Latest news with #NuOrder
Yahoo
29-06-2025
- Business
- Yahoo
Saks Global Extends Partnership With NuOrder to Neiman Marcus and Bergdorf Goodman
The Neiman Marcus and Bergdorf Goodman banners of Saks Global have partnered with NuOrder by Lightspeed, a business-to-business digital marketplace connecting retail buyers and vendors in real time. The Saks Fifth Avenue division of Saks Global has been tapped into the NuOrder platform for five years. Neiman Marcus and Bergdorf Goodman had been using the Joor B2B marketplace, a competitor to NuOrder, but Saks Global is integrating its operations across divisions and cutting expenses. More from WWD EXCLUSIVE: Saks Global Broadens Emily Essner's Role; Mary McGreevy Named Chief Stores Officer Saks Global Team to Outline Men's Strategy at Pitti Uomo Saks Global Report: Intent to Spend on Luxury Softens NuOrder's technology provides virtual showrooms for retail buyers to review and order merchandise, helping them make decisions faster with suppliers. NuOrder has about 4,000 brands on its platform, 26 percent of which operate in the luxury space, according to Chris Akrimi, general manager of NuOrder by Lightspeed. 'Retailers are rethinking their wholesale strategies to become more precise, profitable and brand aligned,' said Akrimi. 'By expanding our partnership to include Neiman Marcus and Bergdorf Goodman, Saks Global is reinforcing its commitment to smarter buying, faster go-to-market timelines, and delivering assortments that meet the moment.' With NuOrder, Akrimi said, Saks has reduced the time to create purchase orders by 90 percent. NuOrder says it reduces operational costs for retailers, and makes it faster and easier for buying teams to plan and manage assortments across hundreds of brands. NuOrder also provides data on bestselling colors, styles, sizes and recommendations on how to distribute orders by doors. 'We are not trying to take away the physical attributes of the brand-retail relationships. We are trying to enhance them and to be a partner,' Akrimi said. 'We are that partner, post the appointments in the showroom, where they can finish off all of their buying appointments. So that's absolutely critical. And a lot of it comes down to operational efficiency.' Akrimi said a large portion of Saks' business is driven through NuOrder, though he declined to specify. NuOrder alos helps Saks Global personalize assortments. 'The way we're helping that is we have data, we have AI, and we have imagery that drive those assortments by location, which is incredibly important,' Akrimi said. 'Therefore Saks can focus on their end consumer. West Coast customers versus East Coast customers are completely different.' NuOrder gets paid by Saks Global and other retailers through an annual subscription based on how many brands the retailer works with on NuOrder, the number of users inside the retailer and level of data provided. Nordstrom, Macy's and Bloomingdale's also use NuOrder. Lightspeed, the Montreal-based commerce platform, acquired NuOrder for about $425 million in 2021, to further its B2B offerings. Lightspeed helps merchants simplify, scale and provide better customer experiences. Its cloud solution unifies online and physical operations, multichannel sales, expansion to new locations, global payments, financing and connection to supplier networks. Best of WWD Macy's Is Closing 66 Stores in 2025 — Here's the List, Live Updates Inside the Demise of Lord & Taylor COVID-19 Spikes Elevate Retail Concerns
Yahoo
23-06-2025
- Business
- Yahoo
Saks Global Extends Partnership With NuOrder to Neiman Marcus and Bergdorf Goodman
The Neiman Marcus and Bergdorf Goodman banners of Saks Global have partnered with NuOrder by Lightspeed, a business-to-business digital marketplace connecting retail buyers and vendors in real time. The Saks Fifth Avenue division of Saks Global has been tapped into the NuOrder platform for five years. Neiman Marcus and Bergdorf Goodman had been using the Joor B2B marketplace, a competitor to NuOrder, but Saks Global is integrating its operations across divisions and cutting expenses. More from WWD EXCLUSIVE: Saks Global Broadens Emily Essner's Role; Mary McGreevy Named Chief Stores Officer Saks Global Team to Outline Men's Strategy at Pitti Uomo Saks Global Report: Intent to Spend on Luxury Softens NuOrder's technology provides virtual showrooms for retail buyers to review and order merchandise, helping them make decisions faster with suppliers. NuOrder has about 4,000 brands on its platform, 26 percent of which operate in the luxury space, according to Chris Akrimi, general manager of NuOrder by Lightspeed. 'Retailers are rethinking their wholesale strategies to become more precise, profitable and brand aligned,' said Akrimi. 'By expanding our partnership to include Neiman Marcus and Bergdorf Goodman, Saks Global is reinforcing its commitment to smarter buying, faster go-to-market timelines, and delivering assortments that meet the moment.' With NuOrder, Akrimi said, Saks has reduced the time to create purchase orders by 90 percent. NuOrder says it reduces operational costs for retailers, and makes it faster and easier for buying teams to plan and manage assortments across hundreds of brands. NuOrder also provides data on bestselling colors, styles, sizes and recommendations on how to distribute orders by doors. 'We are not trying to take away the physical attributes of the brand-retail relationships. We are trying to enhance them and to be a partner,' Akrimi said. 'We are that partner, post the appointments in the showroom, where they can finish off all of their buying appointments. So that's absolutely critical. And a lot of it comes down to operational efficiency.' Akrimi said a large portion of Saks' business is driven through NuOrder, though he declined to specify. NuOrder alos helps Saks Global personalize assortments. 