Yuxus: How three teenagers managed to turn 1,000 euros into an attractive commercial project

Born from the idea of three 16-year-old friends who managed to raise the 1,000 euros they needed to launch their first batch of T-shirts, Yuxus has established itself in the retail landscape six years later with the opening of two brand corners in Spanish department store El Corte Inglés, adding to their presence in Wow Concept and Newcop.

FashionUnited wanted to delve deeper into this project by young Spanish entrepreneurs Álvaro and Guillermo Ferre and Fernando Carrillo, which aims to achieve a turnover of 11 million euros this year, a goal they are moving towards with what is their "biggest collection to date".

How did the initial idea for Yuxus come about, and how has it evolved since then?

Yuxus: The birth of the brand was spontaneous; we didn't carry out exhaustive market research or stop to analyse the viability of the project. We raised the 1,000 euros required for the first batch of T-shirts that we needed to start the business, and this got the ball rolling.

The company has scaled up by taking small but steady steps in its journey from e-commerce to physical retail. Despite starting without major investors or much experience, we managed to create a profitable business. We have gone from using our garage as a warehouse to exporting to almost twenty countries.

“At that time, we were just three restless young students eager to start a business and create something new.”

We founded the brand in 2018 when we hadn't even started university. All three of us are currently at university in fields related to business, entrepreneurship, and innovation, which has provided us with the skills to take the brand to the next level.

Beyond academic training, we are constantly trying to learn new skills, both through online courses and by attending training sessions, in addition to consulting with experts and, of course, reading. It is important to constantly learn to adapt to new technologies, capture new business opportunities, and expand our knowledge.

What projects are you currently working on, and what are your plans for the near future?

Today, we have offices located in the centre of Madrid. Our team already has over 20 employees, with a forecast of doubling that number this year. As the openings in the different physical stores that we will be opening throughout Spain in 2024 take place, in addition to the shop-in-shops at El Corte Inglés, we plan to relocate part of the team in stages to the main cities in Spain to ensure greater coverage and connect more deeply with our audience.

Along with national expansion, we are carrying out a series of investments aimed at capturing foreign audiences, with a focus on the European and North American markets. It's a risky bet given that they are very competitive economies with frequent barriers to entry, but we are confident in our marketing and are striving to internationalise the brand as much as possible.

What specific challenges are you facing when entering new markets, and how are you addressing them?

In 2023, we opened our first store on shopping street Calle Fuencarral in Madrid, and this year two more openings are planned in different Spanish cities, such as Valencia and Seville, which will add up to 10 physical points of sale that we aim to have by the end of 2024.

We are looking to connect more deeply with our audience by opening physical points of sale that allow us to improve the shopping experience, and also work hand in hand with partners in the Spanish market such as Newcop, Wow Concept, and El Corte Inglés, where we’re already present with two brand corners, one in Madrid, in La Castellana, and another in Sagasta, Zaragoza.

In terms of international expansion, Yuxus landed in Paris in April at the Newcop physical store. In addition, we are planning the first opening of our own physical store outside of Spain, for which we are considering several cities that will allow us to scale up within Europe.

Within two years, we want to have at least twenty physical points of sale between our own stores and multi-brand stores. Internationally, the goal is to achieve a share of at least 50 percent of sales generated outside of Spain to stop depending on the domestic market.

What are your expectations in terms of revenue growth for this year, and how do you plan to achieve those goals?

Since our founding, we have focused on maximising turnover rather than pursuing profit generation. Not having external investors has sometimes hindered the brand's growth; however, Yuxus managed to close 2022 with its first million euros in turnover and developed a solid base that allowed the company to scale to 3 million euros in turnover in 2023.

For this year, the target is set at a turnover of 11 million euros, which, although it may seem ambitious, we are sure we can achieve with the new brand spaces and growing foreign demand that will boost sales like never before.

Scalability is one of our main premises in the company. Above all, we work to build the foundations of a solid project for the long term, so that Yuxus can establish itself as one of the leading young fashion brands, and we are committed to taking the brand to the next level.

We are driven by our desire to create something beyond a series of products with a logo; we seek to define a movement that truly inspires new generations and with which people from all over the world can identify.

Who are your main customers, and how have you built an international community around the brand?

Our target audience is young people from all over the world. Both men and women who are looking to wear oversized and comfortable clothing made with high-quality and durable garments. Young people who are looking to dress differently, in an innovative way, express a unique style, and who aspire to the brand's values.

The brand seeks to develop a universal style and create an international community, or as we call it, an "Overseas Club". The goal is to generate impact beyond our borders to influence young people around the world and create a feeling of belonging to something that goes beyond a simple clothing brand.

With this objective in mind, we collaborate with international influencers, public figures to whom we send clothes in exchange for them uploading some content to their social networks, a way to advertise the brand.

This article was originally published on FashionUnited.ES. Translation and edit from Spanish into English by Veerle Versteeg.