Planning For Brand Expansion
The growth of any brand will plateau if it is successful with its initial product range in its region of origin. Further growth must come from expanding the product range, extending geographically, or both. Before scaling your brand, the business fundamentals need to be in place. Investors seem keen to fund technology-based brands even if they have never made a profit, but this isn’t wise. According to Cyrine Ben-Hafaïedh and Anaïs Hamelin (2022), profit-focused brands...