Development in the United States
If Tiwal already had a subsidiary in the United States since 2014, it was only a legal structure intended to facilitate the study and the discovery of the overseas market for its inflatable dinghy. The company now wants to move to phase 2 in a promising market, where already about fifty Tiwal 3.2 sails without any local commercial action.
Replicate a successful model
Tiwal will first recruit a salesperson and a webmarketing manager locally. Based in Florida, they will be in charge of developing the brand by applying the recipes that have worked in France. The team will organize a tour of the beaches and events around the yacht. It will also be present on social networks.
The establishment in Florida is strategic for several markets, this one being at the same time a holiday destination for all the Americans and a stopover of superyachts, on which Tiwal is a toy appreciated for its compactness.
700 000 € to get started
Tiwal launches a crowdfunding campaign on Proximea, the subsidiary of Banque Populaire Atlantique, to obtain 500 000 €. Newfund, an early investor, adds 200 000 € to the project. All of these funds are dedicated to the first phase of implementation in the United States.
The choice of financing method may surprise a company whose rapid growth, with a turnover multiplied by 8 in 4 years, is enough to attract large investors. However, Marion Excoffon, founder of Tiwal, justifies it by her will to keep control over the company and not to go too fast.
A lever for growth
The United States should prove to be a strong growth lever. Marion Excoffon specifies that Tiwal wishes to pass from 1 M € of turnover this year, to 10 M € within 5 years. The American market will therefore be crucial.