'The way we're helping that is we have data, we have AI, and we have imagery that drive those assortments by location, which is incredibly important,' Akrimi said. 'Therefore Saks can focus on their end consumer. West Coast customers versus East Coast customers are completely different.' NuOrder gets paid by Saks Global and other retailers through an annual subscription based on how many brands the retailer works with on NuOrder, the number of users inside the retailer and level of data provided. Nordstrom, Macy's and Bloomingdale's also use NuOrder. Lightspeed, the Montreal-based commerce platform, acquired NuOrder for about $425 million in 2021, to further its B2B offerings. Lightspeed helps merchants simplify, scale and provide better customer experiences. Its cloud solution unifies online and physical operations, multichannel sales, expansion to new locations, global payments, financing and connection to supplier networks. Best of WWD Macy's Is Closing 66 Stores in 2025 — Here's the List, Live Updates Inside the Demise of Lord & Taylor COVID-19 Spikes Elevate Retail Concerns Sign in to access your portfolio
Yahoo
24-04-2025
- Business
- Yahoo
North America, Western Europe Spell Opportunity For E-Commerce Brands Looking to Expand in 2025
Amid rising trade tensions and steep tariffs set to impact much of the Asian sourcing landscape, some brands are turning to markets closer to home and probing the Western world for opportunity. That's according to NuOrder's 2025 State of B2B E-Commerce Report, which surveyed more than 7,000 brands and 500,000 global retailers about the industry's current and future prospects. According to the wholesale technology platform, 2025 will see brands favoring markets with lower barriers to entry (both tariff and non-tariff related), as well as established infrastructure for sales and growth. More from Sourcing Journal Report: Consumers Say They Want Sustainable, But Their Purchases Speak a Different Truth Female Founders Like Rebecca Minkoff and Allison Luvera Stand Up to Tariffs In Letter To Congress Skims, Versace and Dockers: How Tariffs Turned the Fashion Deal Market Into the Price Is Right Not surprisingly, some brands are hitting pause on expansion efforts (11 percent said they aren't pursuing global growth at all) and just 34 percent plan to expand into new geographic markets for sales this year. A small number (11 percent) also said they were exploring nearshoring and reshoring in order to drive down dependency on foreign supply chains. More than one-fifth of respondents said they were intent on diversifying their supplier portfolios to mitigate risk, and 25 percent said they are developing contingency plans in case of further disruptions. Perhaps predictably, 2025 will be a year for strengthening bonds with trusted allies; 43 percent of survey-takers said they want to focus on building strong partnerships with their existing suppliers in order to promote flexibility and collaboration above all else—a means of guarding against disruption. When it comes to broadening sales, e-commerce firms are homing in on North America and Western Europe, NuOrder's survey showed. Of the one-third of brands that are planning to expand sales globally, 41 percent are partnering with new suppliers, distributors, agents and showrooms, making improvements to logistics and supply chain infrastructure (30 percent) and addressing compliance and regulatory requirements (30 percent). More than one-quarter of the (29 percent) are also looking into creating localized products, pricing structures and marketing strategies, while 19 percent are adopting new technology to help manage cross-border operations and 17 percent are hiring regional teams to provide expertise on the ground in new markets. Notably, Canada, the U.S. and Mexico are the markets execs feel most bullish about probing this year, even in spite of America's wobbly stock market and tensions between the regional trade partners. In fact, 63 percent of companies that planned any expansion this year are looking to North America, and they expect to reap rewards; those respondents said they expect to see 86-percent sales growth this year. Western Europe represented a distant second for those bent on bringing sales to new markets, with 40 percent saying expansion into the United Kingdom, Germany, France and the Benelux nations (Belgium, the Netherlands and Luxembourg) is on the docket. Executives moving into those markets expect to see 13-percent growth. Twenty-three percent of respondents pointed to Latin America as a market for expansion, while 20 percent said East Asia (China, Japan, South Korea, Hong Kong and Taiwan) was a market to focus on this year. While global brands are continuing to pursue growth, they're certainly not as bullish as they could be about their prospects; only 31 percent are planning to launch new product categories or SKUs, and only 17 percent said they have plans to up their operational capacity by investing in new warehouses and production facilities. 'Supply chain resilience is a key concern, with brands focusing on supplier partnerships, demand forecasting, and contingency planning rather than structural changes like nearshoring or reshoring,' NuOrder analysts wrote. With major market uncertainty becoming table stakes and no end in sight to the trade turbulence, brands are looking for safe bets where they can find them. 'Overall, brands are safeguarding rather than expanding, favoring established markets, direct retail relationships, and strategies that balance stability with long-term control,' the report said. Sign in to access your portfolio
