Danish ecommerce company Goodiebox is expanding in Europe. The beauty tech startup launched in Austria last week and just went live with pre-launch websites in Finland and Switzerland. Goodiebox will go live in these countries approximately a month from now, while the German website will be launched later this year.
Things are looking quite well for Goodiebox, a startup that provides a monthly subscription for a box of beauty products. Only a couple of months after the ecommerce company raised 5.7 million euros, the company announced it had just reached the landmark of 100,000 members in Europe.
Five new markets in sixteen months’ time
That’s a significant increase from one year ago, when Goodiebox had 40,000 members. But in the last sixteen months, the company expanded to five new markets as it’s now present in Denmark, Austria, the Netherlands, Belgium, Sweden and Norway.
How Goodiebox decided where to expand to
And the growth isn’t stopping yet. Goodiebox is expanding to Switzerland, Finland and Germany in the coming months. CEO and co-founder Rasmus Schimegelow tells Ecommerce News Europe that the company looks at a range of different factors before they decide to enter a new market. They’ve developed an indexation model to evaluate countries.
“We include demographic data, consumer behavior and preferences, ecommerce patterns, competitive landscape et cetera. This gives us a basic idea of how attractive a market is (based on desk research)”, he explains. They also try to find out if they can service the market logistically, what cost levels they will have at a new market and if they can gather the right team.
After this first step, they start doing very early testing of consumer interest, price points et cetera. If these tests are satisfying, they follow up with qualitative data and ultimately make the go/no-go decision.
Lot of interest from Finland
Schimegelow emphasizes that one of the new markets, Finland, might not be the biggest markets in terms of target group, but: “They come out strong in a lot of the categories we look at. Plus, we have seen a lot of interest from early tests. Furthermore, we can run it out of our Copenhagen office for now, which makes the launch easier.”
‘DACH region is extremely interesting’
“The DACH region is extremely interesting due to its size. And in our quest to create happiness across Europe and become the market leader, this region is of high importance”, Schimegelow says. “Therefore, we are also in the process of opening up an office in Berlin. There are a lot of differences in the region, so we’ll have to find our niches and sweet spots.”
Goodiebox, founded in 2012 by Rasmus Schimegelow and Nikolaj Leonhard-Hjorth, now wants to reach over 150,000 members by the end of this year. For the coming years, the startup wants to go from being a product-focused company to a relational company.
Goodiebox will launch app later this year
“Right now, we are bringing happiness to our customers once a month when they receive the box – we want to expand that to become multiple times a month through other touchpoints. Our step one is the development of a happiness-inspired app that will launch later this year”, Schimegelow tells us.
Goal to become Europe’s number one
Within the next 18 months, Goodiebox has the ambition of becoming the number one in Europe. There are a lot of companies with similar concepts, with the Hut Group-owned Glossybox being the largest in Europe at the moment. “In the meantime, we will also start looking into doing tests in Asia and US. Another focus area is to co-develop more products with our members like we have done with our in-house brand, Comme Deux.
Source: Ecommerce news Europe