Reinventing the gifting expertise: Tokki is a social and sustainable reward wrap firm based by CEO Jane Hyo-Sung Park together with Taylor Ann Holt, who serves because the CTO and COO. The 2 achieved success earlier than coming collectively on their earlier startup, Julep Magnificence, which they efficiently exited to Warburg Pincus.
Park beforehand served as an govt at Starbucks and a pacesetter on the Boston Consulting Group. She was additionally the founding director of the CEO Discussion board for Training and Expertise with others like Steve Jobs and Eckhard Pfeiffer.
Holt is a know-how chief with a status for creating partaking person experiences for numerous manufacturers. Her creativity and expertise come collectively to unravel issues, create modern options, and maintain issues working easily.
Their earlier startup, Julep Magnificence, is now distributed nationally and stands out as a disruptor within the magnificence house. Personalization and a customer-first perspective had been current at Julep and have been carried by means of to Tokki.
Tokki’s beginnings: Few individuals know the way unhealthy reward wrap is for the surroundings, however the reality is that almost all of it can’t be recycled. Due to that, greater than 4 million tons of single-use reward wrap are transported to landfills yearly, one thing Park found and wished to vary.
“Tokki embodies my perception that we will all do higher every day,” mentioned Park, who began her journey to stop local weather change beginning with the simple issues like utilizing sheets of laundry detergent and biodegradable rubbish luggage.
Park took inspiration from her grandmother in Korea, who used reusable squares of silk to wrap presents. It made her marvel how she might remodel the gifting expertise with as we speak’s digital know-how. Thus got here Tokki, which interprets to “rabbit” in Korean, a present wrap various that may “hop” from pal to pal and unfold pleasure.
Years of improvement: “We began out with a sq. of material and a magnetic band with the QR card that could possibly be used to cinch the bag collectively,” mentioned Park. Nevertheless, she rapidly discovered that the method strayed too removed from the standard gift-wrapping expertise of most Individuals. Baggage had been additionally created out of material, which proved costly and had a big carbon footprint. It wasn’t till they made luggage out of recycled water bottles that issues clicked.
The digital expertise additionally developed, going from a easy card to a complete journey exhibiting a map of the place the Tokki has traveled and a waste counter to point out how a lot waste has been saved. Furthermore, that’s solely the start of what Tokki and its founders have in retailer.
Tokki versus the competitors: Sustainability is the obvious distinction from conventional, single-use options, however Tokki additionally seeks to create a extra significant gifting expertise. Customers don’t want an app to benefit from the social expertise and may entry a web based album containing their digital playing cards whereas sending the bodily bag to the subsequent individual.
Personalization: After scanning the QR code, customers are walked by means of including distinctive media, akin to a photograph, video, or GIF. The personalised message then pops up when the recipient scans the code with out the necessity for an account or app. It permits as a lot customization or uniqueness as you possibly can think about, from movies of the grandkids to a preferred meme. Furthermore, extra personalised playing cards will be uploaded again and again and with none extra value.
Fundraising: Tokki remained self-funded till lately, when it determined to start out elevating cash by means of crowdfunding. Park defined why Tokki selected to crowdfund, saying, “We selected crowdfunding as a result of, as a client model, we had been excited to ask our clients into our firm as co-owners. We’re additionally offered in over 270 impartial boutiques, and lots of the homeowners are keen about Tokki, are serving to us construct our model consciousness, and wished to take a position.”
Making a distinction: The marketplace for reward wrap and greeting playing cards is appreciable, and in 2020, it was price $35 billion. Tokki seems to supply innovation that’s sorely missing, all whereas creating significant connections with and between clients. “it’s the ability of connection that fuels me. To me, that’s what grit is all about,” mentioned Park, and we definitely love grit round right here.
Spencer Hulse is a information desk editor at Grit Every day Information. He covers startups, affiliate, viral, and advertising information.
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