Smart Fit’s strategy in LatAm,REGO Restaurant Group´s Quiznos Expands in the Region & More Sales Leads LatAm
- Smart Fit
Smart Fit‘s strategy in LatAm gets stronger. Smart Fit, one of the largest network of gyms in Latin America, has inaugurated its first gym in the city of San Salvador, the capital of El Salvador. Smart Fit‘s strategy of expansion is part of the company’s plan to increase its international presence and to tap the market potential in the Caribbean country. With El Salvador, Smart Fit is now in 12 countries. They are: Argentina, Brazil, Chile, Colombia, Ecuador, El Salvador, Guatemala, Mexico, Panama, Paraguay, Peru and the Dominican Republic. The expectation is to maintain the pace of new gym openings, and to continue investing in Latin American countries that are ripe for investment. Smart Fit recently hit 2.8 million gym-goers at all of its locations. In 2020, the company estimates there will be 1.3 million new members in Brazil alone – which is approximately 2.5 registrations per minute. This year will also see a gym opening every 36 hours, for a total of 238 new gyms in Latin America. The brand currently has 797* gyms.
REGO Restaurant Group´s Quiznos, an American franchised fast-food restaurant brand based in Denver, Colorado, that specializes in offering toasted submarine sandwiches is expanding into Latin America like never before. The company has signed a 20-unit development deal and plans to open 5 this year, in Costa Rica, Honduras, Panama, Nicaragua, and El Salvador.In June 2018, High Bluff Capital Partners acquired the once high-flying brand, which had around 5,000 locations at its peak, but was down to about 800 when acquired, with a large number of those surviving restaurants outside the U.S. “As we dive into the next phase of our long-term growth strategy, our Latin American presence is one vehicle to accelerate the reinvigoration of the Quiznos brand and drive further expansion,” said Tom Harper, Vice President of International Development at Rego Restaurant Group, owner of Quiznos.
Spanish Fintech startup Bnext is expanding beyond its home country and currently rolling out its product in Mexico. Bnext is going to invite those 170,000 potential users first before opening signups to everyone. Mexico is the first country in the region for the startup to expand. Bnext is building an alternative to traditional bank accounts. Customers can open a Bnext account in minutes using a mobile app. A few days later, users receive a payment card. They can then upload money to their Bnext account, and send and spend money all around the world, according to Techcrunch. Users can receive notifications for each transaction with their card, temporarily lock and unlock their card and more. In other words, Bnext does many of the things that one can expect from a neobank. Bnext plans to attract customers with cheaper international transactions. Mexican customers get two free withdrawals per month.The startup has put together a local team in order to expand to Mexico. There are currently 12 employees working for Bnext in Mexico City. The startup expects to launch its marketplace in Mexico at some point during the second half of 2020 as well as to expand to other countries in Latin America in the future.
- Hydro Flask
Hydro Flask, the high-performance, insulated stainless steel flasks and soft good innovations and a Helen of Troy Limited company, is expanding its growing global presence with the addition of two distributors in the Latin American market. Hydro Flask launched in Uruguay in July 2019 and will expand into Mexico in early 2020 through new strategic partnerships with Gubrand and Alta Vertical, respectively. Key channels include outdoor, active lifestyle, sporting goods, coffee/tea and online.Dedicated to uniquely refreshing experiences, innovative design and an unparalleled user experience, Hydro Flask has grown to become the number one overall American water bottle brand in Sporting Goods and Outdoor, according to third party data.
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Toy company Hasbro has consolidated its global media account with GroupM’s MediaCom. The WPP-owned agency has snatched the business from incumbent OMD. MediaCom will handle all the brands under Hasbro in all the markets it has a presence in. Prior to the consolidation, Omnicom Media Group’s OMD held the Hasbro account for 15 international markets including APAC and Europe, while MediaCom was overseeing Latin America.Brands under Hasbro include MARVEL, Power Rangers, Transformers, PlayDoh, My Little Pony, Star Wars, Sesame Street, Trolls and more. Hasbro overtook Mattel to become the world’s biggest toy company in 2017 following significant marketing spends. In 2018, the company posted global sales of US$US4.6 billion, according to reports.
InnSpire, provider of a comprehensive technology suite that helps drive a world-class guest experience for some of the world’s most iconic hotels and brands, has completed the company’s first foray into the Latin American market through a strategic partnership with leading telecommunications specialist, Nimbus Networks. The new regional reseller/distributor partnership has already resulted in Nimbus Network’s installation of InnSpire’s suite of networking and guest-facing technology in four hotel properties in Peru, which include the AC CostaVerde in Lima, the Aloft Miraflores, Westin Miraflores, and the Casa Andina Premium San Isidro.Grupo Libertador, owner of three of the four Peruvian-based properties that implemented the InnSpire solution in late 2018, cited the company’s innovation, as well as Nimbus’ solid reputation in the Latin America market as primary reasons for their decision. In addition to the successful installations at the first four Peruvian hotels, Nimbus Networks and InnSpire have plans in place to continue their expansion initiatives in the region to include properties in additional countries, with a special focus on Mexico, Argentina, and Chile.