TXT Retail, provider of end-to-end planning solutions in retail, announces that TAKKO, one of Europe's fastest growing fashion retailers, has selected TXTPlanning to support all its retail planning processes, from financial merchandise planning to assortment and in-season planning.
TAKKO is applying the TXT AgileFit deployment methodology, which provides reference processes and a full set of documentation that accelerates the deployment and time to achieve benefits.
"The project with TXT is part of our strategy to establish a customer-driven, integrated merchandise management process. Our objective is to move from a traditional push model to a pull approach, where customer demand and insights coming from the market drive assortment decisions. The TXTPlanning solution will help us achieve higher visibility on demand and more optimally cluster our stores," said TAKKO's CEO Michael Strehler.
From its origins as a small, regional fashion retailer to an established value fashion retailer, for over 30 years, TAKKO has never stopped growing and evolving. Today, with approximately 1,900 stores and €1billion turnover, TAKKO is a household name in 16 European countries and Russia.
TXTPlanning will support TAKKO in localising assortments through differentiating store plans which take into account marketing and store-specific events. The software will also be used for merchandise financial planning, setting targets and determining the best path to higher profitability. Most critically, TXTPlanning will be used to drive out the assortments, which, combined with store clustering, will create market appropriate collections which will then drive the sourcing and product development requirements. Lastly, forecasting, allocation and replenishment round out the offering, optimising the in-season planning processes.
"We selected TXT because it covers the entire planning process from end-to-end in one single environment; but also for the usability of the solution, which combines the simplicity of an Excel interface with the power of a sophisticated planning tool. Also, the AgileFit methodology and best-practices proposed, simply matched our needs. AgileFit will accelerate deployment times helping us stay on schedule with our planning and business calendars," said Thomas Rothe, Senior Director Planning & Allocation at TAKKO.
Expected benefits of the project include: improved services levels from having the ideal assortments to match customer needs; optimised inventories and better use of working capital; as well as a better understanding of demand that will help maximise bestsellers, prevent overstocks and reduce markdowns. The end-to-end planning capabilities of the TXT solution will also help TAKKO further improve transparency, providing one view of information and relevant performance measures.
"We are proud to be working with a fashion leader and talented team such as TAKKO's, and to support their vision to become ever more customer-driven. Creating customer focused assortments for fast-moving merchandise requires driving products through the initial concept stages through to delivery in a very fast and efficient manner. Fashion retailers such as TAKKO recognise the value of our solutions in providing the end-to-end integration, visibility and advanced planning capabilities that are key enablers to this strategy," concludes Simone Pozzi, EVP Managing Director at TXT Retail.