Hawkers Co. Turnaround: Alejandro Betancourt’s Strategy That Saved the Company
Alejandro Betancourt joined business ventures in the early 1990’s as a business consultant to venture capital, private equity and private equity-backed companies. During the years, Betancourt broadened the business model, focuses and made it more efficient. Betancourt and Hawkers rose above the competition due to various strategies. Focus on clothing that people need and appreciate. This is something that has helped Betancourt find their place on people’s shelves. Unlike other sunglass manufacturers that only try to be fashionable or offer a good deal, the brand focuses on creating good-looking sunglasses that are also functional. The company recognizes that sunglasses have the ability to change the way people see the world around them.
Improve quality of product. When customers buy a product, they expect it to hold its value and perform for a long period of time. That’s why the firm does not compromise on quality. Alejandro Betancourt needed to understand what his customers wanted, and it wasn’t clear to him where they were coming from. Betancourt changed his mind set to gain a holistic understanding of the consumer’s experience and how their purchasing choices were changing. Alejandro Betancourt credits their success to a diverse clientele of affluence, appreciation and style.
In an effort to gain a larger market share, Hawkers Co. embarked on a mission to expand their business through new product launches, strengthening relationships with retailers and promotions. The company tried to promote products in online sales through their own site and partnered with others. However, this effort, too, didn’t yield sufficient results. But it experienced losses when the downturn of the economy in 2008 happened, and their promotions and customer acquisition efforts were not enough to support their revenue growth.
Alejandro Betancourt got his start with Hawkers Co., the rising entrepreneur came up with the idea of selling sunglasses online, using his close relationships with several mall kiosk owners to gain interest. He later worked in various departments, from design and logistics to sales, marketing, and e-commerce, while still learning the business. Alejandro Betancourt’s strategy at the time was to maximize sales.