Getting to Know… 404 Innovation Studio

A design-first innovation studio, 404 creates stories, products, and experiences that people wish existed.

Led by Rafael Caldeira, Renan Monjon, Saulo Monjon, and Mari Balestra, 404 measures success by one metric: relevance. The studio blends strategic thinking, design excellence, and creativity to guide brands through complex challenges and drive transformative growth.

Co-founder and chief creative officer Rafael Caldeira chatted with LBB about the principles that he, Renan Monjon and Saulo Monjon [co-founders] built 404 upon, and how they prioritise human creativity in an industry quickly forgetting about such concepts.

LBB> Tell us a bit about 404 Innovation Studio – when did you form and why?

Rafael> Tomorrow, 78% of brands could disappear, and no one would care. Brand apathy grows year after year. The advertising industry's resistance to change has created an opportunity for something new.

That's why, at the end of 2023, Renan Monjon, Saulo Monjon and I built 404, an innovation studio where relevance is the metric. We coined the term ‘Innovation Studio’ to define something ‘not found’ in the market: a model at the intersection of three disciplines.

Part strategic consultancy that recognises operations enhances creative output.

Part design studio that places design at the centre, giving creativity functional purpose in business and people's lives.

Part creative agency that understands imagination and craft are core business.

We designed a new model, rather than retrofitting the old one. The studio has only two departments (operations and product) and three roles (partner, director, specialist). It's a model built for constant change. We embrace flux rather than resist it.

LBB> What’s the story behind your name?

Rafael> There are many answers to this question. Personally, I love the idea that 404 is the name of a universal error. This is how we reinforce to every client and collaborator that mistakes are a fundamental part of truly innovative creative work.

We love to say that excellence is not a formula, and to pursue relevance, we believe that a creative company's primary role today is to build an environment that encourages experimentation, where people feel safe to take risks and generate new ideas.

LBB> Tell us about up to three campaigns that epitomise what you do as a company.

Rafael> Our first project was an earned media idea for Netflix. We came up with ‘The Cruise Heist’, a national prank that became a trending topic on X, successfully announcing the new show, ‘Berlin’. This initiative captivated celebrities, press, and fans, propelling the show to the number one spot on Netflix Brasil.

In Brazil, our ‘That's a Google Thing’ campaign for Android reinforced Google's innovative credentials within the operating system, boosting brand preference across the country.

For Natura, we leveraged collaboration to elevate a new fragrance into a fashion icon. We partnered with Elle Magazine to create stunning visual assets, then utilised AI tools to transform this editorial content into thousands of custom deliverables, marking a unique blend of fashion and technology.

LBB> Give us a fun fact about your company.

Rafael> We haven't had the chance to build our own website yet, so our online presence is currently a clear 404 ‘PAGE NOT FOUND’. While some might think this is intentional, it's really a case of the shoemaker's son always going barefoot.

LBB> What are your strongest opinions about your industry?

Rafael> Our industry is grappling with a crisis of relevance. Too often it’s fixated on past glories or, inversely, obsessively chasing tech and AI while neglecting the core value of human creativity. Creativity itself is frequently viewed as an act of bravery rather than a demonstrable business advantage.

This leaves us feeling lost – a bit ‘404’. We observe entrenched, siloed departments resistant to true integration and cynical about its potential. This collective irrelevance is eroding respect for talent, the work itself, and the audiences. And, while brands are suffering from indifference, we are discussing tools capable of creating more and more of the same.

LBB> What are you proudest of as a company?

Rafael> I'm so proud of our operations design. We know that agencies are usually terrible at designing themselves, and we truly believe that the work we do stems from two factors: the team, and the work experience we're capable of creating. The fact that we can make tough decisions with just two people – thanks to our company design – is very powerful and adaptable for what's coming next. It’s a model built on humility and openness to new ideas – qualities that provide a practical advantage in navigating constant change by embracing flux rather than resisting it.

LBB> Where can we check out 404 Innovation Studio online?

Rafael> You can check out our Instagram page here