LONDON–(BUSINESS WIRE)–Sep 29, 2022–
Board, the world’s leading provider of smart planning solutions that help organizations plan smarter – enabling actionable insights and better results, today announced that Versace, the Italian fashion house that symbolizes luxury around the world , chose Board to transform its retail planning.
The Versace group distributes its products via a direct network of more than 200 directly owned boutiques and 1,500 distributors worldwide, with a turnover of more than one billion euros.
Due to evolving global sourcing challenges and changing consumer shopping habits, Versace recently revamped its retail strategy by opening new stores, strengthening its multi-channel approach and increasing investment in the efficiency of critical business planning processes.
“Board’s smart planning platform provides the flexible, easy-to-use solutions needed to support our brand innovation and growth,” said Francesco Loporcaro, IT manager at Versace. “Our Board selection was influenced by industry expertise and qualified by leading consultancy firms, demonstrating the reliability of Board’s technology. All of this proved Board’s ability to support the ambitious evolution of our planning process.
Versace turned to Board, who were already working together, to transform the global item planning process, calculating target stock levels against initial allocations. The resulting replenishment process has been made even more sophisticated by more accurate forecasts, taking into account the return rate – a crucial figure for the sector – and transfers between stores, with the ultimate aim of improving and optimize stock positions across the entire distribution chain. . Board has automated the decision process through algorithm-based planning proposals, ensuring scalability and security at every step with an intelligent planning solution.
“We are delighted that such an important brand in the luxury retail landscape as Versace has chosen Board. The omnichannel strategy combined with changing customer needs and supply chain challenges requires continuous evolution and innovation of planning processes in response to the ever-changing challenges of the retail market,” said Marco Limena, CEO of Board.
Versace is immediately recognized around the world for its synthesis of Italian culture and luxury in fashion. The brand’s deep reverence for classical arts and myth, represented by brand signifiers such as the head of Medusa and the Greca motif, meets contemporary self-confidence through a characteristic use of stimulating prints and designs. Versace is a lifestyle encompassing ready-to-wear, bags and accessories, jewelry, eyewear, fragrances, watches, Atelier Versace haute couture and home furnishings.
About the Board
Board’s Intelligent Planning Platform offers solutions that help more than 2,000 organizations around the world plan smarter, resulting in actionable insights and better results. Board helps large enterprises uncover critical insights that drive business decisions and unify strategy, finance, and operations through more integrated, intelligent planning to gain full control of performance. In partnership with Board, global companies such as H&M, BASF, Burberry, Toyota, Coca-Cola, KPMG and HSBC have digitally transformed their planning processes.
Founded in 1994, and now with 25 offices around the world, Board International is trusted by leading analysts including BARC, Gartner and IDC.
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CONTACT: Dan Chappell, Vice President of Global Communications
KEYWORD: UNITED KINGDOM EUROPE
INDUSTRY KEYWORD: SOFTWARE SUPPLY CHAIN MANAGEMENT OTHER RETAIL PROFESSIONAL SERVICES LUXURY DATA MANAGEMENT TECHNOLOGY FASHION SECURITY RETAIL OTHER PROFESSIONAL SERVICES OTHER TECHNOLOGIES CONSULTANCY
SOURCE: Board International
Copyright BusinessWire 2022.
PUBLISHED: 09/29/2022 06:22 / DISK: 09/29/2022 06:22
Copyright BusinessWire 2022.