The former chief executive of UK-based shopping channel Ideal World has joined the board of live commerce platform OOOOO.com on a mission to revolutionise video shopping in the global retail sector.
Steve Hubbard is to spearhead OOOOO's drive to empower retailers to transact directly with consumers via shoppable short-form video that is broadcasted live on-screen via streamed content on a smartphone or smart device.
The tech platform, which is listed on the Toronto Stock Exchange, has previously created video commerce solutions in partnership with major retailers and global brands such as Nike, JD Sports, The Hut Group, I Saw It First, Boohoo.com, and Lego.
The appointment will see Mr. Hubbard rekindle his professional relationship with OOOOO Group founder Sam Jones, a former Managing Director of Wish.com. The pair previously worked together at UK retailer M&S during their early careers in retail.
"I'm delighted to be joining OOOOO at such an exciting time with the global infancy of live commerce. Our technology will revolutionise the relationship and engagement between retailers and consumers by enabling customers to make real-time purchases whilst enjoying live video content. This gives brands an instant transactional relationship with customers via social video within their own ecosystem, without interaction with third parties," said Hubbard, Chief Commercial Officer of the OOOOO Group.
The live stream economy in China is already estimated to be worth over $420 billion this year, according to research by McKinsey. Beauty influencer Austin Li reportedly recently generated sales of $1.7billion in just 12 hours.
In addition to its activity in the UK, OOOOO operates a number of app-based solutions with international partners, including QVC in Italy, Mojo in the Middle East, B2W in Brazil, and Shiller in the US.
OOOOO Co-founder Sam Jones said: "Steve is a great innovator with a strong track record that spans more than 25 years in the retail sector. This includes leadership positions at Ideal World in the UK, Landmark Group in the Middle East & India, and Rochdale Spears Group in the Far East and the United States. His previous experience also includes roles at Next, Marks & Spencer, and Arcadia Group. We are delighted to welcome Steve to the board."
Mr. Hubbard was Managing Director of Ideal World from 2018 to 2022. The OOOOO Group was founded in 2020 by Sam Jones and Eric Zhang (a former senior engineer at TikTok and a founding member of Musical.ly). OOOOO's tech team is based in Shanghai and the company operates a content studio in Manchester. OOOOO is listed on the Toronto Stock Exchange (TSXV:OOOO).