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Posted 9 Outubro, 2024 In Companies, News
The Portuguese educational toys company Science4you has opened an office in Los Angeles, in the United States, a market where it already has toys on sale at the e-commerce giant Amazon.
After Madrid and London, it is the company’s third overseas office. With a turnover of around €10 million, the international market represents 70% of its sales.
“We had been working in the United States of America from Portugal, but the growing interest of operators led us to reinforce our commitment in the US by opening a representative office and showroom in Los Angeles, with a dedicated team in partnership with a local company,” says Miguel Pina Martins, Chairman of Science4You, in a statement to the online news source ECO.
And added: “Our goal is to deepen the relationship with the retailers we already work with, such as Amazon USA, but also to reach new retailers, both physical and online, bringing our products to a growing number of people,” continues the manager who, in September, took over as chairman of the company he founded, with Filipe Ramos, until then head of sales, taking over as CEO.
Since November 2022, Science4You has had a new shareholder structure with the entry of Atena Equity Partners, through the Atena II fund, into the company’s capital. The private equity management company also headed a capital injection of €11 million into the company.
With products on sale in more than 50 countries, including Spain, Germany, the United Kingdom and France, Science4you exports 70% of its sales. “The opening of the office in the United States should contribute to reinforcing the weight of international business,” says Miguel Pina Martins, without specifying amounts.
In the first half of 2024, the company posted an increase of about 30% in sales. With more than 100 employees, the company has an annual turnover of about €10 million, according to data shared by the company.