Alejandro Betancourt’s financial strategy takes Hawkers sunglasses to the next level
Hawkers Co. started out with four friends and a dream of owning their own business.
After a few attempts at different companies, the founders stumbled upon fashion glasses from California. The resale of a brand of sunglasses called Knockaround eventually caused them to turn to retail as their only endeavor.
We will see how the company has grown over the years and why the founders finally appealed investor Alejandro Betancourt Lopez to help. Known for his business acumen and forward-looking vision, his ideas helped put the company back on track.
Photo provided by Alejandro Betancourt
The early years
Hawkers started in 2013, and it didn’t take long for it to take the market by storm. It took two years before polarized lenses and frames made it to the lists of “best” eyewear, in large part because the accessories managed to meet the main criteria of almost all buyers. Practical, protective and elegant, sunglasses were selling at the rate of 10,000 units per day at the time of 2016.
The crux of the financial success of hawkers
Alejandro Betancourt Lopez has been hired to help the company meet its growing demand. These founding friends were nothing but ambitious, and their commitment to expansion was very real. The only problem was managing the cash flow. Opening new stores, manufacturing products, and hiring employees all come at significant costs. As quickly as the money came in, it was quickly spent.
It was then that Alejandro Betancourt Lopez was called. An entrepreneur who has been successful with the international investment group O’Hara AdministrationIt wasn’t just his money, but also his business acumen that was needed.
After reviewing the company’s metrics, he decided to make some changes. One of the first things he insisted on was improving transparency (especially with regard to the supply chain) and impeccable customer service. However, his most impressive accomplishment has undoubtedly been finding a way to improve profits per sale.
It was his decision to focus solely on the power of social media, and there is no doubt his ideas worked. In 2016, nearly 93% of the $ 70 million Hawkers earned came directly from social media.
Why did Hawkers Co. rely on social media?
When you think of fashion these days, you might think of brilliant photos on screens. People’s inspiration doesn’t just come from standard television and advertising anymore. Instead, they turn to influencers in their chosen circles. It could be anyone from a brother to a friend to a minor hometown celebrity.
This type of marketing is not new, but Instagram It was certainly at the time that Alejandro Betancourt Lopez decided to try his luck. This emerging platform didn’t have the cachet it has now, but this investor saw its potential nonetheless. Today, the photo-ready app is naming Hawkers as an early success story, encouraging more brands to take part in the Instagram action.
Anyone who follows Hawkers’ story can tell how the company’s market position soared thanks to Alejandro’s strategies. By teaming up with people who already loved Hawkers – the same fashionistas who were already talking about trendy styles and comfortable frames – the product reviews were true.
People reading sponsored content haven’t seen ads; instead, they saw a person who just wanted to tell everyone about their cool sunglasses. Nominal paid incentives, including free merchandise and a small percentage of each sale, were enough to keep influencers happy without putting undue strain on the marketing budget. Betancourt Lopez would use this leverage to sell sunglasses in more than 140 countries around the world.
What’s next for the Hawkers brand?
Hawkers Co. relied heavily on the younger population for its success. The Campus Ambassador program the company ran included thousands of people in Spain alone to promote sunglasses. Alejandro Betancourt Lopez and the founders of Hawkers are determined to honor those who have helped them succeed by introducing new products that meet the needs of their people.
You can see it in the company’s line of eco-friendly products, which respect the Earth without compromising on style. From sunglasses production to packaging, Hawkers continues to evolve based on market demands and the voice of buyers.
There is no such thing as a safety net for an entrepreneur. Accepting risks is a daily practice. Still, Hawkers should be an inspiring story for all startup founder who is not afraid to seek advice and take risks on emerging opportunities.