Building a Winning Strategy for Mymadeinke

Mymadeinke is ushering in a new era of local manufacturing and empowering artisans in Kenya. However, scaling this ambitious venture requires strategic planning and sharp execution. This analysis dives into crafting a winning strategy for Mymadeinke to expand its reach, beat competitors, and ultimately boost “Made in Kenya”.

An effective strategy combining market knowledge, competitive edge, marketing savvy, and financial discipline can help Mymadeinke flourish into a leader in locally-made artisanal goods from Kenya for global consumers.

Introduction to Mymadeinke

Mymadeinke is a Nairobi-based company launched in 2020 that aims to promote and sell quality artisanal goods proudly Made in Kenya to local and international consumers. It provides a platform for skilled Kenyan artisans to showcase their products to a global customer base. Some key facts about Mymadeinke:

Mymadeinke offers a wide variety of locally-produced items including home decor, fashion accessories, beauty products, and electronics accessories under one roof. The product range is expansive – from wooden sculptures and Maasai beadwork to kiondo bags and cowhorn cutlery.

It directly engages over 200 Kenyan artisans spread across the country. The artisans produce unique handmade items using locally available raw materials and traditional techniques passed down generations. Mymadeinke provides a direct route to market for their wares.

The business is founded on values of community upliftment, ethical sourcing, environmental sustainability, and cultural preservation. It aims to create sustainable livelihoods for skilled craftsmen and women in Kenya.

Mymadeinke retails online via their e-commerce site as well as third-party marketplaces. Physical retail presence is limited to occasional pop-up shops in Nairobi malls. But global shipping ensures access to overseas consumers.

Understanding the Market for Mymadeinke

Several factors make the market ripe for a business like Mymadeinke catering to locally produced artisanal goods.

Rising Demand for Authentic Handicrafts

• A growing desire for authentic cultural experiences and creations among tourists, expats, and the diaspora community is driving demand for handicrafts.
• Locally made goods as souvenirs, home decor, gifts or fashion accessories are highly sought after.
• Handmade artifacts connect people to traditional crafts and cultural heritage.

Emergence of Ethical Shopping Trends

• Ethically and sustainably produced goods are increasingly popular with consumers.
• Buying local and supporting artisans aligns with anti-consumerist and environmental movements.
• Customers appreciate transparent supply chains and ethical production that Mymadeinke offers.

Growing Middle Class and Tech-Savvy Youth

• The emerging middle class and youth demographics in Kenya are comfortable shopping online.
• Their higher disposable income feeds into demand for premium indigenous goods.
• E-commerce makes Mymadeinke accessible to Kenyans wanting to buy local handicrafts.

Untapped International Markets

• Overseas tourists, expatriates, and the African diaspora are key target segments for made in Kenya handicrafts.
• Mymadeinke gives global access to authentic products from Kenya not easily available in their own countries.
• Their cross-border e-commerce model opens up underserved international markets.

Competitive Analysis of Mymadeinke

Despite growing demand, Mymadeinke operates in a competitive space. Understanding the competitive landscape is essential to position themselves for success.

Direct Competitors

Mamaland and Ujuzi Collection are Mymadeinke’s closest direct competitors. They also sell Kenyan handicrafts produced by local artisans online to an international audience.

Mamaland focuses on fashion accessories and personal care items made from indigenous materials by women-owned businesses across Africa. They have a wider African footprint.

Ujuzi Collection concentrates more on traditional wood carvings, baskets, pottery and beaded ornaments. Their product portfolio is narrower compared to Mymadeinke.

Competitor Analysis

Some key insights from analyzing their competitors:

• Mymadeinke has the most diverse product assortment spanning multiple art forms, styles and uses. This gives them an edge over the relatively niche product ranges of Mamaland and Ujuzi.
• Competitors source handicrafts from across Africa while Mymadeinke spotlights artists and artisans exclusively from Kenya. This helps them stand out.
• Mymadeinke allows customers to directly shop by artisan enabling recognition for their skills. Competitors sell by product type or category only.
• Competitor sites showcase some artisan stories and workshops. But Mymadeinke goes deeper with in-depth artisan features, photos and videos bringing their backstory and skills to life.
• Mymadeinke offers flexi-pricing where artisans can price based on effort and costs. Competitors seem to have fixed standardized pricing.

SWOT Analysis

Company Description of Mymadeinke

Mymadeinke aims to empower and create sustainable opportunities for gifted artisans across Kenya by providing them global access.

Company Background

Mymadeinke was founded in 2020 by Maralal brothers Lucas and John Kinyanjui who wanted to create an ethical business that transformed lives of artisans from their community. They had seen first-hand how middlemen exploited local artisans denying them fair pay and recognition.

