Hammitt, which is a fast-growing U.S.-based luxury brand, teamed with Oracle NetSuite “to deliver a client-focused, functional, and fresh approach to modern handbags as it scales its business,” the tech company said in a statement.
“With NetSuite, Hammitt has been able to take advantage of an integrated business system to meet soaring customer demand for its line of stylish and functional handbags, backpacks, and leather accessories by simplifying and unifying its financial, product development, inventory, and customer relationship operations,” Oracle NetSuite said.
“There is nothing remotely comparable to NetSuite on the market as it provides a complete cloud ERP solution to help us navigate uncertainty and address inefficient processes,” said Tony Drockton, founder and chief executive officer of Hammitt. “NetSuite is the core of how we have managed our entire business over the last decade and a significant reason we’ve been able to grow so quickly — both in-store and online.”
For 2023, Drockton said the focus will be on profitability, “and it’s hard to be profitable in the long term without the insights that a strong cloud ERP solution like NetSuite provides. NetSuite has helped us increase productivity, reduce inefficiencies, and improve decision-making across our business.”
Hammitt was founded in 2008 in Drockton’s Hermosa Beach, California, garage during the financial crisis. Hammitt’s bags and accessories are sold in more than 850 boutiques and stores nationwide, including Dillard’s and Von Maur and its own flagships across Southern California.
“As Hammitt expanded and increased its direct-to-consumer business, which now encompasses 50 percent of its overall sales, it became increasingly difficult to maintain full visibility into operations and gain the insights needed to meet changing customer demands,” Oracle NetSuite said. “To address these challenges and establish a scalable foundation for future growth, Hammitt chose NetSuite as its enterprise resource planning (ERP) system.”
As a result, Hammitt has been able to manage its operations on a single cloud business system, the company said. “By leveraging more of the suite, Hammitt has been able to further improve efficiencies, reduce costs that come with various point solutions, and have full visibility into its entire business to make more informed decisions. NetSuite has enabled Hammitt to automate key finance functions, giving the accounting team time to focus on more strategic financial priorities such as expansion decisions and analysis of supplier and retailer relationships.”
Oracle NetSuite also said that to further increase efficiencies across its business, Hammitt uses NetSuite Inventory Management and Demand Planning “to gain real-time insight into its inventory, predict which products will sell the fastest, and increase production of unexpectedly popular products.”
“We are excited to see the success the Hammitt team has achieved over the years,” said David Rodman, senior vice president of customer success at Oracle NetSuite. “With NetSuite at the core of its business operations, Hammitt has grown from a small independent retailer to one of the most sought-after luxury accessories brands in the nation. We look forward to continuing to help Hammitt increase efficiencies, bolster its profitability, and deliver an exceptional customer experience.”