Franz Wu, CEO, Chairman, and Co-Founder of YOHO (友和) started his journey trading consumer electronics and home appliances during the 2008 financial crisis. In 2013, recognizing the lack of convenient channels for buying electronics in Hong Kong, Franz and his wife, Kathy Tsui, founded YOHO. Their initial investment of HK$500,000 each has blossomed into a leading e-commerce platform, boasting over 1,000,000 registered users and a gross profit of HK$130 million for 2022-23. It is now the largest e-commerce platform with a primary direction towards consumer electronics and home appliances in Hong Kong while also having the honor of being listed on the HKEX in June 2022. 

YOHO's success stems from its innovative online-merge-offline (OMO) business model, which combines online shopping with physical showrooms, offering a seamless customer experience. The platform has also embraced AI, developing AI assistants that can be customized to provide personalized product recommendations and a convenient shopping environment. 

YOHO's partnership with HKUST Business School further enhances their AI capabilities, developing a product recommendation system that leverages past purchase data to guide customers towards optimal choices. AI also plays a crucial role in streamlining backend operations, improving product descriptions and enhancing efficiency. 

Franz's ambition extends beyond Hong Kong, with plans to expand into Mainland China and the Greater Bay Area. He emphasizes the importance of being well-rounded, savvy, and worldly, while treating everyone with respect and care.  

Alumni Newsletter Summer 2024