Simon-Kucher & Partners, a global consulting firm that specialises in sales & marketing consultancy, has opened a new office in Barcelona. With the latest addition, its 3rd office expansion in the past year, the German origin consulting firms expands its global footprint to 28 locations worldwide.
The new office in Spain’s second-largest city doesn't come as a surprise. Earlier this year, when the firm unveiled record profits and ambitious growth plans for 2014, Simon-Kucher announced that it was planning to expand its presence in Spain, building on the success of its Madrid office, which it opened in 2008.
The decision to enter the Barcelona market follows from three main factors, says Georg Tacke, co-CEO of Simon-Kucher & Partners. Firstly, the Spanish market is rebounding*, as a result companies are increasingly refocusing their efforts from cost cutting to growth, one of the key competencies of the consultancy. “The Spanish market shows clear signs of recovery. With our offices in Barcelona and Madrid, the country’s economic power centers, we are strong partners for our growing clients.” Secondly, the choice for the Iberian Peninsula is closely tied to the recent expansion in Brazil en Chili. “Being closely connected to Latin America’s growing markets, our strengthened presence in Spain will also drive our activities oversees.”
Thirdly, Simon-Kucher is – on the back of strong year-on-year financial performance – pursuing an aggressive global internationalisation strategy. In 2008 the firm had 14 offices globally, six years later its footprint spans 28 offices and an on-the-ground presence in 22 countries. Over the past years the firm opened new offices in among others São Paulo, Santiago de Chile, Dubai and Istanbul, and during the crisis years it strongly expanded its European presence outside home base Germany. By 2015 Simon-Kucher wants to break through the revenue barrier of €200 million.
Simon-Kucher’s Barcelona team currently consists of 10 - 15 experts, yet the firm aims to over the coming months grow in size to roughly 20 consultants. In the mid-term, Simon-Kucher plans to almost double its total amount of employees in Spain to approximately 70 professionals.
* Related article: Italian and Spanish consulting markets return to growth.