RewardStyle the influencer content monetisation technology platform and its LikeToKnow.it shopping app are rebranding to become LTK to unify its two brands for “consistency and simplicity” ahead of its global expansion in H2.
The move will see RewardStyle, the content monetisation technology for influencers, and the shopping app, LikeToKnow.it now operating under LTK moving forward as one unified platform.
The company rebrand will take effect in the UK and US immediately and will also roll out to other global markets, including Germany, France, Australia, China, South Korea and Brazil imminently, where LTK services and its shopping app will be localised for regional brands and influencers later this year.
Influencers use LTK’s proprietary technology platform to create, manage and grow their own e-commerce shops to drive online retail sales for brands including Missguided, Selfridges, Harvey Nichols and MatchesFashion.
To date, global brands have invested more than 1 billion US dollars in creator content through LTK campaigns, collaborations and commissions-on-sales, and there has been a 90 percent increase in UK brands approaching LTK to plan and execute their data-led influencer marketing at scale since Covid-19, adds the company.
RewardStyle rebrands to LTK to drive continued growth as it celebrates 10 years
Amber Venz Box, co-founder and president of LTK, said in a statement: “As a B2B2C platform that uniquely serves all sides of the creator commerce experience, it was important that we unify our business under a singular brand to further expand our clients’ opportunities.
“We’ve spent the last six months investing in world-class talent, adding more than 100 new employees in 2021 alone. Our focus now is on innovation and speed. We’re developing new technology and features that propel our clients and we are scaling the most dynamic and efficient online shopping experience powered by influencers.”
Some predicted that Covid-19 would be an existential threat to influencer marketing, but LTK states that the opposite happened as consumers embraced online shopping. This lead to LTK reporting “tremendous growth” over the pandemic with influencer-driven retail sales on the app increasing 142 percent year-on-year in the UK in 2020. Globally, the company reached 2.8 billion US dollars in influencer-driven purchases last year from more than 100,000 influencers in over 100 countries.
LTK will become a one-stop destination that puts influencers in business with three core areas – creator, brand and shoppers. LTK Creator will cater for the fashion, beauty, fitness, home and lifestyle influencers who use LTK to monetise their content across blogs and social media, while LTK Brand will service more than 5,000 global retailers, and LTK Shoppers will be dedicated to the app that allows consumers to shop influencers wardrobes. The LTK shopping app is now the company’s dominant source of influencer-driven retail sales, globally.