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Overcube triples turnover in 2019

May 22, 2020 Portugal
Overcube triples turnover in 2019
The online platform, part of the Kyaia group, was launched in 2018. Two years later, the Kyaia group's online sales platform already has 40 000 customers and turnover almost tripled in 2019, reaching 3.250 million
Fortunato Frederico, owner of the Kyaia group, believes that the pandemic has come to validate the group's bet on digital: “People raised questions about our bet (on a digital platform) and we had them, too. But we also had the ability to resist and evolve and today, two years later, we are sure that the project has legs to move. Online sales require, above all, a lot of investment, but we did it with our capital and we are sure that this is the way ”, he says in statements to Dinheiro Vivo, a Portuguese news platform.

Overcube was launched in March 2018 with the goal of making Portuguese footwear available to the world. Two years later, the Kyaia group's online sales platform already has 40 000 customers and accumulated sales of 4.6 million euros. Turnover almost tripled in 2019 and reached 3.250 million euros.

This platform results from an accumulated investment of almost 4.5 million euros, of which more than 2.3 million are related to the marketing area. The project had a return on investment (ROI) of 150% in 2019, which compares with the 33% of the previous year. In the first quarter of 2020, ROI was 65%. Overcube already has a portfolio of 61 different brands for sale, from 9 countries. The weight of Portuguese customers went from 37% in 2018 to 29.5% in 2019. In contrast, the United States and Canada already account for almost 18% of sales and the United Kingdom about 27.5%.

Overcube Collectiva

The platform recently launched a solidarity campaign called Overcube Collectiva: 10% of sales of selected models from the Foreva, Fly London and Softinos brands was channelled to support the National Health System in the fight against Covid-19. The project started on the 30th of March and is in force until the 31st of May. With the success of the project, the initiative will continue, now under the motto 'Portugal COmVIDas', and the goal is to raise, between June and September, around four thousand euros.

Physical Store

In addition to the virtual space, Overcube also inaugurated a physical space back in November 2019 in Lisbon. The store aims to be a hybrid experience combining the best of traditional commerce with the innovation and technology of online commerce.

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