- 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