Celect is thrilled to share the announcement of Lucky Brand as a winner for the 2019 Retail Innovator Award because of their work with Celect to optimize inventory decision-making!
Boston, MA – May 8, 2019 – Celect is thrilled to share the announcement of Lucky Brand as a winner for the 2019 Retail Innovator Award because of their work with Celect to optimize inventory decision-making! Retail TouchPoints (RTP), the industry's go-to source for the latest retail trends, strategies and technology innovation, has announced the 2019 Retail Innovator Award winners and names Mike Relich, Chief Operating Officer at Lucky Brand, and Miles Barger, Vice President of Merchandise Planning, Allocation, and Inventory Optimization at Lucky Brand, as winners in the category of Data Guru.
In its sixth year, the Retail Innovator Awards honor retail executives and thought leaders who:
“[T]hink outside the box to develop and foster innovative concepts and strategies that help move the overall retail industry forward.”
There were 100 nominations in total and the list of 18 winners was announced at today’s Retail Innovation Conference in New York City. Those who attended the event heard directly from Miles Barger, who shared Lucky Brand’s success story on using advanced analytics to optimize allocation and store fulfillment using Celect.
How Lucky Brand Optimized Allocation & Fulfillment with Celect
As part of a strategic effort to diversify its denim apparel roots and manage a vibrant collection of lifestyle products, Lucky Brand made an aggressive push to grow its multi-channel distribution network and build a complex e-commerce network – placing strong emphasis on inventory optimization. Recognizing the limitations of historic allocation and fulfillment processes, the brand implemented Celect, a predictive analytics SaaS platform that helps retailers optimize inventory decisions on what and how much to buy, where to place inventory, and where to fulfill from.
Today, Lucky Brand can confidently predict which styles should go to which stores and put inventory in the right place, and readily pull from stores for order fulfillment while avoiding out-of-stocks and excess inventory. Working with Celect, Lucky Brand has embraced a new (and much more profitable) way to manage inventory for both its in-store and online customers—a win across all channels.
About Mike Relich, COO at Lucky Brand
Michael G. Relich is the Chief Operating Officer of Lucky Brand. He is responsible for leading Lucky Brand’s operations and driving long-term strategic growth initiatives. Prior to Lucky, Mr. Relich served in various COO roles for brands such as Crate and Barrel and Guess, Inc. Mr. Relich, a 2013 MIT CIO Leadership finalist, also served as the CIO for GUESS?, Inc., where he was responsible for building the system infrastructure that enabled the Company to grow from a $640 million North America-centric business in 2004 to a $2.3 billion global operation with over 1,700 stores in 87 countries today. Mr. Relich has more than 30 years of retail operations and systems experience.
About Miles Barger, VP at Lucky Brand
Miles Barger is the Vice President of Merchandise Planning, Allocation, and Inventory Optimization at Lucky Brand. He is responsible for Lucky Brand’s Planning organization; tasked with maximizing inventory across the Specialty (Full Price), Outlet, and E-Commerce Channels. Miles joined Lucky Brand in 2018 as Vice President, Store Analytics, with a focus on Store Clustering, CC and size offer rationalization, Merchandise System implementation, and Ship from Store fulfillment. Prior to Lucky Brand, he spent 11 years in various leadership roles at J.Crew, including Vice President, Store Planning (Retail and Factory). His 21-year retail career also includes Children’s Place, Old Navy, and Petco.
About Lucky Brand
Founded in Los Angeles with a focus on heritage denim, Lucky Brand has embodied the independent spirit and lifestyle of our hometown for over 25 years. Vintage-inspired jeans, broken-in graphic tees, classic leather motorcycle jackets, and bohemian styles all capture the laidback vibes and authenticity of Lucky. Our designers specialize in updating premium denim, working with technical fabrics and beautiful washes to create truly unique jeans that feel great, no matter who you are. At Lucky, we uphold high standards of craftsmanship, and the care and passion that goes into every detail is what allows our clothing to tell a story and celebrate individuality. We’ve come a long way from that first pair of jeans we made in 1990, and in our clothes, you’ll look, feel, and stay Lucky.
About the Retail Innovator Award
Retail Innovators are defined as retail executives and thought leaders who think outside the box to develop and foster innovative concepts and strategies that help move the overall retail industry forward. Award recipients may include retail company executives, bloggers/authors, or industry association executives. Nomination criteria encompassed three areas, including 1) the emerging retail area the executive helped to advance, 2) specific innovative retail strategy or idea conceptualized and/or launched, and 3) business results or positive outcomes, or expected results, following a successful implementation of the innovative strategy or concept.
Want to learn more about Lucky Brand's work with Celect?
Access to the full case study on how Lucky Brand leveraged AI with Celect to improve store fulfillment and merchandise allocation.
Celect offers a cloud-based, predictive analytics SaaS platform that helps retailers optimize their overall inventory portfolios in stores and across the supply chain, resulting in double-digit percentage revenue increases. This groundbreaking advance in machine learning and optimization allows retailers to understand how an individual customer shopping in store or online chooses from an assortment of products, revealing true demand. The technology builds on a fundamental advance in customer choice modeling called by MIT's Computer Science and Artificial Intelligence Laboratory one of the 50 greatest innovations it has ever produced. See your ROI from optimized inventories: www.celect.com/roi
Connexa Communications for Celect