Lfplaza Group Scales Its Hong Kong Business With NetSuite

Lfplaza Group, a wholesale distributor of luxury and designer fashion clothing, bags, shoes and accessories, has scaled its business dramatically since deploying NetSuite OneWorld shortly after its launch in 2012.


Based in Hong Kong, the company utilizes NetSuite for financials, inventory management, CRM and marketing, as well as multi-subsidiary and multi-currency management for the Hong Kong, Australian and U.S. dollars, Chinese renminbi, British pound, Japanese yen, New Taiwan dollar and the Euro. NetSuite’s platform has given Lfplaza scalability and agility as its business has soared from the startup phase to $300 million HKD (about $38.4 million USD) in revenue in just five years.


Starting out, Lfplaza had in place an entry-level accounting system. After evaluating several solutions, Lfplaza quickly settled on NetSuite OneWorld as an ideal fit for its objectives of an integrated system that could support rapid growth.


“We’ve been able to scale dramatically without adding too many staff. We’re very glad we started early with NetSuite as it gave us room to grow,” said Jack Tsao, Lfplaza CEO.
Benefits that Lfplaza has realised with NetSuite include:

• Real-time inventory management. NetSuite gives Lfplaza real-time visibility into tens of thousands of SKUs, particularly important as new products are constantly added.
• Business reporting. Lfplaza makes extensive use of NetSuite’s reporting and analytics capabilities to track revenue and product sales by brand, type of goods, gender, regions and other dimensions.
• Agility in a fast-paced market. NetSuite has helped Lfplaza optimise inventory and pricing in the fast-paced and rapidly changing luxury fashion market.
• Multi-currency, multi-subsidiary management.
• CRM capabilities. NetSuite CRM gives Lfplaza sales staff a unified record of all customer account, interaction and order history information.

“The fashion inventory moves very fast, with increasing velocity and sophistication every year,” Tsao said. “With NetSuite OneWorld, it's very easy to adapt, customise processes and stay current, exploring all the business channels and marketing opportunities out there so we can continue to scale.”




For more information, visit the NetSuite Newsroom

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