Spanish jewelry brand PdPaola has been making waves in the global market with its unique product range and successful business model. Founded by siblings Paola and Humbert Sasplugas in Barcelona in 2014, the brand has already made its mark in 10 foreign markets and has gained popularity among celebrities such as Chiara Ferragni, Gigi Hadid, and Taylor Hill. With a turnover of €30 million in 2021, PdPaola has set its sights on reaching €52 million by the end of the fiscal year 2022.
In an effort to expand globally, PdPaola has implemented a growth strategy centered around organic expansion through a sustainable and profitable business model. The brand initially focused on the domestic market but later tapped into the burgeoning online market. This proved to be a successful move, prompting the brand to venture into physical retail as well. Currently, 75% of PdPaola’s sales come from e-commerce, while wholesale plays a significant role in increasing brand awareness and market reach. The brand can now be found in a number of international department stores, including El Corte Inglés in Spain, Galeries Lafayette in France, and John Lewis and Selfridges in the U.K.
Despite the challenges posed by the pandemic, PdPaola capitalized on the growing demand for jewelry online and continued to thrive. The brand weathered the storm and has since increased its workforce by 20%, now employing 80 people from various nationalities. Building on their success, PdPaola opened their first flagship store in Barcelona earlier this year, signaling their expansion from the online channel to physical retail. The brand intends to further globalize its presence through an omnichannel strategy, with plans to open a dozen stores in major European capitals like Paris, London, and Milan. Additionally, PdPaola aims to expand their market share in Spain and France, while also focusing on growing their presence in the United States, which has become their sixth-largest market.
CEO Humbert Sasplugas recognizes the importance of retail expansion as a distinguishing factor from online competitors, particularly those dropshipping inexpensive jewelry from Asia. He believes that customer loyalty will be crucial in the future of e-commerce, as the digital space has become oversaturated with advertisers. With a strong belief in the potential of the U.S. market, Sasplugas sees it as a large territory with unified linguistic, cultural, financial, and acquisition channels. To achieve their goals, PdPaola plans to maintain a steady and organized growth rate, and they are considering potential partnerships with investors to enhance their retail development.
Sasplugas envisions PdPaola as the future Pandora, with a strong value proposition that can thrive in various markets and channels. While the brand is ambitious, their focus remains on profitability, opting for steady growth and solidifying their position in the market. Sasplugas is confident in the brand’s potential and is excited about the opportunities that lie ahead. With effective execution, PdPaola aims to remain profitable and achieve a turnover of €150 million in the next five years.
Useful links:
– PdPaola website: https://www.pdpaola.com
– PdPaola Instagram: https://www.instagram.com/pdpaola_official/
