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Invest in SOKO

Social impact jewelry brand and manufacturing platform for artisans in Kenya

Pitch Video
Investor Panel

Highlights

1
🔥 Revenue of $13.4M from 2014 - 2020; Online growth +50% in 2020, +88% YTD.
2
✅ Mobile-tech manufacturing platform connecting 2,300 independent artisans to the global market.
3
🙌 Artisans working with SOKO earn 5X more, impacting 11,600 beneficiaries.
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🛍️ Featured in Elle, Marie Claire, Oprah Magazine, Instyle and Worn by Michelle Obama!
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💰 Raised $3.7M during 2019-2020 Series A fundraise.
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🚀 Customer Lifetime Value of $194+; 45,000+ Customers; 18% Repeat Customer Rate.
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📰 Last summer, US retail jewelry sales grew by $1 billion year over year according to Coresight Research.

Our Team

The artisan craft industry is the second-largest employer in the developing world, often addressed through charitable endeavors which are not scalable. Artisans face barriers entering the global market due to a lack of financial infrastructure which is keeping artisans trapped in poverty. SOKO created a business model where everyone wins.

WE CAN CHANGE THE CYCLE OF POVERTY


SOKO is a women-led, ethical jewelry brand and tech-powered manufacturing platform built to connect artisan communities in Kenya with the global market worldwide. 

We use mobile technology to connect marginalized Kenyan artisans, directly to new customers globally. Unlike centralized factory production, we are using technology to support and enable the human workforce. In doing so, we’ve created an efficient “virtual factory”.

BRAND ORIGIN

Handcrafted, heritage techniques to modern styling.
Handcrafted, heritage techniques to modern styling.

SOKO was started by 3 ambitious women determined to make a difference. With diverse backgrounds, each contributed their skill sets towards a singular goal: to uplift the artisan community in Kenya by sharing their localized craft with a global audience.

The tenets of our origin story remain true. We’re inspired by powerful women who cease to be defined by the status quo. Through exploration of form, materiality and artisan techniques, we create jewelry collections with evolved classics and subtle statements to celebrate uninhibited self-expression.

ECONOMIC EMPOWERMENT IS THE KEY TO LASTING CHANGE

Drone footage from Kibera, the largest slum in Africa, located outside of Nairobi, Kenya, where most of our artisan partners live and work.
Wilkister, skilled artisan and SOKO partner since 2015.
Wilkister, skilled artisan and SOKO partner since 2015.


The artisan craft industry is the second-largest employer in the developing world, yet also one of the most marginalized. This issue is often addressed through charitable organizations which does not lead to long-term, lasting change.

Most production takes place in small, informal workshops. Due to limited local sales and lack of financial infrastructure, millions of talented artisans are trapped in poverty, unable to earn enough to support their families.

By holistically developing new systems and infrastructures, we can tackle the barriers that artisans face and bring more income to our partners in the community.


THE SOKO MODEL: A Human-Powered Virtual Factory

Our proprietary supply chain technology transforms the mobile phone into a powerful scalable business tool, which we call a ‘virtual factory’.

Our virtual factory standardizes manufacturing to ensure quality and provides artisan leaders with tools, resources and innovative ways to preserve heritage techniques. From product specs to payment, news and information, training, and asset financing, workshop operations are automated in the mobile application.

By leveraging technology, we can scale artisan production of handcrafted jewelry. This is a new approach to manufacturing — one that disrupts large-scale factory production models.

Through this virtual factory, we’ve created a supply chain that empowers artisans in underserved communities to sustainably utilize and improve skills while managing and growing their business.


USING TECHNOLOGY TO ENABLE THE HUMAN WORKFORCE

One of SOKO’s artisan partners, Onesmus Ngao, reviews his work order on our proprietary mobile app.
One of SOKO’s artisan partners, Onesmus Ngao, reviews his work order on our proprietary mobile app.

