Entrepreneurs Joey Li and Thuta Khin met while studying the MSc Marketing Strategy and Innovation at Bayes. Their time at the business school not only forged a strong friendship, but also the foundation for a social impact business making a difference to communities throughout London.
Joey explains: “Both Thuta and I grew up in Southeast Asia, so coming to the UK and learning about the different social issues we saw, resonated strongly with us because we had seen it in our own countries as well. That drove us to start a business that really inspired people to do good and make it easy to give back.”
Together they founded Leiho in 2019 as a ‘buy one, give one’ sock company, where each purchase of a pair of socks would see another pair donated to a homeless shelter, providing a basic necessity to those in need.
“Leiho means ‘How are you?’ in Cantonese and that reflects our mission to care for others and create meaningful impact through the purchase of everyday essentials,” says Thuta.
The pair hold roles in Leiho which play to their natural strengths. Joey is Chief Executive Officer and Thuta is Chief Operating Officer. Thuta explains:
“We have our different skill sets, and I think we are quite compatible with each other. I mainly take care of the operations, supply chain, analytics, and finance side of the business, while Joey is more strategy and vision and growing the business. She’s also the creative genius behind our campaigns, designs and social channels. It was quite clear to us in the beginning what each of our strengths were, but as with every co-founder relationship, it is work in progress, and we are still learning about each other every single day.”
Joey and Thuta credit the business school with providing the support, nurturing and networking opportunities they needed to create a successful business.
Thuta explains: “Being international students, we didn’t have an existing network to draw on – attending the many networking events and guest lectures was invaluable. We could learn from the community that was already there and get the support that really helped kickstart the business.”
Joey adds: “Being able see how established entrepreneurs achieved success, that really inspired us. Plus, we were getting practical campaign experience on the course. You get to test your business ideas and marketing campaigns, pitching them to other entrepreneurs and Bayes academics. They give critical and constructive feedback to refine your ideas or pivot if you need to.”
Since 2019 Leiho has donated thousands of essential items to shelters, refugee camps, and low-income households across London. Having heard the stories of the people they met, Joey and Thuta discovered a greater purpose for Leiho. Today, they partner with charities and community organisations to create inclusive employment opportunities and ways for people in underserved communities to learn new skills.
Thuta says: “We’ve built a great community of conscious customers that want to give back through the products they buy and consume. Five per cent of our revenue goes towards our impact fund, supporting upskilling projects and employment opportunities.”
Alongside growing consumer sales, Joey and Thuta see real potential in the business-to-business market.
Thuta says: “We have partnerships with companies to make ethical branded merchandise for them. We saw a gap in the market where we can fit and position ourselves for growth. We’re experimenting because the more sales we make, the more funds we can raise for our impact projects. We started Leiho by giving away essentials like socks and toiletries. Now we think that to really make a difference to someone’s life, it is to support them on a journey back into the workforce, so they can self-sustain.”
“Our passion for building a business with purpose was always there,” says Joey. “Our time at Bayes helped us figure out what that purpose was.”