Quantum Retail is awarded the 2008 Retail Systems Supply Chain Solution of the Year Award for its work with leading EMEA fashion retailer, New Look.
LONDON, UK – November 17 2008. Since 2007, Quantum’s Q solution has been used by New Look to manage its inventory replenishment and allocation processes across its 600 locations. Having increased its retail space by 20% and diversified into online and franchise channels, New Look were seeking a superior replenishment solution to improve management of store/SKU demand and supply.
As well as Q’s ability to help New Look manage and maintain its stock levels and provide visibility across the entire organization, the judges were impressed with Q’s return on investment: going live in under seven months and paying for itself five months later.
Speaking after the award was announced at London’s Grosvenor House, Quantum CEO Tarik Taman said, “In Q we’ve created a next generation inventory fulfillment module that determines inventory need anywhere in the supply network. We’re very proud of what we’ve achieved but most importantly of what our clients have achieved.”
After less than 6 months of operation, New Look was able to realize an increase in full price sales across the estate by 2%, with less stock. At the same time by reducing markdowns, gross margin increased by 4%.
New Look’s Executive Chairman Phil Wrigley commented “Q has enabled New Look to move our supply chain from being buy driven to customer driven, whilst delivering impressive financial results. It is truly first class.”
About Quantum Retail Technology, Inc.
Quantum Retail answers the new questions facing retailers with a merchandise optimization suite designed for the increasing pace and complexity of the consumer revolution and today’s competitive landscape. Quantum Retail’s solutions solve the most difficult and costly problems retailers face – quickly and permanently. Our Q solution is the answer for: Forecasting and Order Planning – Replenishment and Allocation – Assortment and Range Planning.
About New Look
- New Look has 604 stores in the UK and Eire, and 265 stores in France & Belgium trading under the name Mim. In addition, New Look has 19 New Look branded stores in France and Belgium, and has recently opened 16 franchise stores in Dubai, Kuwait and Saudi Arabia.
- New Look has a volume share of 5.6% in the Women’s Outer/Sportswear age 16 market, and is the 3rd largest retailer by volume in this market.
- New Look also has a growing market share in Mens & Kidswear.
- New Look is now the number 1 retailer of women’s shoes in the UK by volume, with a market share of 7.4%. (Source – TNS).
- 38% of the British female population has purchased an item of Womenswear** from New Look in the past year (52 w/e 30th March 2008). This amounts to just under 9.2 million individuals. The average age of shoppers in New Look is 31.
- Further information can be found on http://www.newlook.co.uk and Product and Management photos are available upon request.
**includes Women’s Outer/Sports, Nightwear, Underwear, Hosiery, Footwear & Accessories
