Oakley Selects 7thonline Merchandise and Assortment Solution to Support Expansion of Retail
Sales and Inventory Will Be Centralized to Optimize ROI and Offer Complete Visibility
New York, NY – November 30, 2011 – 7thonline, the leading provider of cross channel merchandise planning and assortment management to the retail and wholesale industry, today announced that Oakley, Inc., one of the leading sports brands in the world, has selected 7thonline Merchandise and Assortment Management to increase the productivity of its inventory and merchandising process. This includes merchandise financial planning, visual and analytical assortment planning, in-season OTB management and forecasting, and embedded business intelligence, based on powerful optimization engines.
“With 7thonline, we will be able to move to a proactive buying model, with stronger transparencies between ownership of inventory and store demand,” said Erik Searles, Vice President Oakley Retail. “We expect improved product margins and profits by executing localized, demand-driven store assortments.”
“We are extremely pleased that Oakley has partnered with us to help support their retail expansion,” stated Max Ma, CEO of 7thonline. “Oakley will be able to quickly take advantage of our deep industry expertise and drive business value to their fast growing organization.”
About Oakley, Inc.
Established in 1975 and headquartered in Southern California, Oakley is one of the leading sports brands in the world. The holder of more than 600 patents, Oakley is continually seeking problems, solving them with inventions and wrapping those inventions in art. This philosophy has made Oakley one of the most iconic and inimitable brands on the market, with innovations that world-class athletes around the globe depend on to compete at the highest level possible. Oakley is famed for its insuperable lens technologies such as High Definition Optics(R) (HDO(R)) which is incorporated into all Oakley sun and prescription eyewear, and goggles. Oakley has extended its leadership position as the world's leading sports eyewear brand into apparel, footwear and accessories collections. Laser focused on the consumer, Oakley has both men's and women's product lines that target Sports Performance, Active and Lifestyle consumers. Oakley is a subsidiary of Luxottica Group. Additional information is available at www.oakley.com.
Safe Harbor Statement
Certain statements in this press release may constitute “forward looking statements” as defined in the Private Securities Litigation Reform Act of 1995. Such statements involve risks, uncertainties and other factors that could cause actual results to differ materially from those which are anticipated. Such risks and uncertainties include, but are not limited to, the ability to manage the effects of the current uncertain international economic outlook, the ability to successfully acquire and integrate new businesses, the ability to predict future economic conditions and changes to consumer preferences, the ability to successfully introduce and market new products, the ability to maintain an efficient distribution system, the ability to achieve and manage growth, the ability to negotiate and maintain favourable license agreements, the availability of correction alternatives to prescription eyeglasses, fluctuations in exchange rates, changes in local conditions, the ability to protect intellectual property, the ability to maintain relations with those hosting our stores, computer system problems, inventory-related risks, credit and insurance risks, changes to tax regimes as well as other political, economic and technological factors and other risks and uncertainties referred to in Luxottica Group’s filings with the U.S. Securities and Exchange Commission. These forward looking statements are made as of the date hereof and Luxottica Group does not assume any obligation to update them.
About 7thonline
7thonline is the leading provider of cross channel merchandise and assortment management solutions to the retail and wholesale industry. The company's cloud and enterprise software enables more effective planning, demand forecasting, and optimization for global and fast growing brands. 7thonline's embedded business intelligence and analytics offer multi-channel inventory visibility for retailers, eCommerce, and vendors allowing for greater operational performance, increased sales, reduced markdowns, and improved margins. Customers include G-III Apparel Group, GRI Retail Group, Michael Kors, Nautica, Oakley, Patagonia, Phillips-Van Heusen, Under Armour, VF, and others. 7thonline is headquartered in New York City with global offices. For more information, please visit www.7thonline.com.