NetSuite Cloud Gives Fashion Retailer the Foundation to Fuel B2B and B2C Business Growth
NetSuite Inc. (NYSE: N), the industry’s leading provider of cloud-based financials / ERP and omnichannel commerce software suites, today announced that Lucky Brand, a leading designer and manufacturer of premium denim jeans and other apparel, has implemented NetSuite OneWorld to gain the agility, flexibility and scalability it needs to fuel both its retail and wholesale business growth. Lucky Brand also uses the Bronto Marketing Platform from Bronto Software, a NetSuite company, for its commerce marketing automation to deliver timely, relevant and data-driven digital marketing.
Lucky Brand uses NetSuite OneWorld to run its mission-critical business processes across its B2C and B2B wholesale operations for financial consolidation, inventory management, procure-to-pay, fixed assets, and multi-currency and multi-tax compliance management. The company sells direct to consumers via its ecommerce website and 259 retail locations, and distributes through large retail partners, including Macy’s, Dillard’s and Nordstrom.
When a private equity firm took Lucky Brand private in 2014, the company needed a quick transition off its legacy ERP platforms. Lucky Brand evaluated traditional on-premise ERP products, but NetSuite OneWorld emerged as the only solution providing the agility and flexibility needed to help continue the company’s self-sufficient growth. Lucky Brand chose NetSuite for:
- A single platform with a broad range of functionality to provide the foundation needed to run complex and mission-critical business processes across multiple subsidiaries for both its retail and wholesale businesses.
- A cloud-based solution implemented in months vs. years, speeding time-to-value and creating significant IT savings.
- Accurate and real-time visibility across all business entities and subsidiaries, generated from a single data repository.
- The agility, scalability and flexibility needed to enter new markets, expand operations and grow revenue.
“NetSuite’s modern, cloud-based platform has helped enable our business transformation,” said Jason Richard, Lucky Brand CIO. “We’re now equipped with a highly scalable, flexible platform to streamline complex retail processes and gain complete, real-time financial and inventory visibility across the business to enable a superior omnichannel customer experience.”
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NetSuite OneWorld delivers transformative power to global companies of all sizes with any business model (B2B, B2C and B2Anything), giving them the agility and flexibility to adapt to the rapidly changing world of modern business. NetSuite OneWorld gives today’s companies the ability to expand and transform their organizations and reinvent their business models to meet the ever-changing demands of their markets and the expectations of their customers. With support for 190 currencies, 20 languages and automated tax compliance in more than 100 countries, NetSuite delivers the following key features and benefits to Lucky Brand:
- Native cloud solution. With NetSuite’s cloud platform, Lucky Brand is free from the costs and complexities associated with managing, patching and upgrading on-premise software and hardware. No longer having to deal with version lock, Lucky Brand receives the benefits of all software upgrades. In addition, any customizations needed to support the unique needs of Lucky Brand are automatically migrated.
- Multi-location inventory management. Lucky Brand can view the physical location of goods and approximately 150,000 SKUs in real time across its wholesale and retail businesses to meet the evolving needs of its customers.
- Data-driven commerce marketing. With Bronto, Lucky Brand uses data such as cart, order and product information to create automated, personalized campaigns. Coupon codes are easily created and distributed via email marketing or SMS for highly targeted, revenue-generating campaigns.
- Dramatically improved business efficiency. The company has streamlined mission-critical business processes across its inventory management, finance, reporting and procurement operations.
- Real-time reporting and analytics. Lucky Brand uses NetSuite Financial Planning to automate budgeting, forecasting, reporting and analysis.