The Portuguese company, Topbrands will be investing 6 million Euros for construction of their new facilities. This construction will be done in Montijo, and it will be divided into 4 phases. This is why Topbrands invest €6 Million for 4 phases and each phase will have its milestone.
Topbrands To Invest 6 Million Euros In Construction
Topbrands has decided that it will invest in making their new facilities in Montijo. This project will create 50 new jobs in the region. This is a great opportunity for increasing revenue within the area.
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The estimated goal is to create a new area of 12,000 square meters. This new facility will be more efficient and will have 1500 square meters of the total Topbrands facilities. It is noted that a 700 % increase will be achieved after the completion of this project. The total production area of the facility will increase from 500 square meters to a total of 2000 square meters.
The Portuguese company makes around 5000 products. It main domain is to produce products that are related to the current season of the year. This can be ranging from toys to home products or from decorations for birthdays to furniture. All these items are present in all the retail chains of the company. The company has decided to complete this project in 4 phases. The duration of this project is for 5 years.
Topbrands has decided to start their first phase in this year. This phase is targeted to be completed by the end of next summers. They can then move onto the new structure which will start in 2024. This project is a big project, and it will mark the growth of the company even more than before. The aim for the company is to promote the growth of toys, barbecue and other outdoor activities. This project will provide sustainability as well as innovation.
Topbrand Will Create 50 More Jobs
It is estimated that the Portuguese company has around 35 employees. The company has decided to create 50 more jobs as they are moving from Moita to Montijo which is located in the Setúbal district. These jobs will be available in various areas that are in vicinity of the new facilities. These jobs will be related to Operations, Product Management, software and quality management. This will expand the team to strength of 85 employees.
This Portuguese company had a great turnover at the start of the year. It made around 3 million Euros and the company is still looking to end the year with 10 million Euros. The total turnover in the year 2023 for Topbrand was around 6.9 million Euros. The total goal of the company according to the CEO is to reach around 20 million Euros by the end of the year 2026.
The Portuguese company is currently well established in Angola. It aims to start their outlets in the Polish markets as well. It may further aim to construct other facilities in some countries. This will expand their business and growth of the company. Topbrands might enter the market of other countries like France, Germany, Morocco, Belgium, Cyprus, Netherlands and Mozambique in the near future. The company aims to further grow in many other countries and will boom in the future as well.
Topbrands has products in almost every aspect and the Portuguese company is looking to grow more. It will launch new products in the coming years. The construction of the new facilities was placed because the production of the company has been increased in the last few years.
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