- Kristopher Fraser
-
|
LVMH, the parent company of top global luxury brands including Louis
Vuitton, Dior, and Givenchy, is optimizing its US omnichannel operation
with OneStock’s agile order management technology. OneStock is a
digital retail platform that allows brands to unify all of their stock,
whether it be in their warehouse, coming from their e-commerce channels, or
at brick-and-mortar points of sale. OneStock helps retailers commit to a
real time delivery performance helping customers know how long their
delivery will take. OneStock helps fulfill orders from the best point of
fulfillment whether it’s a store or a warehouse.
Normally e-commerce is delivered from a warehouse, but with OneStock ship
from store is an option. If multiple stores can fulfill an order, OneStock
puts them in competition with each other and the store that responds the
fastest fulfills the order. This helps drive more efficient behavior when
it comes to store management. LVMH has begun using OneStock across all
their European operations and are expanding OneStock’s functions to their
US stores.
OneStock was also recently selected to be part of LVMH’s start-up
accelerator program, and they are now pitching to every LVMH brand to help
them expand to Asia and implement supply chain operations there. OneStock’s
order management system is very customer centric, and if an order can’t be
fulfilled they will inform the customer immediately. With luxury brands
being so driven by excellent customer service experiences, this is a dire
need.
“In high end e-commerce brands struggle to mime the exclusive experience
they give customers in store,” OneStock CEO Romulus Grigorias said to
FashionUnited. “With OneStock you can try and convey the right message
before they buy the product and make sure they are satisfied. You find the
best possible product for them and once you promise to deliver, you do your
best to deliver it. That takes exquisite service.”
This has helped companies accelerate their e-commerce operations because
they have been able to increase product availability, and brands have been
able to increase their online turnover by 15 to 20 percent. OneStock
currently works for medium to large size retailers. Some of OneStock’s
younger brands they work with have been able to double their e-commerce
sales thanks to the tech company’s omnichannel approach.
OneStock’s business model is subscription based, where the cost of a
monthly subscriptions depends on how many orders go through their system,
so it is performance based. If a brand does a lot of e-commerce sales
through OneStock, which they typically do, then the payout is higher.
For retailers looking for a significant ROI, OneStock’s proven results are
sure to lead to more partnerships for the company. With omnichannel still a
growing part of retailers strategies, OneStock is an effective solution.
photo: via LVMH.com
