With Oracle Retail cloud services merchandise financial planning, assortment and item planning, Prada will optimise its merchandising process including sales and forecasts, performance analysis, margin, open to buy, inventory management, supply chain, and inventory allocation. Implementing this solution will lead to a more informed analysis of Prada’s KPIs and a greater ability to set new targets and allocate more precise budgets, Oracle said in a press release.
Prada will also be able to strengthen its customer relations at the point of purchase with Oracle Retail customer engagement cloud service and Oracle Retail xstore point of service. The two solutions will provide real-time visibility into all customer-related details across every touch point, offering a personalised shopping experience.
“By integrating Oracle’s advanced digital technologies with our operations, we will be able to unlock increasing value within our business and offer further opportunities to our global customer base. Our collaboration with Oracle is part of our wider strategy focused on enhancing our group with a strong investment in technology to boost operational efficiency and effectiveness,” said Lorenzo Bertelli, Prada group head of marketing and communication.
“For luxury brands, delivering a unique and positive brand experience is paramount,” said Mike Webster, senior vice president and general manager, Oracle Retail. “Whether they are shopping in Milan, San Francisco or online, Prada’s customers expect that inventory will be fresh, current and available. With Oracle, the company will be able to better understand and anticipate customer demand and optimise inventory assortments accordingly to ensure every brand connection results in a satisfied customer.”
The Prada Group is a world leader in the luxury goods sector, where it operates with the Prada, Miu Miu, Church’s and Car Shoe brands in the production and distribution of handbags, leather goods, footwear, apparel and accessories. (PC)
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