Two worlds collide as Sook Founder John Hoyle talks loss of his wife and brutal few months for startups

The founder of Sook, a startup focused on vacant retail spaces and giving them a modular, digital fit-out which can be rented by the hour, has taken to social media to discuss his mixed emotions as his company this week celebrates its fourth birthday.

John Hoyle said in a LinkedIn post: “in addition to Sook being four years old, it’s also four months since my amazing wife died.”

“It’s been a brutal period for most startups as global economies falter. For me two worlds collided as I learned my wife wouldn’t make it to Christmas the same week Liz Truss launched her mini budget, destroying weakening investor sentiment overnight.”

He continued: “Although it’s not been easy, the incredible Sook team has rallied just like they did when we needed to survive the pandemic.”

“We’ve actually trebled our first quarter sales since last year and it’s possible we could eclipse all of our 2022 sales before the end of April. In the context of founder grief and economic crisis I really could not have asked for more from my colleagues and I owe a debt of gratitude to them all.”

The rest of the year, he added, is about executing on the opportunities that the firm has had to postpone, namely new spaces, new markets, and new services.

Hoyle concluded: “Many investors are sitting on their hands right now but fortunately others can see there has never been a better opportunity to disrupt the vast and cumbersome retail real estate sector.”

2022 RTIH INNOVATION AWARDS

Sook emerged victorious at the 2022 RTIH Innovation Awards in December, picking up the Bricks and Mortar Innovation gong.

Our 2022 winners were revealed at a sold out event in central London on Tuesday, 6th December.

Our judging panel said of Sook: “There aren’t many things more depressing than empty shops on a high street, especially when it’s at odds with the number of innovative SMEs desperate for a bricks and mortar base to interact with customers.”

“Sook realised this demand for physical space hadn’t gone away, it just needed to solve the disconnect between brands and landlords while making it quick, easy and cost-effective for those brands to create a bespoke space.”

“As well as enhancing local communities and economies with these immersive pop-ups, it gathers analytics for its occupiers, allowing them to best understand how to use physical space as efficiently and effectively as possible.”

“Sook also claims to have placed great importance on sustainability with its offsite modular construction typically producing 30% less CO2 compared to a traditional shop fit and powering all its units using 100% renewable energy providers.”

“Finally, it’s not just SMEs working with the company – Uber, Mastercard, Facebook, SumUp, Hard Rock, Tik Tok, Jagermeister, Depop and Raspberry Pi all have also sought it out as a solution for enabling physical spaces to thrive via innovative technology.”

RTIH Editor, Scott Thompson, said: “Innovation and technology play a critical role in the success of the retail sector, so it is great to recognise standout examples through our awards.”

“Thanks to all those who entered the 2022 event. We received a record number of submissions and many fantastic examples of the continued resilience and dynamism of the retail space during hugely challenging times.”

“Congratulations to our 2022 retail technology hall of fame entrants.”