RewardStyle is rebranding to LTK, the acronym for its fashionable procuring app, previously referred to as Liketoknow.it.
The rebrand comes as the corporate celebrates 10 years in the marketplace and a banner yr in gross sales. Last yr, LTK reached $2.8 billion in influencer-driven purchases, with $1 billion value of product bought within the first half of 2020.
“LTK is candidly what our clients have called us,” stated Amber Venz Box, LTK’s cofounder and president. “It was a slang name, and we felt we could adopt that to simplify.”
LTK’s rebrand is supposed to make the corporate, which consists of each an influencer platform and procuring app, seem extra unified to purchasers because it enters a interval of enlargement. Already it has surpassed 100 hires in 2021, all of whom are working remotely, with plans for worldwide development later this yr.
“That’s not on the back of any sort of raise, that’s all self-funded,” Venz Box stated of the brand new hires.
Many of the brand new hires will be part of LTK’s product and engineering crew, which accounts for almost all of the corporate’s 350 workers. That crew is tasked with materializing Venz Box’s imaginative and prescient for LTK to be what she known as “Shopify for creators.”
“The business has been in a really great place and we want to invest in the future,” Venz Box stated. “Part of what we think that future looks like is for creators to have and own their own world-class shop. As part of this hiring, we’re building out a vision for essentially being the Shopify for creators — building a world-class e-commerce platform that allows [creators] to bring customers into their store for the customers to discover, gain confidence in the purchase, find out everything they need to know and ultimately, transact there.”
Creators won’t “have to hold any sort of inventory, they will ship no boxes,” Venz Box stated. “They will be able to host an e-commerce experience where they own their customer [and] traffic and are still in partnership with brands available on LTK.”
LTK counts greater than 100,000 creators in additional than 100 international locations, together with the United Kingdom, Germany, France, Australia, China, South Korea and Brazil. It is closely investing in expertise that can permit its creators to make their current content material extra simply searchable and, thus, shoppable.
“How are [creators] going to continue to build out in a way that takes them less time to do the things that they’re doing,” Venz Box stated.
Last yr LTK rolled out a cloud-based model portal meant to permit the corporate’s highest-spending retail companions to watch influencer campaigns in actual time. LTK is now testing a self-service platform for manufacturers with budgets of all sizes.
“Brands can come in and use these enterprise tools on their own to cast, price and execute their own campaigns,” Venz Box stated. “We just had our beta test, and now, over the next two months, we’re rolling it out to the entire network.”
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