[Home·Office] With development costs alone totaling 150 million won, Hyundai Livart’s Office Division focuses on strategic priorities

#14

Hyundai Livart Maker’s
"Home & Office Funding: A Success"

Maker 'Hyundai Livart' Profile

3-Line Summary

• Hyundai Livart, a total interior design company, has achieved cumulative funding of over 500 million won and a satisfaction rating of 4.5 stars with its office furniture alone.
• The Comfy footrest was completed after approximately 150 million won in development costs and a one-year development period. It raised about 270 million won through a wadiz funding campaign and was well-received by many supporters.
• After the funding campaign ended, the company launched a store on wadiz and began using the wadiz Delivery service.Throughthisservice, they efficiently managed orders, shipping, and delivery.

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Hyundai Livart: Delivering new value swiftly wherever we go

From left to right: Won Jae-ryong, Manager of the Chair Division, Development Team; Kim Se-ho, Head of the Chair Division, Development Team; Lee Hye-ryeong, Head of the Online/Product Planning Division, B2C Sales Team; Choi Jin-hyuk, Senior Associate, Online Division; Jeong Hee-jeong, Senior Associate, Online Division

Q. Hello. Could you please introduce yourselves and Hyundai Livart?

Hello. We are Won Jae-ryong, Lead in charge of development at Hyundai Livart’s Office Business Division; Jeong Hee-jeong, Senior Product MD in charge of online operations; and Choi Jin-hyuk, Senior in the Online Division. We were responsible for the concept planning, product design, development, and production of the Comfy footrest. We also accompanied the product on its long journey, from the wadiz funding story to marketing.

Hyundai Livart is Korea’s only comprehensive furniture company and total interior design firm, covering everything from residential, office, and marine furniture to interior design.Foundedin 1977, we are celebrating our 46th anniversary.We strive to deliver new value to living spaces by pursuing exceptional design, premium quality, reasonable prices, and authentic products and services.

Comfy, after tireless efforts,
It offers both an affordable funding price and desirable features

Q. I’m curious about what inspired the development of Comfy, which was launched through a wadiz funding campaign.

I often observed how people sat in their office chairs. I noticed that shorter individuals frequently used commercially available footrests, and many others sat with their upper bodies leaning forward or with their legs crossed . I realized that even when using a good chair, people weren’t utilizing it properly.To help theseindividuals sit correctly in their chairs while a footrest that would help them sit correctlythat would help them sit correctly, I felt this was absolutely necessary, so I began development.

Q. What aspect did you focus on the most when developing Comfy?

We focused most on keepingthe price reasonable.I noticed that most productson the marketwere priced too high relative to their production costs. This is especially problematic since footrests are items people are hesitant to buy if they’re too expensive. So, we worked hard to keep the funding price as low as possible. To be honest, from a developer’s perspective, I wanted to include all the great features, such as height adjustment and strong anti-slip capabilities. However, I decided it was more important to offer only the essential features at a reasonable price, so we chose to reduce the mold costs and the product price.

Beyond that, we focused on making users feel as though they were using a custom-made product.Womenwho are shorteror whose legs swell easily when sitting for long periods may have considered replacing their chairs before using Comfy. But with Comfy, they can sit comfortably with their feet and legs properly supported—right in the chair they’re already using. Also, people who sweat a lot on their feet can take off their shoes and rest their feet on it, which feels refreshing. We designed Comfy so that anyone who uses it can sit in a chair comfortably and correctly for long periods of time.

Q. As you mentioned, after reading the Story, I realized that with Comfy, you can relax and stay focused even while sitting for long periods. I could really feel the maker’s passion for the product. I’m curious about the background and process behind creating the Story.

It took a full year to plan and produce the product. Since we’d put so much time and effort into it, I figured there would be plenty of material to tell a story with. So I worked hard to vividly depict the Comfy development process . I also put alot of effort into the visuals and copywriting to ensure our supporters could truly relate to the product’s strengths. The development team andmerchandisers got together to create a proposal at the business unit level. I think we must have had about 30 meetings (laughs). 

Part of the Comfy footrest funding story, featuring various images and GIFs showing the product in use

While other companies typically take a long time from story planning to product photography, I’ve heard that once they start producing the story in earnest, it takes about a week to complete. We spent nearly a month creating our story.We made hundreds of revisions while listening to as many comments as possible, so I think we ended up with a story we’re 200% satisfied with.

wadiz funding,
A powerful tool for promoting big brands’ new products

The “Technique Chair” (left) and the “Comfy” footrest (right), unveiled through funding, cost 1 billion and 150 million won to develop, respectively

Q. I heard that the development cost for Comfy was a whopping 150 million won, while the Technic Chair, your previous funding product, cost 1 billion won.
I’m curious about what prompted you to launch products with development costs in the hundreds of millions during funding on wadiz. 

