Sivantos invests in its biggest franchise to enter Brazilian retail market

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Sivantos reveals its ambitious strategy in Brazil

Vertical integration

At the beginning of March, Sivantos Soluções Auditivas Ltda announced its arrival as an investor in Comunicare Aparelhos Auditivos.

The company currently boasts 15 stores in three states (Rio Grande do Sul, Santa Catarina and Rio de Janeiro). According to the firm's director, Patricia Coradini, it enjoyed turnover growth of 30% and 25% respectively in the last two years.

Through this operation, Sivantos aims to increase its activity in the national market. "In the next three years, we are going to help Comunicare move on to having from 25 to 30 stores, in other words double the number it currently possesses," explains Luiz Eringer, Sivantos CEO in Brazil. The company declined to reveal in which states it plans to work the expansion, but it guarantees it will not be creating conflicts with other Sivantos associates in the country.

Despite the economic difficulties currently facing Brazil, "the retail market for hearing devices has enjoyed exponential growth over recent years, so we are setting challenging growth targets," underlines the Sivantos press release.

Until now, the company has worked exclusively in product importation and distribution. With this investment, Sivantos moves into the retail market - although Comunicare will remain under independent management - thus following the worldwide trend among producers aiming to increase their market share. "Sivantos' goal is to become a world marketplace leader - and this includes Brazil - in three to five years," declared Luiz Eringer.

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Stéphane Davoine, editor in chief of Audiology Infos Brazil

Photo: Sivantos