Feb 2, 2017
Online, Japan, Russia & Mexico drive growth at Masaltos.com
Feb 2, 2017
Masaltos.com, the leading online destination for height increasing shoes for men, increased sales by 12% in 2016 after selling more than 16,000 shoes globally. The growth was driven by growing demand in Japan, Russia and Mexico, which accounted for 25% of the company’s revenue.
In a press release Masaltos.com said the performance “confirms its approach of constant expansion supported by two targets: the consolidation of the domestic market and the boost of exports”. Indeed, the business model implemented by the company in the last decade has “established Masaltos.com as one of few Spanish companies with a strong presence across five continents and a great potential for growth,” it said.
International sales accounted for 65% of total sales, but for Masaltos.com Spain continues to be the largest market. However, the company expects this to change soon, as its international expansion has boosted sales overseas, with the US now making up more than 10% of all sales. North America is now Masaltos’ largest international market, followed by Japan, Russia and Mexico, which account for 25% of all sales. Argentina rounds up the list of largest markets outside Europe.
Japan delivered the largest growth last year, benefitting from a partnership deal that Masaltos.com signed with ATPC Japan in 2015 to enter the attractive Asian market, which is home to more than 4,500 million people. The UAE also performed well, said the company.
Although international business is important, the company wants to continue trading in Spain as its economy begins to show signs of strength, commented Masaltos CEO Antonio Fagundo.
E-commerce is key
Masaltos.com offers more than 100 styles, including formal and casual footwear to men around the world. Its customers include businessmen, high executives and political figures as well men who are interested in appearing taller. Last year the company received four awards for the quality of its products and its online offering, it noted.
Masaltos.com was one of the first Spanish companies to launch e-commerce operations 20 years ago. It has now an online presence on some of the world’s leading e-commerce platforms, including Amazon Japan, Pikengo and DooYoo.
"Much of the company's growth in 2016 has come from Gianni Garzanero's Special Edition collection, particularly the Atlanta and Denver styles, which have been very well received by our customers," says Antonio Fagundo. The company was hoping customers would respond well to the campaign with Garzanero, but the results “exceeded expectations, especially in countries like Russia and Japan."
E-commerce has become the business’ fastest growing sales channel. Of 16,000 pairs of shoes sold in 2016, 90% was purchased online, it said. To capitalise on this growth, the retailer launched in October a Facebook store, which joins further accounts on Twitter, Instagram, Pinterest and Whatsapp, allowing the brand to interact with customers directly.
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