The startup of edutech launches the storyteller in the Spanish and Portuguese-speaking markets.
FABA, the Treviso-based startup born from the spin-off of Maikii and active in the edutech sector with the homonymous storyteller, has launched an impressive growth plan that consolidates its presence in Italy and aims to establish leadership in the markets foreign thanks also to a program to strengthen the workforce.
"We launched our storyteller and Sound Characters in 2019, when FABA was within Maiiki, and the numbers proved us right: FABA generated revenues of 3.8 million euros and is present in 65,000 families, which - according to data collected on the most authoritative review platforms - they consider it an exceptional product - explains Matteo Fabbrini, Co-founder and CEO of FABA -. Now we are working on the big leap: an expansion project that will lead us, already this autumn, to strengthen ourselves in Italy and in the French-speaking countries, to establish our leadership in the Spanish-speaking markets, and then to arrive at the Spanish-speaking ones. Portuguese in 2023. Our goal is to become the reference brand in educational entertainment for children ”. Internationalization and staff growth are fundamental steps in the corporate strategy, which aims to lead the startup to increase its turnover tenfold by 2024, with a consolidated presence in 10 countries. To do all this we are looking for new talents”.
At the same time, in 2023 FABA will evolve to become a real ecosystem with a rich, diversified and always new offer of contents, suitable for children from 0 to 10 years. FABA was created to prevent the abuse of technology, stimulate the imagination and imagination by educating listening with varied content and suitable for different age groups.
If Italy remains to this day the reference market, from which the greatest growth is expected thanks also to the presence of FABA in 450 independent stores and 300 chain stores, the strategy for the near future focuses strongly on abroad. “The strategy is to consolidate sales in the markets in which we are present, activating new customers and retaining existing ones with the new Sound Characters - explains Fabbrini. This is combined with the launch into new markets according to strategies developed ad hoc for each country”.
FABA is already present in 6 French-speaking countries as well as Italian: France, Belgium, French and Italian Switzerland, Luxembourg and Morocco. From September 2022 the Italian storyteller will arrive in Spain, which will be followed - at the beginning of 2023 - by all the Spanish-speaking countries of Latin America and then by the Portuguese-speaking countries, Portugal and Brazil.
" In each of these countries we aim to position ourselves as a leading brand in the edutainment market with our products, aiming to enter every family with the storyteller and the diversified offer of our catalog that includes educational content but also stories and songs, consolidating ourselves in each market with a business model that involves recursive purchase thanks to the release of new content every month suitable for different ages - adds Fabbrini.
The entry into foreign countries follows a careful evaluation of each market, with its trends, competitors and an analysis of the demand, with the needs of children and parents, carried out with partners of international caliber. "If in France audio books and related products are already known and we are focusing on a tailor made differentiation strategy, in Spain it is all to be built, we are faced with a market to be opened as happened in Italy".