In Conversation With…Ankorstore

Above: Ankorstore’s UK head office. Below: Jina Kwon heads up Ankorstore’s UK operation.

Two years ago Ankorstore didn’t exist. Now, the fast-growing B2B online marketplace platform, which achieved unicorn status a few months ago (being valued at over $1 billion), has links with 250,000 independent retailers and 200,000 brands in 33 countries across Europe. Ahead of PG Live, at which Ankorstore is sponsoring the lunchroom and opening night party, PG caught up with Jina Retail Kwon, its UK country manager to find out more about a unicorn that is no mythical figure.

Rewilding?

It is fitting that Ankorstore UK is based in Work Space, a flashy new set up on London’s Euston Road. Just as Work Space’s ‘private office memberships’ vision is to offers flexible working facilities, with like-minded businesses sharing the design-led communal areas, breakout lounges, roof terrace, gym and top end coffee shop, the antidote to a traditional ‘company name above the door’ HQ, so Ankorstore is among those who are shaking up the ways of looking at how independent retailers do business with brands and vice versa.

Having started in France, founded by a handful of ecommerce entrepreneurs, with the backing of £300 million+ of investments, Ankorstore has grown like topsy, including in the UK. It is not the only B2B marketplace active in the UK by any means, but as Faire (a major competitor) has expanded here from its strong US base, Ankorstore has expanded from its stronghold in mainland Europe. With a pedigree in online marketplaces (including five years at Groupon right at its start, as well as working for three other platforms in other sectors) Jina Kwon, immediately saw the potential of Ankorstore and was keen to be part of its expansion in the UK. “I joined Ankorstore in June 2021. There were only three of us here back then, but we have grown very quickly. Between last July and September alone we employed another 50 people, to ensure we had a strong sales and account management team,” explained Jina. To her mind, the whole independent retailer/wholesaler way of working “has not changed for years”. While Jina fully accepts the value of face to face interaction, be it through meeting at trade shows, showrooms or by visits from reps and agents, she stresses that this means so many other opportunities are being missed. “If you are an independent retailer based in the Outer Hebrides for example it can be difficult to get to those trade shows or for reps to visit you. Likewise, if you are a little company starting out making beautiful stationery it is not easy to grow your business, to expand your retail

Brand reset

Things move fast in the online world, and so at the end of April, less than two years after its launch, Ankorstore unveiled a rebranding, complete with an ambitious tagline of ‘Rewild Retail’ “To reflect our new identity, we felt compelled to find a new way to articulate the heart of our mission. We found two words that epitomise our mission and who we are as a company: Rewild Retail. The concept is simple – to restore the natural order and beauty of an ecosystem that is broken so that everyone in it can thrive again,” stated Nicola D’Audiffret, co-ceo and co-founder of Ankorstore.

base not just in the UK but overseas. It is Ankorstore’s mission to put independent retailers together with companies and vice versa, for their mutual benefit,” says Jina, explaining Ankorstore in a nutshell.

Its compelling offer for both sides, of alluring opening offers, free shipping, £100 miminum order, payment terms of 60 days, no set up costs, as well as a reward programme for retailers when they buy from multiple brands has seen 30,000 independent retailers in the UK alone sign up already.

A whirl for Meg

Meg Hawkins is one of the 40+ exhibitors at PG Live 2022 who are active on the Ankorstore platform. Founder and company namesake Meg and her husband Adrian and daughter Coral, who also works in the greeting card, gift and homewares business, explain more.

“We have been on Ankorstore since October 2021. The move was prompted due to the lack of trade shows over the preceding two years as a result of the pandemic so we thought it was worth giving it a whirl to see if we get our brand out there a bit more as well in the UK as well as to hopefully expand into Europe. And we are glad we did,” Meg exclaimed. “Having agents in the UK is great if you have them. We only have three so there is a lot of the UK alone that we weren’t covering through that route and at the same time our homegrown product portfolio was expanding as well as through licensing,” adds Meg to set the scene. Starting cautiously, the company launched on Ankorstore with 30 products, but this has now doubled to 60 skus across its portfolio. “Due to the guaranteed turnaround, we had to make sure we had plenty of those items in stock so our initial mix included greeting cards, notebooks, biscuits, chocolate, lipbalms and aprons which gave a taster of what we do and could tell a story instore,” Coral elaborated. As well as expanding its product selection on Ankorstore, the company has also participated in the Brand Accelerator Programme, successfully introducing new retailers to the platform (who in turn are given £300 to spend on Ankorstore), the Meg Hawkins brand is highlighted on a What’s New section introducing the company to retailers they have never dealt with. “We received 11 orders in 48 hours, including many from Europe, which delighted us,” said Meg. “Having a shop ourselves, exhibiting at trade shows, such as PG Live as well as showing at several consumer events, we really value face to face interaction as that is what brings your brand alive, but we cannot be everywhere or see everyone. Would have been unlikely to have clinched those sales in Switzerland, France, Poland or Germany without Ankorstore,” believes Meg. While both Meg and Coral accept that there are some situations that do need to be worked through, such as conversations with agents about how to deal with their commission if existing customers order via the platform, they both agree that having a presence on Ankorstore has and is helping their business. “There will always be some scepticism about new ways of working, but you need to be open to new ideas, find out about them and give them a try. As we see it, participating on Ankorstore will not replace our face to face experiences, but will add to them in a different way. In the meantime though, we are so looking forward to catching up with everyone at PG Live!”

“Our objective is not about displacing the face to face, but is all about discovery. We want independent retailers to find new brands and companies to add to their selection as well as provide brands with the opportunity to grow with retailers they may never have known about,” assures Jina.

Ankorstore will be joining the face to face interaction at PG Live (June 7-8), as it is sponsoring the lunchroom and opening night party. And this follows on from its

Left: One of the visuals used to promote the recent rebranding of the platform. Far left: At the UK Gift Awards at which Jina Kwon (right) presented a Gift of the Year trophy for Best Beauty, Bath & Spa Product or Range to Kathy Chillistone, founder and owner of Chilliwinter for its Remedial Aromatherapy Candle Collection.

sponsorship support of the UK Gift Awards last month, at which the winners of The Greats gift retailer awards and Gift of the Year awards were presented. “We are delighted to support PG Live and the UK Gift Awards, and be a part of the industry,” says Jina. Looking at the list of PG Live’s 200 exhibitors, over 40 companies are already active on Ankorstore. “Greeting cards and stationery is a very important sector for us. In fact, so much so, that while it started out as part of our Home & Living section, it is now treated as a its own category with a dedicated category manager,” elaborates Jina. “I really believe that we can make a real difference to improving business and realising opportunities for both card publishers and independent retailers on this ongoing journey of discovery,” she adds.

Above: A trio of Meg Hawkins chocolate bars that feature her distinctive art. Below: (right-left) Meg and Coral Hawkins with Brenda Anthony, Ankorstore’s UK brand development manager at the recent UK Gift Awards.