Home / Knowledge / News / Information Technology / Luxury fashion firm scales business with NetSuite OneWorld
Luxury fashion firm scales business with NetSuite OneWorld
06
Sep '17
Courtesy: Netsuite
Courtesy: Netsuite
Oracle NetSuite, a leading provider of cloud-based financials / ERP, HR, Professional Services Automation (PSA), and omnichannel commerce software suites, has announced that Lfplaza Group, a wholesale distributor of luxury and designer fashion clothing, bags, shoes and accessories, has scaled its Hong Kong business since deploying NetSuite OneWorld in 2012.

NetSuite’s unified cloud business management platform has given Lfplaza scalability and agility as its business has soared from the start-up phase to $300 million HKD (about $38.4 million USD) in revenue in just five years.

Oracle NetSuite OneWorld powers end-to-end processes for Lfplaza’s sales of goods from more than 100 brands to a network of over 600 wholesale clients and about 40 regional multi-brand boutiques across Hong Kong, mainland China, Taiwan, Japan, South Korea, Singapore, Malaysia, Indonesia, Thailand, and Vietnam.

As a cloud-based system, NetSuite enables Lfplaza to avoid the high capital expenditures of servers and software needed with traditional on premise business systems. Ease of use, efficient workflows, and high visibility into mission-critical data have allowed the company to minimise administrative and operational costs and instead focus new hires on revenue-driving sales and marketing activities.

Implementation and optimisation by NetSuite Solution Provider Fern Limited, in Hong Kong, has helped Lfplaza make the most of its NetSuite OneWorld solution as usage evolved from inventory to accounting and CRM.

NetSuite gives Lfplaza real-time visibility into tens of thousands of SKUs, particularly important as new products are constantly added. It also helps Lfplaza account for subtle variations in products, such as shiny vs. matte leather for the same handbag.

Lfplaza makes extensive use of NetSuite’s reporting and analytics capabilities to track revenue and product sales by brand, type of goods, gender, regions, and other dimensions. Insights derived are vital to Lfplaza’s ability to adapt the business and product line-up as needed.

NetSuite has helped Lfplaza achieve business agility, better manage brand and customer partnerships, and optimise inventory and pricing in the fast-paced and rapidly changing luxury fashion market.

NetSuite OneWorld lets Lfplaza easily transact in currencies including Hong Kong, Australian and US dollars, Chinese renminbi, British pound, Japanese yen, New Taiwan dollar and the Euro, and manage three subsidiaries with efficient financial consolidation. NetSuite CRM gives Lfplaza sales staff a unified record of all customer account, interaction and order history information to help drive sales and provide a superior customer experience. (GK)

Fibre2Fashion News Desk – India


Must ReadView All

Courtesy: American & Efird

Textiles | On 20th May 2018

A&E introduces Repel

American & Efird (A&E), a global leader in industrial sewing thread...

Archroma working with House of Denim Foundation

Textiles | On 20th May 2018

Archroma working with House of Denim Foundation

Archroma, a leader in colour and specialty chemicals, has joined...

Courtesy: Amazon

Textiles | On 20th May 2018

Amazon opening first fulfillment centre in Tucson

Amazon.com is opening its first fulfillment centre in Tucson, which...

Interviews View All

Arvind Saraf
Triveni Sarees

e-Commerce is still evolving fast with constant flux and surprises

Neel Sawhney
One Friday

‘The share of kidswear segment in the online sector is still small in...

Subhashini Srinivasan
The S Studio

Ethnicwear market will see an upward trend if uniqueness and quality are...

Akshat Chaudhary

Aizome, Asia's first Fairtrade denim brand, is all set to launch next...

Tejas N Patel, Navin D Patel

Founded in 1999 by Navin Patel in the name of Tejas Fabrics with 100...

Tom Adeyoola

Describing itself as the best body shape and garment fit company in the...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Adriano Goldschmied
AG Jeans

The hype around 'designer jeans' was created by him. And the new wave of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


May 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search