The dream: 7000 designers
Shen, a 27-year-old National Taiwan Normal University fine arts graduate, founded Studio inBlooom with two friends in 2008 after being awarded NT$350,000 through the Ministry of Education’s U-Start New Graduates Startup Program. After starting out selling to small stores, the company later got their products into Eslite Bookstores, gradually building word of mouth. In February 2011, they rented a storefront on Taipei City’s Dihua Street, and the team all quit their day jobs to focus on the growing business.
The design industry is one requiring many specialist skills, as Shen explains, requiring not only someone to handle the actual design work, but also people to focus on production and sales. “Most of the design-oriented websites in Taiwan right now haven’t really focused on building a sales platform, creating a niche that Pinkoi fills perfectly.”
Pinkoi has also taken a different tack to other online platforms in terms of commissions and fees, charging no listing fees and sending 90% of each transaction to the designer. They’ve also partnered with convenience stores to make it easier for customers to collect their purchases. To Shen, the decision to allow designers to enjoy more of the profits has helped create a virtuous circle between designers and customers, as well as making Pinkoi unique in Taiwan.
Peter Yen believes that with Taiwan’s design industry still in its early stages and so many designers devoting their spare time to their beloved design work, a website like Pinkoi will be able to connect more and more local designers with the global market—already some 20% of Pinkoi’s business comes from abroad. He also hopes that through such opportunities, they will be able to help more and more designers make a living off their design work.
Connecting Asian designers
In just three short years, Pinkoi has grown rapidly, with over 7000 designers already signed up.
“I never realized there were so many designers and so many brands in Taiwan!” says Yen, sharing the common response to explanations of his work. But the impressive numbers don’t end there! Every day, Pinkoi also sees an average of 30 brands apply for listing on the site.
With over 1000 brands already on the site, Yen has begun thinking about the next step: connecting brands together.
To that end, Pinkoi organizes regular design seminars, teaching designers how to write better copy for and take better photos of their products, as well as suggesting accessory brands to pair with new seasons’ clothing designs. Such sharing of knowledge is already boosting brands’ effectiveness.
Having started out focused on Taiwan, Yen is already looking to the wider Asian design market, aiming to connect designers not only in Taiwan, but also in Thailand, Japan, and China. The first step toward this is helping Taiwanese designers expand their reach beyond their own shores, and already Pinkoi is seeing success in this regard—when the Taiwan Design Center recommended 17 brands last year for inclusion in a design exhibition in Hong Kong, 11 of them were brands working with Pinkoi.
Yen has already done his homework on the global online design platform space. He points to the surprising growth of Etsy, which launched in New York in 2005 and has become the world’s biggest crafts sales website with over 25 million members and 18 million items; already Etsy has helped thousands and thousands of designers realize their dreams of making a living off their love, and the site itself made a whopping US$890 million in 2012. Pinkoi hopes to follow suit and become Asia’s number-one site for one-of-a-kind handicrafts.
After three years of work, today Pinkoi enjoys monthly operating revenues of at least NT$1 million, and currently the team is working on the next step toward becoming Asia’s number one, an English-language version of the website.
Through action and passion, Yen and his team have created a nourishing garden for Taiwanese design to grow and bloom in, and with continued care of these seedlings, Pinkoi promises to dazzle and delight well into the future.