Starting with a few women artisans from the Maralal area, the Kinyanjuis helped them set up an online store for their beadwork and leather goods. The enthusiastic customer response led them to expand the model across Kenya. Mymadeinke now engages artisans from over 20 counties countrywide.

Mission and Vision

Mymadeinke is driven by its mission to empower and enable Kenyan artisans to earn dignified livelihoods. The company’s vision is to spearhead the “Made in Kenya” brand worldwide.

Key guiding principles underlying Mymadeinke’s model are fair pay, ethical production, cultural preservation and sustainability. This shapes everything from artisan partnerships to eco-friendly packaging.

Why Mymadeinke is Unique

Some unique features that set Mymadeinke apart in the market:

• Direct artisan-customer contact: Their platform enables direct interaction between creators and buyers building mutual understanding and appreciation.
• Hands-on artisan support: Mymadeinke provides 360-degree support to artisans – product photography, cataloguing, quality control, order processing, packaging and shipping. This bridges the skill and technology gap.
• Profit sharing model: Mymadeinke works on a flexible revenue sharing model with better margins for artisans compared to middlemen-dependent local trade.
• Preserving traditions: Their commitment to handmade production using traditional methods and indigenous materials sets them apart from mass-manufactured products.
• Transparent storytelling: They emphasize in-depth storytelling highlighting artisan profiles, skills, work methods and challenges through photos, videos and blogs. This builds trust and connection.

Strategic Plan for Mymadeinke

Mymadeinke is currently in an early growth stage having proved its model with initial traction and revenues. The next 3-5 years will be crucial to scale sustainably.

Key Focus Areas

Mymadeinke should focus on four strategic areas for the near future:

1. Increase artisan partnerships: Widen artisan network across Kenya to expand product catalog and production capacity. Onboard 5-10 new artisans monthly.

2. Grow online sales: Drive online sales by focussing more on digital marketing and targeted promotions. Aim for 25% sales growth quarterly.

3. Enhance brand visibility: Raise brand awareness in target export markets through PR, partnerships and mainstream/social media publicity.

4. Refine product mix: Tap into data insights to identify and expand product lines with maximum traction and potential. Add wider size ranges.

Long-term Goals

The 3-5 year horizon should target these broad goals:

• Have over 1000 artisans from all 47 counties engaged in productive partnerships.
• Achieve over 50% sales from international markets signalling global appeal.
• Move into permanent physical storefronts in Nairobi and key tourist centres.
• Develop own logistics network to lower shipping costs and reach remote artisans.
• Be the most recognized made in Kenya handicrafts brand internationally.

Key Strategies

Mymadeinke can adopt these core strategies to pursue its long-term goals:

Leverage digital platforms and tools for marketing, sales and operations to maximise reach and efficiency.

Revamp brand identity and packaging to appeal to international audiences while retaining authentic Kenyan vibe.

Target leading tourist hotspots and diaspora hubs for initial physical footprint before expanding across high-potential locations.

Partner with influencers, tour operators and hotels to amplify brand exposure and sales opportunities.

Strategically expand product portfolio to balance both high-volume and high-value specialty lines appealing to varied customer segments.

Invest in understanding overseas markets through consumer insights and competitor analysis to tailor products and positioning.

Develop in-house talent and skills via training programs in photography, content, digital skills and quality assurance.

Marketing Plan for Mymadeinke

A targeted marketing strategy will be central to Mymadeinke’s ambition of making locally-produced Kenyan handicrafts accessible worldwide.

Key Target Audiences

Mymadeinke serves two distinct customer groups. The marketing plan needs to appeal to both.

1. International buyers: Tourists, expatriates and the African diaspora based overseas form the bulk of customers. They buy for self-use or as gifts.

2. Domestic consumers: The segment within Kenya is currently small but likely to grow. Rising disposable incomes make locally made handicrafts an aspirational purchase for middle and upper-class urbanites.

Marketing Strategies

A multi-pronged marketing approach is proposed spanning different mediums.

Leverage influencers with large overseas following to promote Mymadeinke’s products and artisans through sponsored content on social media.

Partner with tour operators, hotels and airlines to sell artisan goods as souvenirs and expand retail presence through hotel shops and in-flight catalogues.

Conduct PR and outreach campaigns targeted at mainstream media, expat publications and diaspora bloggers to generate endorsements and earned media.

Run paid digital promotions via search, social media, Amazon, and relevant e-commerce sites combining targeting Kenyan diaspora and traveler demographics.

Produce visual, lifestyle-oriented content – professional photos, behind-the-scenes videos, artisan interviews, podcasts to authentically share Mymadeinke’s brand story.

Organize pop-ups and stalls at cultural, diplomatic and tourism events as well as festivals abroad to directly introduce Mymadeinke.