SOKO connects over 2300 independent artisans, supporting their work to create modern, handcrafted jewelry and share it with the world by bringing it to the global market.

With an integrated approach to product delivery, we have reduced inefficiencies, waste and costs, while addressing relevant fashion trends. In 2020, we improved our supply chain efficiency, reducing our order to product delivery time by 50%. The flexibility of our production model caters to a single e-commerce order or brand purchasing large quantities.

Unlike centralized factory production, we are using technology to support and enable the human workforce. We have transformed the mobile phone into a tool enabling artisans in underserved communities to reach international markets.

Our mobile app allows artisans to support themselves, their families and communities, as well as, invest in their futures.
Our mobile app allows artisans to support themselves, their families and communities, as well as, invest in their futures.

Greater access creates the potential for more income, which allows artisans to support themselves, their families and communities, as well as, invest in their future with education, equipment, livestock and land. This support has the potential to change the cycle of poverty— to change lives and change the world.


PRESS HIGHLIGHTS

SUCCESS TO DATE

SOKO customers are the reason for our success. With a socially conscious approach, our community’s values closely align with our own. This is an opportunity to invest in a brand and mission that you believe in.

From 2014-2020, we've generated $13.4M in revenue. We’ve learned a lot about our business in the past year. Just 3 years ago, online retail represented 24% of our business; prior to 2018, we were largely dependent on wholesale. 

We partnered with key digital fashion market leaders like Nordstrom.com, Shopbop, NeimanMarcus.com, Revolve, Madewell and Anthropologie, to name a few.

 Today, online retail has grown to 70% of the business. Based on this success, we shifted our efforts to an online retail strategy and Q1 2021 revenues are up 162%.

*The above slide contains forward-looking projections that are not guaranteed.

We’ve made significant headway in understanding our target audience and how to best reach our customers. We’ve worked hard on diversifying our acquisition strategy and are actively engaging with customers at all points of the funnel. As a result, we’ve seen great success reducing our Cost of Acquisition and improvements in our Customer Lifetime Value.

Joyce Akoth, one of SOKO’s artisan partners since 2017.
Joyce Akoth, one of SOKO’s artisan partners since 2017.

We've grown our email list by almost 150% with a total list size of 130,000+ email and SMS. 

And our work with influencers has increased our social following.

Our current CLV is $194 and increasing
Our current CAC is $58 down -17%


OUR BOARD

With an impressive array of experience, our current investors and board members actively serve as involved and supportive mentors.


THE OPPORTUNITY

Now more than ever, Millenial and Gen Z consumers are choosing mission driven brands that value sustainability and social impact — and both are inextricably built into our DNA. According to Accenture, 45% of consumers said they’re making more sustainable choices when shopping and will likely continue to do so. In December, this figure rose to 66%. 

The global fashion jewelry industry is projected to grow at 15% annually through 2025 to $39B+ and SOKO is poised for success in this growing market.


OUR FUTURE IS BRIGHT

We want you to be a part of our growth! 

Your investment will help us:

  • Ensure our artisan partners continue to receive the highest-level of support to maintain, grow and positively impact their businesses.
  • Improve visibility through a refined paid and social media strategy.
  • Build a loyal community through a Loyalty and Brand Ambassador Program.
  • Add inventory to support the rapid growth of our digital marketplaces.


WE CAN MAKE AN IMPACT TOGETHER

As a certified B-Corp, we strategically balance purpose with profit.​ By leveraging the power of business for maximum positive impact, we can build a more inclusive and sustainable economy to help solve the social and environmental challenges our world faces today.

We continue to work towards reducing inequality and poverty, building a healthier environment, stronger communities through the creation of high-quality jobs with dignity and purpose because financial inclusion and economic sovereignty are the keys to lasting impact and change.

We’re paving the way for higher standards that benefit all stakeholders - our artisan partners, their communities, our team that passionately works together to make a positive impact, and you.



Overview