Hawkers, led by Alejandro Betancourt López, made a bold move by deciding to sell its affordable and stylish sunglasses primarily through its online platform. It was an industry-disrupting strategy and turned the sector on its head. So it’s safe to assume its latest move will be closely watched — especially as it might seem counterintuitive at first glance.
The primarily online enterprise has taken a bold step by opening its first brick-and-mortar store in Mexico. This move marks a new chapter in the brand’s evolution and reflects the broader vision of Betancourt López, the Venezuelan entrepreneur who has been instrumental in steering Hawkers toward global expansion. By entering the physical retail space, Hawkers is not only expanding its market presence but also redefining its business strategy in Latin America.
“We’ve been very successful in Mexico,” Betancourt López shares. “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.”
Alejandro Betancourt López on the Significance of the Mexican Market
Mexico represents a strategic opportunity for Hawkers as it looks to expand its global footprint. The country’s growing economy, coupled with a large and youthful population, makes it an attractive market for international brands. With increasing disposable income and a rising middle class, the demand for fashion-forward eyewear is on the rise. Hawkers’ decision to establish a physical presence in Mexico is a calculated move that taps into these favorable market conditions.
This expansion isn’t just about entering a new geographical market; it’s about establishing a stronghold in a region that holds significant potential for growth. Mexico’s proximity to the United States and its influence within Latin America make it a gateway for further expansion into the continent.
“We’ve been very successful in doing one country, which is where the brand was born, in Spain,” Alejandro Betancourt López says. “And what are we doing is going and expanding that to Europe, which is the neighboring countries around Spain, and into Spanish language-speaking countries like Mexico, Colombia, Argentina, Peru, and others.”
However, entering the Mexican market is not without its challenges. The retail landscape in Mexico is competitive, with established local and international brands vying for market share. Hawkers will need to navigate this competitive environment while also adapting to the unique consumer preferences and behaviors in Mexico. Despite these hurdles, the opportunities presented by this market make it a crucial part of Hawkers’ expansion strategy under the leadership of Alejandro Betancourt López.
Hawkers’ Expansion From Online to Offline Retail
Hawkers has built its reputation as a digital-native brand, leveraging the power of e-commerce to reach a global audience. The brand’s online model allowed it to bypass traditional retail channels, reduce costs, and offer affordable yet stylish eyewear to a broad customer base. This approach was particularly effective in a market where consumers were increasingly turning to online shopping for convenience and variety. However, as the brand matured, the limitations of an online-only presence became more apparent, prompting a strategic shift toward physical retail.
The decision to open a physical store in Mexico represents a significant transition for Hawkers. By entering the offline retail space, the company is acknowledging the importance of brand presence and customer engagement that physical stores can offer. This move is part of a broader trend in the retail industry, where brands are adopting an omnichannel strategy, blending online and offline experiences to meet the evolving needs of consumers.
Physical stores provide an opportunity for Hawkers to showcase its products in a way that online platforms cannot, allowing customers to try on products, receive expert advice, and enjoy the tactile experience that is often missing from e-commerce. This enhanced customer experience is expected to drive brand loyalty and increase sales, both online and offline.
Implications for Hawkers’ Retail Strategy
The opening of Hawkers’ first optical store in Mexico has far-reaching implications for the brand’s retail strategy. This move is likely the first of many as the company seeks to expand its physical presence in key markets around the world. By establishing a foothold in Mexico, Hawkers is positioning itself to replicate this model in other Latin American countries, where similar market conditions exist. The success of this store could pave the way for further expansion into countries like Brazil, Argentina, and Colombia, which also have growing middle classes and increasing demand for fashionable eyewear.
Alejandro Betancourt López’s steady hand and long-term vision have been critical in navigating the challenges of global expansion and ensuring that the company remains on a growth trajectory. His involvement has provided the stability needed to execute a complex retail strategy that includes both online and offline components.
As Hawkers expands its physical retail presence, it will likely continue to innovate and adapt its strategy to meet the specific needs of each market. This could include a mix of company-owned stores and franchised locations, allowing the brand to scale rapidly while maintaining control over its brand image and customer experience. The opening of 75 new stores globally, as mentioned in the company’s plans, reflects an ambitious goal that aligns with Betancourt López’s vision for the future.
Hawkers in Latin America and Beyond
The introduction of Hawkers’ physical stores could also lead to a shift in consumer expectations. Latin American consumers, who have become accustomed to purchasing eyewear from traditional optical shops or through online platforms, may now seek out more immersive and personalized shopping experiences. Hawkers’ stores, designed to offer a seamless blend of style, affordability, and customer service, could set new standards in the market, encouraging other brands to enhance their retail offerings.
In the long term, Hawkers’ expansion into physical retail in Latin America could lead to increased market share and stronger brand recognition across the continent. The company’s ability to adapt to local market conditions, coupled with its innovative take on retail, positions it well to capitalize on the growing demand for fashionable eyewear in the region. As Hawkers continues to execute its retail strategy under Alejandro Betancourt López’s guidance, the brand is likely to become a major player in the Latin American eyewear market, influencing trends and shaping consumer preferences for years to come.
And he’s not planning on stopping there. “We’ve been focusing on expanding around Europe, and we’ve been very successful. It’s the same strategy. We’ve taken advantage of social media, online social media, and celebrities. We also have been taking advantage of the language, of Spanish-speaking countries. And then in countries that are neighbors that logistic wise, we can remain competitive, like France, Italy, Portugal, Germany, etcetera.”
