Home / Knowledge / News / Information Technology / OmniaLuo installs state of the art inventory sytems
OmniaLuo installs state of the art inventory sytems
07
Mar '08
OmniaLuo Inc, a China-based company engaged in the business of designing, developing, marketing and distributing fine women's apparel under the brand name OMNIALUO, announced today that it has commenced the implementation of a state-of-the-art inventory system throughout all of its retail stores in China.

This new system will consolidate the inventory management of all stores into one automated platform, enable real-time inventory tracking and facilitate more efficient transfer and delivery of merchandise between locations and customers. OmniaLuo has successfully implemented this new system into 72 of its 156 stores, with an additional 20 stores to be upgraded by the end of the first quarter. The remaining stores will be upgraded later in 2008.

Contemporaneous with the closing of the reverse acquisition in October 2007, OmniaLuo completed a private placement of common stock and warrants to certain accredited institutional investors and other high net-worth individuals for gross proceeds of $6.15 million.

As part of the use of proceeds, OmniaLuo allocated $0.4 million for the implementation of a new inventory sytem to enhance inventory management and improve operational efficiency. This capital expenditure fulfills OmniaLuo's use of proceeds commitment as promised to PIPE investors and supports the Company's growth strategy of capturing greater market share of China's $25 billion women's apparel industry.

"The implementation of this state-of-the-art inventory system represents a cornerstone of the infrastructure necessary to enable our Company to continue its rapid growth in the domestic market and beyond," stated Cindy Luo, Chairwoman and Chief Executive Officer of OmniaLuo. "These operational efficiencies will decrease our inventory holding costs and increase gross profits," added Ms. Luo.

OmniaLuo Inc


Must ReadView All

Apparel/Garments | On 23rd Sep 2017

AAFA urges negotiators to preserve TPLs in NAFTA

The American Apparel & Footwear Association (AAFA), an alliance of...

Textiles | On 23rd Sep 2017

SIMA urges Centre to re-look duty drawback rates

he Southern India Mills’ Association (SIMA) has appealed to the...

Textiles | On 23rd Sep 2017

PKR 690.65-mn budget for Pakistan Cotton Committee

The Pakistan Central Cotton Committee (PCCC) recently approved a PKR...

Interviews View All

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Priyanka
Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Steve Cole
Xerium Technologies

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

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

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

September 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search