Abercrombie & Fitch Renews Contract With GT Nexus, Expands Commitment To Cloud Supply Chain
Apparel and Retail Leader to Orchestrate Global Trade on an Automated Cloud Platform that Connects Buyers, Sellers and Service Providers
Abercrombie & Fitch has extended its contract with GT Nexus to expand its cloud supply chain strategy and improve visibility into the movement of orders, payments and goods. Since 2010, the lifestyle brand company has used the GT Nexus platform to support international sourcing and supplier collaboration.
Abercrombie & Fitch operates 1,053 apparel stores in 20 countries across four unique lifestyle brands – Abercrombie & Fitch, abercrombie kids, Hollister Co., and Gilly Hicks. The retailer operates distinct e-commerce sites for each of its four brands. Abercrombie & Fitch’s net sales for the fifty-three weeks ended February 2, 2013 increased 8% to $4.511 billion from $4.158 billion the prior year. Total international sales, including direct-to-consumer sales, increased 36% to $1.424 billion. Total Company direct-to-consumer sales, including shipping and handling, increased 27% to $700.7 million.
“GT Nexus simplifies the way we manage global commerce and allows us to work in a transparent, efficient environment,” said Larry Grischow, Group Vice President Supply Chain for Abercrombie & Fitch. “We are able to transact more efficiently with suppliers around the world in ways that simply weren’t possible previously. We have fewer people answering calls from factories and handling paper invoices, and more staff focused on strategic initiatives to support our growth.”
In fiscal 2013, Abercrombie & Fitch expects to open a flagship retail location in Seoul, as well as approximately 20 international Hollister stores.
“Abercrombie & Fitch is a brand that has just taken off globally in recent years,” said Sean Feeney, CEO of GT Nexus. “As they expand into new markets, open new stores and process greater volumes of orders, they have the advantage of a cloud-based supply chain platform that’s scalable and flexible. This allows Abercrombie & Fitch to handle more business without adding resources or offices around the world to keep up with its growth.”
Abercrombie & Fitch automated its procure-to-pay process in the cloud using GT Nexus to create a transparent workflow environment for purchase orders, invoices, amendments and settlements. The platform has allowed the retailer to grow its number of stores overseas without adding new staff or resources to its supplier-facing team.
About GT Nexus
GT Nexus operates the world’s largest cloud-based business network and execution platform for global trade and supply chain management. Over 25,000 businesses across industry verticals, including adidas Group, Caterpillar, Citi, Columbia Sportswear, DHL, Electrolux, Levi Strauss & Co., Kohl’s, Nestlé, Pfizer, Renault, and Sears share GT Nexus as their standard, multi-enterprise collaboration platform. This enables all network participants to operate against a core, real-time and always on set of information across multiple supply chain functions, allowing them to optimize the flow of goods, funds and trade information, from the point of order through final payment. For more information, visit www.gtnexus.com.
SOURCE: GT Nexus