Scaling up US D2C retailer

Context

A large Dutch investment company sold their retail hearing aid activities in Europe due to the expected disruption in the traditional model. Furthermore, they acquired a start-up in the hearing aid industry in the US, recognizing its disruptive potential.

Goal

Scale the acquired company successfully and make it profitable.

Approach

  • Focus on improving processes, scalability of marketing and sales, and achieving profitability.
  • Emphasis on online presence, including insourcing website development, expanding email marketing, and leveraging scalable marketing channels like Facebook.
  • Implement cost measures, such as shutting down non-profitable channels and downsizing the call center.
  • Formation of a new management team with millennials, incorporating internal promotions, and creating a more efficient organization.

Results

  • Achieved breakeven in six months through revenue growth and cost measures.
  • Significant improvement in organizational effectiveness.
  • 40% growth in online sales.
  • Enhanced profitability and successful transition to the next phase of the company.

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