David Lui is a global brand and entrepreneurial leader known for transforming businesses and
stagnant brands into profitable market share leaders. He has an extensive background in leading public and private organizations in complex retail, digital, and consumer environments.
He has developed global award-winning marketing campaigns, has scaled online e-commerce brands, was CEO of the twelfth Fastest Growing Company in Canada’s PROFIT100, First for Fastest-Growing Company in Vancouver, CIBC’s Top Job Creator, winner of the BDC Young Entrepreneur Award, was recognized as a Business in Vancouver Forty under 40 and was a nominee for Ernst & Young Entrepreneur of the Year, Pacific Region.
As CEO and President for KORITE International, David leads an organization headquartered in Calgary, Alberta, with operations in Asia, has an omnichannel presence of fine jewelry and art sold in over 28 countries, and operates the most significant commercial Ammolite mine in the world. In addition, David has contributed to numerous industry and community organizations, including the Board and Governance Committee for Hypertension Canada, the Retail Leadership Committee for the Canadian Marketing Association, and the Marketing Advisory Committee for the Retail Council of Canada.
David holds an MBA from the Ivey Business School at Western University.
In this episode you’ll learn about:
- The history of Korite, where it comes from, how it forms, why it’s unique, and where you can find it.
- How David helped KORITE during the 2020 pandemic shift from selling on cruise ships to improving the D2C experience - updating the website, content, and storytelling.
- The importance of strategic partnerships, influencers, and local celebrities when marketing in different countries.
- Ways to educate potential consumers and go to market in new countries.
- The pros and cons of dropping pricing to make products more accessible - and why it worked for KORITE.
- The opportunity with live streaming or “live shopping” as a marketing tool - how it works, what channels you can use, and predictions about the future.
- Why Boxing Day is so popular in Canada.
- The power of storytelling to connect with your consumer and authentically market your product.
Connecting with David Lui:
Connecting with the host:
- 3:56 “It’s the youngest gemstone declared by the CIBJO, the World Federation of Jewelry and Gemstone.”
- 4:10 “Because of its vibrancy in color and the uniqueness of it, we mine it, and out from the Ammonite come the Ammolite.”
- 5:22 “In Asia there’s a belief that the stone contains the energy of the earth.”
- 6:00 “Signed up for a partner in Malaysia, also with Indonesia, we signed up with a partner in Japan. So we are growing our business.”
- 8:11 “And here’s the other benefit. Our team gets to stretch their minds, beyond North America. Giving them a career development, per se.”
- 17:53 “In terms of what’s working, we have to do a lot of storytelling, so upper funnel brand marketing.”
- 18:42 “I wanted to make it more accessible to more people to enjoy it, and love Ammolite. So we brought the prices down.”
- 19:58 “Once people love Ammolite, they love it forever. That’s the greatest outcome.”
- 30:55 “ Well, we’re selling a rock. But with some creativity, storytelling, and authenticity, you can build a story and sell your product.