Smileat and infant nutrition

Smileat was the leading organic baby food company in Spain. Founded in 2015, it had experienced steady growth, reaching €21.5 million in revenue by 2025, despite a shrinking market caused by declining birth rates. Its main competitors were Nestlé, Hero, and homemade consumption, but its organic value proposition had allowed it to build a strong market position. The company aimed to reach €50 million in revenue by 2030, with an EBITDA of 15%.
How could it achieve this? Its executives were debating whether to remain focused on the baby segment, expand into children aged 3 to 9, or even enter growing markets such as the elderly and pets. Continuity or disruption?