lucky brand a case study - boomi · 2020-04-23 · a case study. 25.8 million incremental revenue ....
TRANSCRIPT
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LUCKY BRAND
A CASE STUDY
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25.8 MILLION INCREMENTAL REVENUE
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25.8 MILLION INCREMENTAL REVENUE
IN A SINGLE YEAR
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25.8 MILLION INCREMENTAL REVENUE
IN A SINGLE YEAR
AND WHY IT TOOK TOO LONG
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WE ARE BUILDING A RELIGION,
WE ARE BUILDING IT BIGGER,
WE ARE WIDENING THE CORRIDORS
AND ADDING MORE LANES…
-CAKE, COMFORT EAGLE
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A BRIEF HISTORY
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2015…
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2016…
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2017…
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A 700 MILLION DOLLAR
SOFTWARE COMPANY…
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URBAN RETAIL THESAURUS
Traditional Retail
• “My business…”
• Warehouse
• Customer Centricty
• Effort
• Growth
• Channel
• Review feedback
• “My Inventory”
• Wholesale vs. Retail
• Quarter
A Software Company
• The Product/Tool
• Cloud
• Personalization
• Sprint
• Agility
• Brand
• Machine Learning
• A Location
• Why?
• 2 Weeks
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A FEW OF MY FAVORITES
Traditional Retail
• Risk
A Software Company
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A FEW OF MY FAVORITES
Traditional Retail
• Risk
A Software Company
• Research
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A FEW OF MY FAVORITES
Traditional Retail
• Risk
• Pain
A Software Company
• Research
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A FEW OF MY FAVORITES
Traditional Retail
• Risk
• Pain
A Software Company
• Research
• Innovation
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A FEW OF MY FAVORITES
Traditional Retail
• Risk
• Pain
• Execution
A Software Company
• Research
• Innovation
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A FEW OF MY FAVORITES
Traditional Retail
• Risk
• Pain
• Execution
A Software Company
• Research
• Innovation
• Minimum Viable Product
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A FEW OF MY FAVORITES
Traditional Retail
• Risk
• Pain
• Execution
• Stupidity
A Software Company
• Research
• Innovation
• Minimum Viable Product
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A FEW OF MY FAVORITES
Traditional Retail
• Risk
• Pain
• Execution
• Stupidity
A Software Company
• Research
• Innovation
• Minimum Viable Product
• Positive Disruption
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WHAT GOT US HERE?
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A SIDE NOTE…
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BUZZWORDS ARE KILLING
OUR INDUSTRY
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SOFTWARE SALESMAN ARE NOTORIOUS
FOR USING THIS WORD…
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EASY VS. FAST
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THE LAW OF MOTION…
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GRADUALLY THEN SUDDENLY…
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BACK TO THE STORY
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100 DAYS
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(NONE OF IT WAS EASY)
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WE WERE TALKING ABOUT SOLUTIONS TO
PROBLEMS WITH TECHNOLOGY WE DIDN’T
EVEN KNOW EXISTED
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LAW OF DIMINISHING RETURNS
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SOUNDS INNOVATIVE, DOESN’T IT?
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IT WASN’T
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FEAR BASED DECISIONS
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THINGS THAT DIDN’T GAIN VALUE
• Limiting inventory
• Limiting rollout
• Limiting time
• Expansion
• Hypersensitivity
• Reduced sales
• Reduced sales
• Reduced sales
• Starting over
• Waste
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ALIGN ON DISRUPTION
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GO LIVE DAY
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“A DISASTER”
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A BEAUTIFUL DISASTER
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LESSONS LEARNED
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THE TECHNOLOGY WILL GUIDE YOU
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BOOMI HELPED MAKE IT POSSIBLE
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Connected Business: Better, Faster, Smarter
Connect
Everything
Engage
Everywhere
Run
Anywhere
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THE LAWS OF
DIMINISHING RETURNS
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COOL IS ECONOMICAL
WOW IS NOT
KEEP IT SIMPLE
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SPEED IS EVERYTHING
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SHIP FROM STORE
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SHIP TO STORE
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ESTOCKROOM
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OUTLET ESTOCKROOM
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CANADA
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IT’S NOT AS HARD AS YOU THINK
SIMPLE PRODUCT
MINIMUM VIABILITY
ITERATIVE GROWTH(THROUGH ACQUISITION, NOT RELEASE)
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IT’S AN INVENTORY PLAY
MORE PRODUCT AVAILABILITY
=
MORE SALES
=
SAME COST
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ISN’T IT IRONIC?
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ISN’T IT IRONIC?
IT’S JUST A RISK REDUCTION PLAY
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THE DREAM
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BUILD A REALLY GOOD FULFILLMENT
NETWORK AND THEN SELL IN A LOT OF
PLACES AND THEN YOU’LL LEARN THE
MEANING OF EXPONENTIALIZATION
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