;
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

India should consider 100% FDI in multi-brand retail: CII

Apparel/Garments | On 17th Dec 2018

India should consider 100% FDI in multi-brand retail: CII

The Indian Government should consider permitting 100 per cent foreign ...

Courtesy:Ascena Retail Group

Apparel/Garments | On 17th Dec 2018

Ascena Retail posts net sales of $1,592 mn in Q1 FY2019

Ascena Retail Group Inc, the largest specialty retailer for women and ...

Courtesy: Lululemon

Apparel/Garments | On 16th Dec 2018

Lululemon’s net revenue up 21% in Q3 2018

Lululemon Athletica Inc, a healthy lifestyle inspired athletic...

Interviews View All

Amit Jain, Shingora Textiles Ltd

Amit Jain
Shingora Textiles Ltd

‘In terms of fabric, the fastest growing category for us is a blend of...

Md Hanifur Rahman, Aman Group

Md Hanifur Rahman
Aman Group

The level of understanding the job role and organisational requirements...

Headhonchos, Textiles & allied industry

Headhonchos
Textiles & allied industry

Textiles industry is always in the forefront in accepting latest technology

Iacopo Pardini,

Iacopo Pardini

Founded in 1953, Italian engineering company Arioli Spa started...

Lucilla Booyzen,

Lucilla Booyzen

South African Fashion Week (SAFW) is a B2B marketing platform for fashion, ...

Abhishek Pachauri,

Abhishek Pachauri

Reckon Industries is into manufacturing of textile process house machines, ...

Marcel Alberts, Eurofibers

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Kazuaki Yazawa, Purdue University

Kazuaki Yazawa
Purdue University

Scientist <b>Kazuaki Yazawa</b> has developed thermoelectric semiconductor ...

Pierre Wiertz, EDANA

Pierre Wiertz
EDANA

EDANA, the international association serving the nonwovens and related...

Robert Brunner, Devereux

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Adriano Goldschmied, AG Jeans

Adriano Goldschmied
AG Jeans

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

Silvia Venturini Fendi, Fendi s.r.l

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

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


December 2018

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

news category


Related Categories:

Advanced Search