20VC: From a $1.1M Acquisition to $1.4BN in Revenues; The Meteoric Rise of Hoka Running with Deckers CEO, Dave Powers
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
Challenges with retailers and wholesalers and international expansion strategy
The biggest challenge in working with retailers and wholesalers is finding partners who can represent and showcase the brand appropriately, ensuring it is presented with storytelling, proper signage, and fixturing. Neglecting brand presentation and service led to trouble with a previous brand, so the focus now is on maintaining a level of service and creating a story to go with the product. For international expansion, the key strategy is to focus on being meaningful and important to the best athletes in the targeted sports market, as was successfully done in Japan by focusing on marathon and trail race athletes and working exclusively with the run specialty channel. The playbook for international expansion is based on understanding the unique running communities and adjusting strategies accordingly.
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