Hawkers, the successful and trendy brand of sunglasses, was not an overnight success. Its sales catapulted overtime after the company was launched with a mere $300 as the starting capital. However, its financial situation was worse despite the millions in sales, and at one point, the founders of the company considered winding it up. However, the entry of Alejandro Betancourt changed the company’s fortunes.
View this post on Instagram
Alejandro Betancourt, a respected investment mogul in EPC and energy, is never shy when it comes to investment. He operates on the principle of never giving up despite the number of times one falls. For Betancourt, challenges are meant to be faced head-on. For this reason, he did not shy away from working with Hawkers when it was struggling financially and dealing with other significant problems.
The company was born after a trip to the US by one of the company’s founders who came across some Knockaround sunglasses which he deemed had high resale potential. With an initial 27 pairs, the company was started online, and within six months, the company had become the official distributor of the Knockaround sunglasses in Spain.
The company key selling point was accessibility, attractiveness and better prices. Within months of operating, the company was already a big success. The extraordinary growth would, however, was cut short by the rising expenditure levels, which constrained the company financially. As the company’s founders were looking for a way out, Alejandro Betancourt came to their rescue in 2016.
Alejandro Betancourt was optimistic about the company’s potential. He organized for a capital infusion of $56 million into the company. Determined to turn around the company’s fortunes, he took over administrative control of the company in 2016, after he implemented several leadership changes. Within months of his leadership, Hawkers had grown into a $70 million company with over 10,000 sales per day.
In 2018, Alejandro increased his stake in the company by investing 20 million euros to become the majority shareholder. He also became the company’s president. Under his leadership, the company has become a strong brand well recognized for selling affordable, high-quality sunglasses, which has significantly boosted the company’s growth.