● Concept Group brands leverage AI automation for allocation, replenishments, store transfers, and in-store task management.
● Concept Group leverages Nextail solutions across more than 200 stores and ecommerce channels
MADRID/ST. PETERSBURG, October 2020: Concept Group, a group of leading Russian brands in kidswear, womenswear, and lingerie partners with Nextail to help drive digital transformation in its brands’ core merchandising operations.
Powered by artificial intelligence and prescriptive analytics, Concept Group uses Nextail solutions to increase operational efficiency across replenishment and distribution processes to better meet hyper-local demand and reduce waste.
Nextail supports the three brands owned by Concept Group, Concept Club, Acoola, and Infinity in over 100 cities across Russia and in more than 200 stores as well as the group’s ecommerce channels. Using Nextail’s distribution solutions, Concept Group brands can best align supply and demand throughout their products’ lifecycle.
Concept Group brands can also centralize product metrics visibility across their store network and channels, ensuring high availability and low inventory in all stores. Additionally, at store level, staff uses the Nextail Store App which will enable them to more easily carry out daily tasks in order to better serve customers.
Forward-thinking Concept Group was looking for a solution that would not only allow them to update their merchandising capabilities, but one that would also allow them to digitize their organizational processes from the inside out. Concept Group chose Nextail due to its highly advanced probabilistic forecasting capabilities, the fashion expertise of the Nextail team, and Nextail’s strong reputation as a transformative technology within the retail industry.
Concept Group expects that by 2021, Nextail will be able to increase sales by 5%, reduce stock levels by up to 12% and automate decision-making behind inventory management processes.
“We chose Nextail because it is known for its level of sophistication and its potential to disrupt an industry that needs it more than ever”, says Elena Bogomolova, Concept Group’s CEO. “Implementing Nextail is aligned with our overall objective of actively bringing about the transformation we need at both organizational and operational levels to prepare our business for a data-driven future. Nextail will help us achieve this goal.”
“We are very proud to be working with a partner as strong as Concept Group, helping them to digitize and transform their fashion retail operations,” says Piotr Podsiadlo, Nextail Region Leader of Central & Eastern Europe. “Concept Group has placed great trust in Nextail, and we are fully committed to delivering innovative solutions that Concept Group will continue to benefit from for many years to come.”
About Concept Group
Concept Group operates under a multi-brand and multi-channel business model, which ensures a stable growth of revenue due to diversification of proceeds. A professional team of fashion designers located in the company’s main office in St. Petersburg is in charge of developing collections for all brands of the Group.
Manufacturing takes place at partner factories in China, Bangladesh, India and Russia, with mandatory quality control. Concept Group is one of the assets of Sistema Public Joint Stock Financial Corporation and Sberbank of Russia.
Nextail is a fast-growing tech company that leverages advanced analytics and AI to empower fashion brands and retailers to sell more with less stock through hyper-demand forecasting and agile process automation.
Founded by fashion retail experts in 2014, Nextail calls more than 25 global retailers customers, including major fashion brands such as River Island, Versace, and PepeJeans. Headquartered in Madrid, Spain, the team is now formed by more than 90 retail, technology, and operations professionals and has offices in Spain, Russia, Italy, the UK, and the US.
Nextail was named a 2020 World Economic Forum Technology Pioneer for contributions toward creating responsible models of consumption for the benefit of business and society.
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