In early 2016, Leopoldo Alejandro Betancourt Lopez made a thoughtful investment and led a funding round worth around $ 56 million. That also included an investment from prominent entrepreneurs of social networking application Félix Ruiz and his counterpart Hugo Arévalo. They worked together to help improve the company’s scale quickly.
The four founders of the firm, including Alex Moreno, Pablo Sanchez, David Moreno, and Iñaki Soriano, jointly started a business with only $300 in 2013. after Leopoldo Alejandro Betancourt Lopez went to the US to study and brought back a pair of sunglasses that had the famous Knockaround American brand, they both then worked as the Spanish brand ambassador to Knockaround for a while, then later joined Soriano and Lozano as vendors.
The vendors carried out excellent marketing. They delivered the sunglasses directly to consumers through major platforms like Facebook. Over the years, social media platforms have created a name for themselves by providing outreach. The outreach brought exposed them to other entrepreneurs where they shared marketing strategies. Twitter has set the precedence where it uses vendors to study how companies can grow quickly by utilizing their service features.
Leopoldo Alejandro Betancourt Lopez and the company focus on product quality and reasonable price points (usually between $ 20 and $ 40), providing excellent value for buyers for their purchases. The color and style of the vendor attract young demographics. Initially, vendors made their sunglasses in a factory owned by the dominant Luxottica industry player, but this and other factors, like back-order order policies and less transparent customer service, created financial difficulties.
With investment funds coming at the right time, Lozano, Soriano, and Mareno brothers immediately asked Lopez to become the new president of the vendor, and Lopez brought Branding experts and strategic planning to serve as the company’s tact team. In the company, the CEO oversees the operation.
Leopoldo Alejandro Betancourt Lopez worked with Pablo, Alex, Iñaki and David to change business marketing strategies. The company began a new encouragement to concentrate on hiring students to work as social media influencers. The company’s millennial demographic target is often older but still in the middle of their twenties.