VTEX USA will gain more power starting in the second half of 2020. According to news published by Ralphe Manzoni Jr. on the NEOFEED website , the Brazilian cloud commerce company, which already has an office there, will further strengthen its presence in that country.
Namely, the multinational VTEX currently has 15 international offices. In addition, it has more than 2,5 customers, including Disney, Coca-Cola and Sony, for example, in 28 countries. However, most of these customers were acquired in Brazil and later had their operations expanded to other places.
The problem, however, is that negotiations with large US companies and companies from other parts of the world in their countries of origin usually do not progress because VTEX is known as a Brazilian company. In this context, gaining notoriety with a powerful headquarters in New York can help the company expand more easily abroad.
Find out below some details of the VTEX plan for North America. Find out how the company also intends to reach Asia!
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VTEX USA AND ASIA PROJECT
Also according to information from the NEOFEED website, the new phase of VTEX USA will start with 40 employees. Among the employees, the company already selects a Chief Strategist Officer and a Chief Sales Officer. Both will report to CEO Mariano Gomide, who will transfer from London to New York.
The project has as parameters:
- Assembling a team of executives with experience mainly in the North American online market. Preference will be given to professionals who have already held positions in large local companies such as Oracle, for example;
- The use of part of the BRL 580 million invested in VTEX in November 2019 by the SoftBank, Constellation and Gávea to take the project forward;
- The increase of the work team from 40 to 80 employees on site in 12 months after the start of the project.
For the company's general manager in Brazil, Rafael Forte, if VTEX EUA obtains 2% to 3% market share in the region, then the multinational will be able to double its revenue, which in 2019 was R$ 250 million. Finally, after achieving relevance in the US, the goal is to try to do the same in Asia.
VTEX USA AND THE CORONA VIRUS CRISIS
VTEX executives see the Coronavirus crisis as an opportunity for e-commerce companies. In scenarios where quarantine is the order of the day, week, and month, the demand for technologies and solutions like those from VTEX may increase in North America.
In Brazil, this is already happening. According to data from Compre e Confie , there was a 40% increase in online sales in the first 15 days of March, when the Coronavirus crisis arrived in our country. Since people cannot leave their homes, the trend is for online shopping to increase.
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