After going public, Brazil’s Multilaser expands into Latin America and beyond
RIO DE JANEIRO, BRAZIL – The São Paulo-based electronics company Multilaser, which went public in July, is looking to expand its partnerships with multinational companies and bring its products to other Latin American and Portuguese-speaking countries.
Multilaser says it holds 65% of the USB flash drive market, 39% of memory cards in Brazil, and also manufactures smartphones, notebooks, and computer accessories for sports and health, as well as audio and video equipment, electronic security, and toys, among others.
Following its IPO in July, which raised R$1.9 billion (about US$370 million), Multilaser now plans to extend its internationalization and expand its factories in Extrema (MG) and Manaus (AM), as well as build a plastic ejector factory for the production of electrical appliances in Brazil.
Last year, the company began selling its products outside Brazil. The first countries to receive its merchandise were Uruguay and Argentina.
“We have hired a team for this process and are looking for distributors in Mexico, Bolivia, Chile, Portugal, and Angola. We want a regional presence in Latin America and Portuguese-speaking countries,” Alexandre Ostrowiecki said in an interview with Exame newspaper.
The company’s distribution strategy will be mixed in this international expansion and will include both exports of products manufactured in Brazil and imports directly from Asia to the new markets.
The company plans to attract international partnerships to manufacture and distribute products in the Brazilian market, where it already has similar alliances with HDM Global (Nokia), Sony, Rapoo, and Toshiba.
In addition to the electronics segment, Multilaser also has a presence in other areas such as the pet market. In June, the company bought Expet, which makes hygiene carpets, to strengthen its presence in this market, where it already has its own products.
“For seven years, we have had a range of products for babies. Recently, we’ve noticed that people have more pets and fewer babies. And pets are treated similarly to a baby. So we realized how important it is to be in this market,” the CEO explains.
After going public, Multilaser reported a profit of R$202.3 million, representing an annual growth of 122.9% after its first financial statement. In this six-month period, profits increased 376.2% to R$395.9 million.
Multilaser are manufacturers and marketers of tablets, media players, GPS, pen drives, computer accessories, games, smartphones, sporting goods, audio, and video, with greater highlights for computer accessories, smartphones, and tablets. Its headquarters are located in São Paulo, and its industrial complex is located in Extrema, Minas Gerais.
It employs more than 2,500 employees and 40 engineers divided into laboratories in Brazil and Asia.
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