Aggressive marketingandto getquick feedback on the products. 

Typically, it takes three years to gather sufficient real-world usage data in the furniture market. As companies accumulate more real-world user feedback, they can create better products. In that sense, early-stage products aren’t perfect. 

Moreover, both of our products required not only significant development costs but also a production period of about 1 to 3 years. Since we’d invested so much, we needed an immediate market response. We felt that wadiz would allow us to reach a diverse range of consumers and gather real-world feedback all at once. Andas expected, collecting sincere feedback from supporters in a short period was a huge help in refining the products into better versions.

Q. The Comfy project achieved 270 million won in funding with an average order value in the 30,000 won range.
What was the internal reaction to this funding success?

First of all, as soon as we launched the funding project, the response from wadiz supporters was so enthusiastic that we were all surprised. The Super Early Bird slots sold out in just five minutes. There were so many questions—reflecting the high level of interest—that we even had to set up a separate Q&A room.

After the funding campaign ended, I can’t help but think that the status of the Office Business Division—which handled the wadiz funding campaign—has really risen within the company (laughs). Mr. Won Jae-ryong, who led the development of Comfy, also got promoted. In particular, people from other business divisions who hadn’t been familiar with wadiz funding started showing a lot of interest in it. Many of them said,“So even big brands can use wadiz funding for marketing and achieve success.”

Q. From the perspective of a major brand with high brand awareness and a dedicated fan base, what did you find appealing about the funding campaign?

On other platforms, we showcase various Hyundai Livart products simultaneously. However, on wadiz, we launch only one product at a time at a specific time. Since we’re a well-known brand, the mere fact that such a brand launched a product on wadiz significantly increased both attention and engagement.We found wadiz funding to be incredibly appealing because it allowed us to garner much more interest from a wider audience than we had anticipated. 

Previewer's review of the wadiz experience space in Seongsu-dong

Also, during the campaign period, many people who tried the product or participated in the funding wrote Supporter's reviews. As those reviews accumulated, they helped customers who encountered Comfy elsewhere make their purchasing decisions. And above all, wadiz is the number one crowdfunding platform in Korea. The fact that our product was recognized here had a huge ripple effect, so from our perspective, it served as highly effective viral marketing.

*Space wadiz is no longer in operation.

Q. What specific changes have occurred? 

Perceptions of Hyundai Livart have broadened. While Hyundai Livart previously had a strong image as a general furniture company, after the funding campaign, we gained a reputation as a company that also excels at making functional furniture, such as office chairs and footrests .

The expansion of our target audience is also a notable change. While the typical target demographic for furniture brands consists mostly of women in their late 30s and 40s, the wadiz funding campaign allowed us to reach many men in their 30s.I believe this was a great opportunity to introduce Hyundai Livart to newcustomers. 

wadiz Store,
Helping you row vigorously when the tide is in

wadiz Store is a service that allows for year-round product sales; once you meet the entry requirements, you can start selling immediately.

Q. I imagine you received a lot of interest after the funding. Among those options, why did you choose to join the wadiz Store?

I understand that the wadiz platform itself has over 5 million MAU (Monthly Active Users) per month. Since so many people visit the platform, I thought selling our products in the Store would give us significant exposure. Our successful funding history and Supporter's reviews would remain visible there, so I expected visitors to the Store to see that information frequently . I decided to join because I believed it was a service whereour funding success would carry over directly to the Store, allowing usto achieve even higher sales. 

Coincidentally, the store representative offered *Wadiz Delivery Serviceas well. Since wadiz handles orders, shipping, and delivery, it seemed ideal for our team, which is involved in various activities beyond our online business. The convenience—unmatched by any other platform—was very appealing. 

Wadiz Delivery Special Collection (left), thumbnail icon display (right)

Q. How did the store’s wadiz Delivery service help your sales? I’m curious about what aspects you were particularly satisfied with.

When using the wadiz Delivery service, wadiz provides logistics and store managers. Usually, you have to use in-house staff to set up and ship products, right? Butsince the wadiz manager takes care of everything from ordering to logistics, we just had to deliver the products—there was nothing else for us to worry about, which was very efficient. Also, I noticed that the Wadiz Delivery service was displayed as a separate icon on the project thumbnail. I believe even a small detail like that can help boost sales.

