Betterware De Mexico SAB De CV BWMX went public via the special purpose acquisition company DD3 Acquisition Corp DDMX in March 2020 and became the first Mexican company directly listed on the Nasdaq.
The father-and-son team of Executive Chairman Luis Campos and Betterware De Mexico CEO Andres Campos appeared on Benzinga's YouTube show "SPACs Attack" for an exclusive interview Tuesday.
Betterware De Mexico is a direct-to-consumer company in Mexico focused on the home organization and solutions segment.
Betterware De Mexico Growth: The SPAC process is an innovative and efficient route to the public markets that allowed the company to gain access to growth capital, Luis told Benzinga.
Betterware De Mexico has shown consistent growth over the last 20 years, he said, adding that the company's multiple growth avenues will allow it to continue to scale moving forward.
Betterware De Mexico is already reaching 20% of the households in Mexico and aims to reach 40% of households over the next five years, the company's executive chairman said.
The company plans to continue to expand internationally, he said, adding that Betterware De Mexico already proved its ability to replicate its business model in "culturally similar" countries.
The Two-Tier Model: Betterware De Mexico launches more than 300 new products each year, Andres told Benzinga, adding that all of its products are designed in-house.
The company has caused disruption of the direct-to-consumer business model through its two-tier distribution model, the CEO said.
The first tier is made up of distributors who target associates, Andres said. The associates represent the second tier and sell to the consumer. The company has more than 65,000 distributors and 1.3 million associates, he said.
The GuruComm Acquisition: Betterware De Mexico acquired 60% of GuruComm on March 22. GuruComm will operate as Betterware Connect and launch technology based solutions in multiple product segments.
The company plans to offer mobile and internet solutions to its associates and distributors through Betterware Connect, Andres told Benzinga.
Betterware De Mexico also plans to expand into home technology solutions through the GuruComm acquisition, he said.
BWMX Price Action: Betterware De Mexico has traded as high as $49.36 and as low as $8 over a 52-week period.
The stock lost 0.16% Tuesday, closing at $43.36.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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