Wistiki: connected key rings are regaining color!

Representative of French creative genius, Wistiki has experienced ups and downs in its 4 years of existence. The brand of geolocatable key rings is reborn from its ashes with new models after a judicial liquidation. The actions were taken up by a visionary who wants to launch practical connected objects for everyday life.

Wistiki key rings have come a long way

Born in 2016 from a very enthusiastic fundraiser, Wistiki existed for 4 years before closing its doors. The company, which has been in liquidation since April 2021, found a buyer in the middle of summer. Philippe Duclos believes that it is possible to get the hardware-centric company back on track. He inherited a catalog of connected key rings that he intends to transform to meet current tastes.

Having acquired the start-up for 25,000 euros, the investor is relaunching the production of key rings with a few new products in reserve. However, the majority shareholder and manager wants above all to take advantage of the brand’s notoriety to offer other services based on connected everyday objects.

The brand cleans up before distributing

Before launching new key rings, Wistiki still needs to settle the scores. As such, his current boss has formed a team of 4 people who will support him in the heavy task of recovery. The buyer must develop a logistics process and establish after-sales service. He must also manage the multiple bugs reported by customers.

A simple glance at Google Play or Apple Store is enough to assess the dissatisfaction of the brand’s customers. After this project, we will have to reconquer the market. Although a pioneer in the connected key ring sector, Wistiki no longer enjoys the status of undisputed leader. Other similar products offered at very competitive prices have appeared. The new boss must therefore do everything to revive sales in order to finance his projects.

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Soon a connected wallet if all goes well

For Philipe Duclos, it is imperative to address a B to B market. This positioning requires several internal adjustments, but also requires new products. He believes he can convince companies to enter into a commercial partnership with a catalog brought up to date. Alongside the key rings designed by Philippe Starck, there will be wallets and other connected objects. The idea came from a Lacoste initiative.

The sportswear brand plans to launch its connected wallets in around fifty countries. Goods may well be lost or stolen, but their owners will be able to find them thanks to geolocation. This project was put on hold due to the Covid-19 pandemic. Which also represents a financial gap that is difficult to recover from. If sales pick up after the launch of the cheerfully colored key rings, other products will not be long in coming. The entrepreneur is counting in particular on turnover taking off during the upcoming end-of-year holidays.

Determination and prudence to complement youthful enthusiasm

The buyer of Wistiki says he has learned lessons from his brand’s experience. Determined to face new challenges, the man declares that he will not turn his back on fundraising. In the meantime, he wants to test his approach in order to find a neutral trade balance. From now on, governance is required in the same way as precaution. It is clear that the youthful enthusiasm of the founders of the brand has left them alone. We had to turn to B to B when there was still time. To be continued.