If you’re a company that would otherwise have to purchase and operate your own warehouse, I think you should definitely use this service. I also recommend the Wadiz Delivery service to those who handle imported products from overseas. 

Q. I’m curious how the quantitative and qualitative results of the Comfy project on the store differed from the first funding round.

In terms of sales, we raised about 270 million won during the funding campaign. After launching on the store, we generated about 150 million won in sales. We estimate that approximately 3,100 units were sold through the Store, which represents about 50% of the funding results.Since this was a product available for immediate shipment—and many people who hadn’t participated in the funding campaignwere able to purchase it—a lot of customers bought it to try it out first or as a gift. I believe the additional sales we had hoped for when joining the Store were definitely realized.

wadiz supporters,
Helping Improve Product Quality Through Quick Feedback

Q. Did you notice any distinctive traits among wadiz supporters during the funding campaign?

People who buy products elsewhere tend to prioritize value in terms of price or free gifts. Wadiz supporters, however, focused on the process of planning and developing the product itself—the maker’s dedication and effort.Since this was a product being introduced to the world for the first time through funding, I felt that they were the kind of people who meticulously compared how good this product was within its product category.

They also provided a lot of expert questions and comments regarding the Rewards. With chairs, the tilting function typically varies by product, and a slight amount of play is a natural occurrence. I was particularly surprised by the number of people who asked about this during our previous funding campaign for the Technique Chair project. Some even pointed out issues we hadn’t caught during quality testing, which allowed us to make improvements—and for that, we’re very grateful.

When they installed our products at Space wadiz, they were very proactive about leaving Previewer's reviews based on their experiences. It really made me realize just how much they care about the Rewards. That’s why we were able to spare no expense on marketing, such as offering gift cards and hosting review events. 

Q. I’m curious about any moments that stood out to you while communicating with your supporters.

I remember times when our supporters would leave comments almost as if they were our in-house PR staff. People who had tried out Comfy would leave detailed feedback, saying things like, “I really loved this feature.” There was also a time when questions poured in as soon as we launched the project; while we responded quickly internally, our previous backers stepped in to answer them on our behalf. I was truly grateful.

Take on a wadiz funding campaign to analyze market trends and target audiences!

Q. How do you expect trends in the home living (furniture) sector to evolve?

First, I think the lines between home and office will blur even more than they are now.Since ourlivingspaces are becoming our workspaces, we’ll need furniture that allows us to relax comfortably while also helping us focus on our work. 

Second, consumer preference for personalized, functional products will increase.Products tailored to individual tastes and body types will likely gain popularity overmass-produced, one-size-fits-all items.

Finally, specialized brands will come into the spotlight.Brands that can simultaneously provide products, technological expertise, and services based ontheir specializationwill gain popularity. That’s why we, too, are striving to develop our products and services together over the medium to long term.

Q. I’m curious about the future of Hyundai Livart. Could you tell us about the Office Division’s plans?

Our Office Business Division plans to gradually increase sales by developing and launching new products aligned with annual trends. We will continue to quickly identify customer needs and meet them with authentic products and services. Additionally, based on comments from supporters during our recent Technic Chair funding campaign, we’ve revamped the product and plan to launch it on wadiz soon. We hope you’ll look forward to it.

Q. Finally, could you share a few words for aspiring makers preparing for a wadiz funding campaign? 

First, I’d recommend comparing and analyzing the products and Storieson wadiz and other platforms. Consider what your product’s USP (Unique Selling Point) is and how it’s conveyed through imagery and copy.

Once you clearly define the customer segment your brand should target, the direction you need to take will become much clearer. I recommendidentifying which products are currently popular and reviewing customer feedback. You’ll be able to pinpoint the features customers want and areas for improvement.

Finally, if possible, make full use of the Project Director (PD). I believe receiving feedback from wadiz’s in-house experts on your Rewards and Story will be extremely helpful.

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• [Interview/Ecto] Moving Away from Specs for Specs’ Sake: Ecto’s New Product Launch Strategy

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Interviewees: Won Jae-ryong (Manager), Jeong Hee-jeong (Senior Manager), and Choi Jin-hyuk (Senior Manager) from Hyundai Livart’s Office Business Division Written by Nam Hyun-sol Edited by Han Ji-hye