Fashion as a business is complex owing to the constantly changing design trends, low depth of buying, diverse sizes, and very long lead time from design to customer. These complexities make it difficult for the brands especially the buying, planning and merchandising functions to predict the demand accurately in a timely fashion and at an optimum level (for ex., how will checkered shirts in the price range of USD 150 – 200 perform at a store in Madison Avenue in NYC).
Though brands have set processes in place to deal with the difficulties of estimations and projections of their business, they are limited by the unavailability of the right tools and technology to do it at a granular level. This leads to situations like unexpected built up of inventory or stock out of inventory forcing the brands to adopt liquidation measures and thereby hurting their top lines and margins.
Researched and built by a team of experts with vast experience in the Retail industry, IRIS is an intelligent end-to-end merchandising tool designed to meet the ever-evolving unique needs and demands of the fashion brands. By using IRIS brands can potentially see
- 20 to 25% revenue uplift
- 4 to 5 % margin uplift
- 15% higher full-price sell-through
- 25% lower inventory holding
IRIS assists Fashion brands with their pre-season and in-season tasks starting from the Design phase to the End of Season Sales through different inbuilt modules like:
- Assortment Plans for each store (offline/online)
- Buying Plan (OTB)
- Distribution (Initial launch and Replenishments)
- Business Intelligence
- End of Season Planning/ Distribution