ToolsGroup and Scarpe&Scarpe to Present at upcoming eP Summit, April 9-10, Florence, Italy Scarpe&Scarpe Reveals How ToolsGroup’s AI-Driven Solutions Transformed Business Operations, Optimizing Margins and Eliminating Overstock
Boston, MA and Milan, Italy
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March 28, 2024 09:00 AM Eastern Daylight Time
ToolsGroup is excited to announce our participation in the upcoming eP Summit 2024, the Pitti Immagine event focused on the relationship between fashion and the digital world in Florence, Italy, on April 9-10. Additionally, we are thrilled to highlight the presence of one of our top retail customers in Italy, Scarpe&Scarpe, who will share their success story.
Marcello Pace, CEO of Scarpe&Scarpe, a major player in the retail of shoes and leather goods with over 100 stores across Italy, will discuss how the company is transforming its merchandising processes by integrating ToolsGroup’s AI-powered solutions. This revolutionary approach has enabled Scarpe&Scarpe to optimize margins while minimizing overstock, resulting in significant business improvements.
Pace first saw the value of the ToolsGroup solutions at the time when he was CEO of PittaRosso, another large Italian retailer of shoes, an experience which has eventually been published as a Harvard Business School case study. Facing the challenge of overstock and the need to enhance sell-through rates, PittaRosso implemented an automated markdown optimization solution leveraging historical sales data, comprehensive market insights, and inventory analytics. Within just two months of adopting ToolsGroup’s AI-driven solution, PittaRosso experienced a remarkable +14.3% increase in sell-through, alongside improved inventory efficiency, contributing to a €4.2 million boost in the overall margin. Pace’s success in generating growth for PittaRosso through revolutionary AI was the foundation for his vision towards achieving a similarly transformative impact at Scarpe&Scarpe.
Marcello Pace commented, “We urgently needed a strategy to maximize margin and sell-through rates. Within just months, ToolsGroup’s AI-powered solution provided tangible results, perfectly aligning with our inventory and growth objectives. Embracing digital transformation is crucial for our brand’s retail expansion, and ToolsGroup emerged as the ideal technological partner to enhance our revenue and margin growth.”
Inna Kuznetsova, CEO of ToolsGroup, emphasized, ““Scarpe&Scarpe's success embodies today’s AI powered revolution in retail and supply chain planning technologies. The immediate business impact they observed is a testament to how real-time decision making not only adapts to an unpredictable market, but enables businesses to thrive in it. It's a privilege to partner with Scarpe&Scarpe on their innovation and digital transformation journey. Together, we're paving the way for smarter, more sustainable growth.”
Curious to learn more about ToolsGroup’s retail planning solutions? Book a meeting with us at the link https://www.toolsgroup.com/events/ and visit our booth A/5 at eP Summit on April 9-10 at Stazione Leopolda, Florence.
About Scarpe&Scarpe
From the 1960s to today, from retail to specialized distribution, the Scarpe&Scarpe brand has been the protagonist of great changes while remaining faithful to its mission. The variety of proposals, the quality of materials and the competitiveness of prices have always characterized the entire production of a company which, through targeted investments and constant attention to competitive scenarios, has been able to conquer the Italian market by responding to the needs of the public in always effective manner. Today, thanks to the strong identity of the brand, the effectiveness of the entrepreneurial strategies, the careful planning of the format of the exhibition spaces and the qualification of the sales staff, Scarpe&Scarpe is a consolidated and successful commercial reality, as explicitly demonstrated by the data on its dimensions. In fact, the brand currently has over 100 stores distributed across the country and relies on the collaboration of 1300 employees.
About ToolsGroup
ToolsGroup’s innovative AI-powered solutions enable retailers, distributors, and manufacturers to navigate through supply chain uncertainty. Our retail and supply chain planning suites empower a new level of intelligent decision-making and unlock powerful business improvements in forecast accuracy, service levels, and inventory - delighting customers and achieving financial and ESG KPIs. Stay in touch with ToolsGroup on LinkedIn, Twitter, YouTube, or visit www.toolsgroup.com.
Contact Details
Meir Kahtan
+1 917-864-0800
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