Sales Plan

Mymadeinke’s omnichannel sales strategy should encompass:

• Online retail through own website with global shipping as well as third party marketplaces popular in target countries
• Travel commerce via tour operators, airports, hotels, and airlines
• Pop-up stores at high footfall locations and events in Nairobi alongside international cities with diaspora presence
• Retail partnerships to sell products through third party physical and online stores
• Bulk orders for customized corporate gifting, welcome packs for tourists and event merchandise

Financial Analysis for Mymadeinke

For Mymadeinke to continue on its growth trajectory, prudent financial planning to ensure profitability and funding for expansion is imperative.

Key Financial Metrics

Mymadeinke’s current financial position can be understood through these key performance indicators:

• Revenue for 2022 was KES 18.2 million, a 65% growth over 2021.
• Gross profit margin is 47%, tracking lower than the target of 50% due to high shipping costs.
• Around 60% sales came from overseas orders, dominated by the US and UK.
• The customer repeat purchase rate is 38% signaling healthy retention.
• Customer acquisition cost is KES 352, slightly higher than the goal of KES 300 per customer.
• Operating expenses were 42% of revenue with a major outlay towards digital advertising and content creation.

Financial Projections

Conservative projections for Mymadeinke’s financials over the next 3 years are:

Assumptions

• 50% annual revenue growth from expanded artisan network and sales.
• Improving margins due to economies of scale.
• Optimized costs through in-house operations and platform efficiencies.

Investment Requirements

An estimated KES 6 million capital investment will be required over the next 3 years towards:

• Opening owned stores at premium locations in Nairobi, Mombasa and Nakuru
• Developing online platform enhancements and dedicated mobile app
• Implementing robust CRM and inventory management systems
• Creating in-house content production and logistics capabilities

We aim to raise this through:

• Reinvesting 60% of profits to fuel growth
• Seeking credit lines from financial institutions
• Raising angel investor funding of KES 3-4 million

Product and Service Description

Mymadeinke provides a comprehensive suite of services to market unique handcrafted products made across Kenya by talented artisans to global audiences in an impactful manner.

Products

Mymadeinke sells authentic handicrafts in various categories including:

Home Decor: Handwoven baskets, pottery, carpets, lamps, wooden sculptures

Fashion Accessories: Beaded sandals, bags, jewelry, clothing, headwraps, belts

Beauty: Natural soaps, oils, incense, candles, body butter, aromatherapy

Kitchenware: Wooden spoons, serving platters, aprons, earthenware cups, coasters

Art: Paintings, prints, photography, portraits by Kenyan artists

Electronics: Audio speakers, headphones, tablet/phone sleeves featuring artisanal touches

Over 10,000 products from 200+ artisans are listed on the online store with new additions every week. Products ship worldwide with 7-14 day delivery.

Services

Mymadeinke’s services to support artisans cover:

Onboarding and training on product photography, cataloguing, packaging and courier services

Quality assurance and feedback to maintain standards and improve skills

Product styling, content creation and promotion – photos, blogs, video – for online store

Order processing, packaging and shipping from pickup to delivery

Payments and Income tracking for transparent earnings

Executive Summary

Mymadeinke offers a compelling ethos, expansive artisanal product range, and scalable direct-to-consumer model. Strategic clarity on market opportunities, competitive positioning, marketing and operations can elevate this purpose-led social enterprise into a globally recognized Made in Kenya brand.

Their ambition of empowering indigenous artisans by connecting them directly with customers worldwide has strong potential despite risks from high costs and competition. Mymadeinke stands apart with its robust online infrastructure enabling access and networking.

Early success among international buyers reiterates the brand’s appeal and validates future plans. Prudent financial planning is imperative to fund expansion. Impact-oriented storytelling and collaborations will enhance reach and establish thought leadership. Executing the strategies outlined across marketing, product mix, content and retail channels can propel Mymadeinke into the stratosphere.

Conclusion

Mymadeinke’s unique strengths and value proposition make it poised to carve out a winning niche in locally-produced handicrafts from Kenya. Their digital-first model overcomes infrastructure bottlenecks that thwarted many past efforts to promote “Made in Kenya” globally.

Impact-driven ethos, diverse community of skilled artisans, and focus on customer-artisan linkage are differentiators. However, realizing the global artisanal goods opportunity needs strategic investments in marketing, operations and retail. Partnerships with tourism stakeholders, targeted digital outreach and compelling storytelling are other essentials. If Mymadeinke stays committed to its mission of empowering artisans through ethical, sustainable trade, its ambitious expansion plans can deliver shared prosperity.

Mymadeinke’s aspirational future vision is one where their success unlocks life-changing opportunities for talented craftspeople preserving Kenya’s cultural heritage while inspiring customer pride in owning genuine handmade creations from Africa.