Europe, which is the neighboring countries around Spain, and into Spanish language speaking countries like Mexico, Colombia, Argentina, Peru, and others.
“We’ve been very successful in Mexico. We are one of the leaders in Mexico, and it’s a country that just population wise is as big as almost Europe, or half of Europe. This is a country that we’ve been putting a lot of resources lately, and we want to expand not only on the digital presence, but on the physical presence by opening stores. In the next two years, we should be opening some stores there, and some optical services in different places of Mexico.”
Digital Transformation and Sustainability Initiatives
As part of its growth strategy, Hawkers is also making significant investments in digital transformation and sustainability initiatives. The company recognizes that in order to achieve its ambitious goals, it must continue to innovate not only in its product offerings but also in the way it operates. This includes leveraging digital technologies to enhance the customer experience, streamline operations, and drive efficiency across the organization.
Digital transformation is a crucial focus for Hawkers, particularly as the company continues to expand its online presence. With 44% of its total sales coming from its online platform, it is clear that e-commerce is a crucial component of the company’s growth strategy. By investing in new technologies and digital tools, Hawkers aims to improve the online shopping experience, making it easier for customers to find and purchase products. This includes enhancing the company’s website, optimizing its mobile app, and utilizing data analytics to better understand customer preferences and behavior.
“Hawkers was born as a digital-native start up that disrupted the eyewear market with its low-cost and trendy sunglasses,” said Betancourt López. “The company attracted investors and media attention, but also faced challenges and changes in its management team. Now, Hawkers is entering a new phase of consolidation and growth, with a professional structure and a clear vision for the future.”
Leopoldo Alejandro Betancourt López’s leadership has been instrumental in driving these initiatives. Hawkers’ ambitious growth plan is a testament to the company’s vision and determination to become a global leader in the eyewear industry. Under the leadership of Leopoldo Alejandro Betancourt López, Hawkers is pursuing a comprehensive strategy that includes international expansion, product innovation, and digital transformation. With a clear focus on these key areas, Hawkers is well positioned to achieve its goal of doubling its sales and store count by 2026, solidifying its place as one of the most successful and innovative brands in the market.
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