La Rinascente to Help Accelerate Business Transformation with Oracle® Retail Merchandise Financial Planning
Italian Department Store Retailer Selects Oracle Retail to Help Streamline Financial Planning Operations
Redwood Shores, CA .- Italian department store retailer La Rinascente has selected Oracle® Retail Merchandise Financial Planning to help enhance its merchandise financial planning capabilities and streamline its luxury and high fashion merchandising operations.
La Rinascente operates a concept store and a chain of 13 luxury department stores across major Italian cities, plus two subsidiary stores, called Jam, specialising in young people’s clothing.
The selection of Oracle Retail is considered to be a strategic investment by La Rinascente and part of a larger business transformation programme aimed at increasing revenue.
The implementation of Oracle Retail Merchandise Financial Planning is expected to provide La Rinascente with a common planning application to support the management of both pre-season and in-season plans incorporating key business indicators including sales, markdowns, receipts, inventory, gross-margin and open-to-buy.
This is expected to help La Rinascente to create high-level strategic and low-level detailed merchandise plans based on accurate demand forecast.
La Rinascente identified Oracle Retail as the strongest proposition for its department store business, providing a strategic, scalable planning system capable of delivering rapid value and supporting a high-quality shopping experience for its customers.
The first phase of implementation began in May and La Rinascente expects this to go live across its seasonal ranges later this year before rolling out the application to its permanent ranges next year.
“La Rinascente is committed to progressing its business and investing in world-class systems is an important part of our business transformation strategy,” said Alberto Baldan, General Manager, La Rinascente. “Oracle Retail will help enable us to improve our financial planning capabilities and support our business as it grows in scale and complexity.”
“Oracle is committed to supporting La Rinascente in its strategy for developing a more agile and responsive business,” said Duncan Angove, Senior Vice President and General Manager, Oracle Retail. “We look forward to applying our expertise with global department store retailers to La Rinascente’s business and helping them to improve business performance and deliver value.”
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