26 Apr POMPEII – JAIME GARRASTAZU
Pompeii is a Spanish brand of online shoes founded by four friends who one day decided to create their own brand of “cool sneakers”. They are different because of the daring use of colors and the combination of sole & fabric brings a detail that makes each shoe special! Pompeii is currently preparing to enter the Latin American market and Mexico is their first stop. Jaime Garrastazu, co-founder of Pompeii, shares his experience growing as a Startup Eurolatina.
Why LATAM and no other regions?
We are an online company that has opted to grow internationally and looking for new market opportunities, we have analyzed the market in Mexico. We believe it is quite similar to Spain and we can follow the same process we did when we created Pompeii. In Mexico, online commerce is still developing and as it is not a mature market there are many opportunities.
Another interesting asset is the particular demographic situation in which the region finds itself. LATAM is immersed in a demographic boom, full of young people, which is especially attractive for our product. In our recent trip to Mexico, we found ourselves with a lot of desire to innovate and with a great young entrepreneurial spirit very similar for cultural characteristics and affinity to the Spanish market.
On the other hand, the foreign trade facilities with free circulation and no tariffs make Mexico one of the most attractive markets for us at this time.
What are the main challenges that startups face when they grow internationally?
For us, one of the challenges in wanting to enter Mexico has been the lack of information about the local retail market, from logistics to storage, legal and tax advice, and we have solved it by making use of friends who live there and have helped us. It would be great if entrepreneurs could have qualitative and quantitative market information and access to local networks of contacts that could advise us on these activities.
Another challenge we face is the major time difference; unfortunately, when we start operating in Mexico in Spain it is already 15:00 h, which gives us only a minor frame to solve day-to-day problems.