Cortefiel: 75+ years of heritage transformed by data
Originating as a small Madrid haberdashery in the latter part of the 19th century, the Cortefiel brand has since become synonymous with the brand values of elegance, quality and comfort in European men and womenswear. Today, Cortefiel is the top brand of the global fashion group Tendam, and is positioned within one of the top three Spanish retailers and as a leading retailer within Europe with a network of nearly 300 points of sale across 34 countries.
Impact at a glance:
immediate
sales increase
weeks
from training > action
results
delivered
Why Nextail?
Holding on to history but time time to move away from legacy logic
Cortefiel had been working with the same merchandise planning logic for decades, involving large initial allocations and basic, manual store transfers for further rebalancing. This naturally led to high coverage levels and low flexibility later on in the season when inventory was tied up in stores.
But Cortefiel knew there was a better, more agile way to manage their in-season inventory. They sought a partner to help them:
- Gain deeper insight through data for decision making
- Automate merchandise planning processes to alleviate teams from manual work while increasing efficiency
Cortefiel chose Nextail due to the fashion-specific nature of the AI-driven merchandise planning solutions best suited the immediate and long-term needs of the brand. The collaboration was so successful, a few years later, the partnership expanded across to four other Tendam Group brands.
“In comparison with other tools and solutions we’ve seen, Nextail is the easiest to use and is much more user-friendly. You can clearly understand what you’re doing and the results of your choices which helps to optimize results. Other solutions we’ve seen can actually make things more complicated and confusing, which makes you less prone to wanting to use them. That’s not the case with Nextail.”
Impact
Working with the Nextail team of retail experts specialized in change management, Cortefiel began working with solutions just three weeks after training began, allowing them to internally reorganize and clarify roles, teams and ways of working.
As a result of bi-weekly transfers as opposed to the two to three traditionally carried out per season, Cortefiel points of sale were able to continue selling more products at full price up until the very end of the season.
Thanks to Cortefiel’s insight, Nextail has been able to enhance the Actual Sales Increase (ASI) functionality that reveals the true monetary value a rebalancing execution is bringing in terms of sales – a functionality benefiting all Nextail Store Transfer customers.
“We achieved higher revenue quickly because stores were able to continue selling bestsellers for longer periods, and it wasn’t just the larger stores that were benefitting. Since Nextail accounts for all stores and products, smaller stores also have the opportunity to receive and redistribute products to continue selling bestsellers that they might not be able to otherwise.”
