Credit: Lfplaza facebook
Lfplaza Group -- Hong Kong's wholesale distributor of luxury and designer fashion clothing, bags, shoes and accessories -- is using Netsuite's OneWorld to better manage its end-to-end business processes.
Deployed in 2012, the unified cloud business management platform has enabled Lfplaza to scale and be agile, which led the company to grow from a startup to a US$38.4 million business in five years.
This is because Netsuite Oneworld helps Lfplaza optimise inventory and pricing, as well as better manage brand and customer partnerships.
For instance, it provides real-time visibility into the distributor's stock keeping units (SKUs) and helps the company account for subtle variations in products (eg. shiny versus matte leather for the same handbag).
It also allows Lfplaza to better track revenue and product sales, enhancing the wholesaler's ability to adapt the business and product lineup when necessary.
Besides that, the solution offers a unified record of all customer accounts as well as interaction and order history information, to help Lfplaza's sales staff deliver a good customer experience and drive sales.
According to Lfplaza, it replaced the previous entry-level accounting system with Netsuite as it needed an integrated system that could support its business growth. "NetSuite gave us room to grow; we've been able to scale dramatically without adding too many staff," said Jack Tsao, Lfplaza's CEO.
"The fashion inventory moves very fast with increasing velocity and sophistication every year. With Netsuite OneWorld,it's very easy to adapt, customise processes, stay current and explore all business channels and marketing opportunities out there so we can continue to scale," he added.
Netsuite now powers end-to-end processes for Lfplaza's sales of goods from more than 100 brands to a network of over 600 wholesale clients and about 40 regional multi-brand boutiques across Hong Kong, mainland China, Taiwan, Japan, South Korea, Singapore, Malaysia, Indonesia, Thailand and Vietnam.