INNOV8 Iberia is a specialist distributor of consumer technology products for the Spanish and Portuguese retail markets. CEO, Manuel Hassig, recently took part in the Buyer Insider Sessions and provided the audience with an overview of the INNOV8 business, considerations for startups plus products of interest heading into 2023.
INNOV8 has been operating for 32 years, and has developed strong relationships with the major retailers in Spain and Portugal. The Barcelona based company distributes products to all retail channels including telecom stores, mass merchants, department stores and DIY outlets. The Iberian distributor also serves a number of online retailers including amazon and groupon.
INNOV8 has two own brand product lines - muvit (mobile accessories) and muvit iO (smart home). INNOV8 focuses on the main distribution services such as logistics and finances, while looking to the vendor partners to drive core marketing activities and strategies.
Portfolio & Products of Interest
INNOV8’s product portfolio is focused on three categories: mobile accessories, audio and smart / IoT devices. Brands carried include Apple, Google, Jabra, nanoleaf, Samsung and Urbanista.
Hassig highlighted that his purchasing team is actively looking for new brands and products to complement their existing lines. Health, sport and wellness products are of particular interest with connected devices representing the 2nd biggest market (revenue) for INNOV8.
The accessories category is already well represented but there is interest in products with a strong eco / green message. Hassig pointed out that INNOV8 prefers to establish exclusive partnerships with the brands they take on board.
Insights into the Iberian Market
Hassig shared a few helpful trends for vendors considering the Iberian retail market.
Many retailers like to test out products online. Before committing, a retailer will often test the brand and product via their online stores, before moving on to select stores in Barcelona and Madrid. If the sales out trend is positive, the retailer will start a wider roll out across its network.
It can be hard to predict the market response. Hassig advised vendors to conduct some level of research and test consumer appetite to get a sense of market potential. One example is air purifiers, a product that has been popular in other countries but has not seen the same level of appeal in Spain. Hassig also highlighted that there tends to be a lot of movement in purchasing teams at retail level which can add some complications for vendors.
INNOV8 is happy to engage with startups but it’s important for them to understand the level of margins involved when it comes to retail as well as other requirements around packaging and certifications.
The full interview is available to Vendor ChannelHub members only via their online account. If you are a vendor and would like to access the Buyer Insider Sessions, register now for your free ChannelHub membership.