Retail Brand Gets Lucky with Biz Transformation
After Kate Spade offloaded its Lucky Brand for $225 million, the American denim company has moved forward, transforming its operations to meet buyer expectations both on the retail and wholesale side.
Lucky Brand recently announced it has implemented NetSuite OneWorld to run business processes across its B2C and B2B wholesale operations for financial consolidation, inventory management, procure-to-pay, fixed assets, and multi-currency and multi-tax compliance management. The company sells direct to consumers via its e-commerce website and 259 retail locations, and distributes through large retail partners, including Macy’s, Dillard’s and Nordstrom.
“NetSuite's modern, cloud-based platform has helped enable our business transformation,” said Jason Richard, Lucky Brand CIO. "We’re now equipped with a highly scalable, flexible platform to streamline complex retail processes and gain complete, real-time financial and inventory visibility across the business to enable a superior omnichannel customer experience.”
Alongisde Lucky Brand's use of NetSuite, the retailer is using Bronto (acquired by NetSuite last year) for data-driven commerce marketing such as leveraging data like cart, order and product information to create automated, personalized campaigns. Coupon codes are easily created and distributed via email marketing or SMS for highly targeted, revenue-generating campaigns.
Bronto's Coupon Manager is unique in that users can use a visual editor to define the style and content of their coupon code.
Additionally, marketers can track and report on valuable metrics such as redemption rate, average redemption time and revenue/discount per coupon to tweak future campaigns and/or leverage these insights for behavioral-driven, personalized mesaging across channels. Below is what a coupon manager report looks like: