Pablo Recuenco: “Crowdfunding helped us sell sneakers” | Fortune

They began by making their work compatible with the idea of ​​carrying out a shoe project. And they even went to live together to be able to dedicate time and make it happen. This is the story of three friends, born in the nineties, who always dreamed of creating something together. They launched into it in 2016. Pablo Recuenco (Madrid, 1990) He is a journalist by vocation, he worked for more than a decade on it, but entrepreneurship was the bug he had fed since adolescence. And after maturing and meditating on it, he decided, together with Álvaro Rodríguez and Álvaro Patón, to create, after discarding projects that they considered unfeasible, a company, using tools of his generation, such as digital marketing or crowdfunding as a means of financing.

They have created a company according to their generation.

Marketing and digital support were essential for the development of the business. We use social network marketing, and we rely on them to see how we had to sell and what we would like to sell. This has been a race to the bottom. We were crazy about the shoes, and we wanted them to be made in Spain, not in China. The location was very important to us, since Spain had a powerful footwear industry. We sell, in addition to Spain, in six countries -France, Germany, Belgium, the Netherlands, Portugal and Italy-, we invoice 3.5 million euros in 2021 and the forecast for this year is to reach 5 million.

They began by launching a campaign of crowdfunding.

An intrinsic value of brands is doing different things, with a different design, doing something special. six years ago the crowdfunding it was something that was done with the music and little else. It was a challenge for us to attract people and make them bet on our brand. We were pioneers in developing a campaign in this type of business. We applied a method that carried with it a reward. We published our project on a platform, where we put seven models of seven models and invited people to invest 39 euros in our project. In return, they could get some shoes at a price that was not going to be repeated, in addition to getting the shoe before anyone else. The crowdfunding He helped us sell shoes.

They achieved their purpose.

We needed 12,000 euros of financing for that first production, and in the end we managed 23,000 euros. It also served as a test, which allowed us to know which models worked. It was a marketing tool. The project was financed with the commitment to receive the shoe three weeks later. We learned to communicate with customers.

Is getting financing the most complicated thing?

It is a big challenge. I’ve seen crowdfunding fail. And many entrepreneurs come to us for help with this issue. I think it’s a good tool, but if you run a bad campaign, you can fail. It may be that the campaign goal is set too high, or too low, and people don’t give the campaign much importance. The risk is in establishing a wrong range. People wonder: what advantages and benefits do I get by participating in the campaign? For us it was very positive because it allowed us not to have to go to the banks. We reinvest all profits and use the bank for more current lines of credit. We have no investors.

They opted for the digital channel, but now they are opening physical stores.

We have three points of sale, two in Madrid and one in Seville. We were born online and we were defenders of this channel, which has allowed us to measure everything, but having an omnichannel strategy is important. We started with a showroom, where we could see what the reaction of the people was. We saw that it worked well, and when the pandemic hit we thought it was a good time to give the physical world a chance. When we opened the store on Calle Lagasca, we tripled our income. With the pandemic, we also duplicated the digital business, which helps us to advertise ourselves. Physical stores work very well for us and we don’t want to miss out on this sales channel either. We also have more than 150 points of sale throughout Spain in multi-brand stores, and in this way we can also continue to grow.

Is naming the company also decisive?

It took us a long time to find the name, but we wanted one that was more important than the product that people were carrying, that was above and identified with it. and we found this [Morrison], which had no more than three syllables and was the same in all Western languages, in addition to being read the same as it was pronounced. In addition, it contains elements that evoke a beach, music and motorcycles, you put all this in the shaker, you go around it every day… until you get the name.

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