Founded in Singapore in 2019, Kotoko is a startup engaged in retail and technology that provides online and offline ecosystems for independent / Direct-to-Consumer brands in Indonesia to market their products to more consumers. The company received seed funding from Antler.
Kotoko’s Co-Founder & COO Kanta Nandana who was a former Country Manager at Luno Indonesia told DailySocial that the business idea was based on Cynthia Krisanti, the Co-Founder & CEO’s personal experience who had difficulty finding offline stores in strategic locations at affordable prices.
“This issue also happened to other friends with online businesses in Fashion & Accessories. The current solution available is to rent an offline store with a high cost and inflexible rental periods.”
For this reason, Kotoko provides a solution for independent brands in Indonesia to have offline stores in strategic locations in Indonesia at affordable prices and flexible rental terms through Kotoko multi-brand stores.
Kotoko is to rent a place in strategic commercial areas, such as shopping centers, malls, and shophouses, divide this place into several smaller areas, then rent it back to several brands, so they can share the place with other famous brands to market their products.
“The monetization strategy is to charge a monthly membership fee and a sales commission discount for brands interested to join,” Nandana said.
First brand store in Plaza Indonesia
Supported by the experience of its founders in finance, retail, and technology, Kotoko has several services that brand partners can use to improve their business, including Kotoko Multi-Brand stores, Kotoko Chapter, Kotoko Block, and Kotoko e-commerce sites.
“Kotoko’s e-commerce website can be used by consumers as long as they are inside the Kotoko offline shop to check product information, price, size, and material information using the Scan & Shop feature on mobile phones,” Nandana added.
They can also access Kotoko.shop via mobile to buy products and complete payments online (mobile payment). Products will be sent directly to the customer’s address.
“Kotoko has currently embraced Indonesian independent brands in the category of Fashion & Accessories and Food & Beverage. In the future, Kotoko targets other categories such as Health & Beauty, Household Goods and Furniture, “Nanta said.
In specific, the solution provided by the company for independent brands is claimed to increase revenue through marketing collaboration, promotion, and partnership programs. Kotoko also seeks to increase distribution and marketing channels for brand products incorporated through retailer partners.
Currently, Kotoko has curated around 60 well-known independent brands with a cumulative number of 1 million followers on Instagram. The company has opened the first multi-brand store in Plaza Indonesia and is currently preparing to expand to the first-tier cities outside Jabodetabek, such as Bandung, Surabaya, Makassar, and Bali.
“We have a fundraising target this year which we plan to use on expanding business and increasing the number of brands to join,” Nandana said.
–
Original article is in Indonesian, translated by Kristin Siagian
