Netherlands Co Vendex picks Oracle Retail Price Optimization solution
14 Oct '05
3 min read
Oracle announced that Vendex KBB, the largest non-food retail group in the Netherlands, has selected the Oracle Retail Price Optimization solution to enhance the management of existing and new merchandise each season and to make timely decisions on in-season inventory, while helping to increase profitability.
The retailer's portfolio of department stores, variety stores and specialty stores includes over 10 high- profile brands in The Netherlands, Belgium, France, Luxembourg, Denmark, Germany and Spain.
With over 1,700 stores, the Vendex KBB portfolio includes DIY retailers, Praxis, Formido, Brico and Brico-Planet; the variety store, HEMA; department stores, V&D and de Bijenkorf; international apparel retailers, M&S, Hunkemoller and Claudia Strater and the consumer electronic formats Dixons and Dynabyte.
Vendex KBB was acquired in 2004 by a consortium of investment firms led by KKR and this project was identified as one of the key strategic initiatives to help Vendex KBB better understand the performance of individual item sales within its stores. The retail group wanted to create a process whereby pricing decisions were directly aligned with consumers' buying behavior and executed on real-time data.
To achieve this goal, Vendex KBB selected the Oracle Retail Price Optimization solution because of its clear value proposition, proven track record across the world and rapid return on investment. It will enable Vendex KBB's buyers, planners and merchants to make strategic decisions on a variety of areas that directly impact profitability and customer service.
marketing@alchempro.com
