Will this strategy work ?

You forgot to blur the domain name in one of your images, so I checked it and I can't find that footer that interlinks everything. I know Semrush still reports valid backlinks, but as of today, I can't see the footer as you described it.

Nevertheless, it's an interesting take on localized seo via the same domain or different domains.

If you check the trends on Semrush, I would say it's NOT working well.
 
It's a multilingual websites with multiples domains.. Nothing special here.

in my opinion, it's not the reason why it has good ranks and trafic.

You must check the refereing domains, ordered by DR, they will be the reason why this site has good rankings. and they will probably be sites not managed by this brand..
 
You forgot to blur the domain name in one of your images, so I checked it and I can't find that footer that interlinks everything. I know Semrush still reports valid backlinks, but as of today, I can't see the footer as you described it.

Nevertheless, it's an interesting take on localized seo via the same domain or different domains.

If you check the trends on Semrush, I would say it's NOT working well.

It's above the footer, "International" section, you need to expand it to see all the lins. When I saw those backlinks in Semrush I thought it's weird that they are not visible in the website. But you need to expand the "+International" section there, it's not very easy to find.

For the image, I will remove it, I don't want someone to ruin these guys work.
 
A creative approach, but doesn't it require too much time and effort?
Yes, I think that's where the hard part is. You definitely need a team to do this. At some point in any business, you need to learn how to start a team and manage it to go to the next level.
 
Having tried it out for customers, this technique works very well! (At least for classic e-commerce).

You target your "national" backlinks on your national TLDs and the results are top-notch, at least for me.
 
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