May 17, 2023
Scalpers explores entry into financial market to strengthen territorial expansion
May 17, 2023
The fashion company Scalpers is actively exploring the option of entering the financial market to solidify its territorial expansion plans. Borja Vázquez, co-founder and managing director of the firm, confirmed the company's intention and expressed the ambitious goal of doubling its turnover within the next two years.
The executive of Sevillian fashion firm, Scalpers, recently participated in a new edition of the 'Dialogues' hosted by the Spanish Association of Executives (AED), according to an official statement released by the AED.
During the meeting, Vázquez shared some of the company's objectives since its establishment in 2007. He also expressed openness to the possibility of entering the financial market, but emphasized that such a decision would be contingent upon maintaining the company's current pace of operations.
"Entering the financial market would require allocating resources and attention to the process," he said.
Despite the current favourable situation of the firm, Vázquez acknowledged that the journey has not been without its challenges. He highlighted the difficulty faced by Scalpers as the company was just three years into its operations when the economic crisis of 2010 unfolded.
However, despite facing a challenging year and a half, he revealed that the company's perseverance and determination eventually convinced potential investors to believe in Scalpers' potential. As a result, the brand is now focused on its international expansion and consolidation, with approximately 28% of its total sales coming from online commerce.
Regarding the company's online sales strategy, Vázquez highlighted that this is a "fairly good figure in relation to the sector average," considering the extensive physical store network of Scalpers. However, he acknowledged that he is uncertain whether the company will reach the coveted fifty-fifty ratio that many large companies aspire to achieve between online and offline sales.
In regards to his role within the company and his business trajectory, the co-founder of the fashion company said that, although he will "always" maintain a connection to the company, he admitted that he wants to remain actively involved until the company achieves its goal of international consolidation.
He highlighted the significant progress made in transitioning from a management style centred around personal leadership to the current profile of the company, which boasts "a top-tier management team actively engaged in the decision-making process."
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