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JustEnough is Now Part of Mi9 Retail

During NRF 2018, we were thrilled to announce that JustEnough has been acquired by
Mi9 Retail, a market leader of omni-channel retail solutions. The merger of Mi9 Retail and JustEnough will provide an exciting combination of best-of-breed analytics-driven, merchandising, planning, omni-channel, and customer engagement solutions from a single provider.

We are confident that by joining forces with Mi9, our valued customers will benefit greatly. Below are some highlights about Mi9 and the acquisition:

  • Mi9 Retail has grown both organically and through acquisition over the last four years into what today is a 600-employee business around the globe with offices in Miami, Montreal, Toronto, Paris, and Shanghai. As a result of this merger, Mi9 Retail now adds the JustEnough offices in Irvine, Seattle, Johannesburg, London and Melbourne.
  • This growth provides customers with a software and technology partner fully capable of delivering complex, innovative and global solutions that can power retail businesses. At the same time, Mi9 remains nimble, client-focused, 100% retail-focused and committed to partnering with customers to develop the capabilities that their businesses require.
  • Mi9 plans to retain the JustEnough development, implementation, product management, sales, marketing and support teams. Key members of the project and product teams will not only be staying with the business, but will have more resources and more support available to them than ever before.
  • JustEnough’s planning solutions will be the only go-forward products, as Mi9 acquired JustEnough specifically for our industry-leading solutions that are additive to the Mi9 portfolio.
  • Mi9 continues to consistently place at the top of the RIS News Technology LeaderBoard.
  • In mid-July 2017, Mi9 took a strategic investment from General Atlantic – a fund that has its roots in the retail industry, and was in fact founded by Chuck Feeney of Duty Free Americas. General Atlantic is a growth fund. They are committed to JustEnough because they share a belief in the value of our products and people.

For more information, read the press release here. If you have any immediate questions or concerns, please contact your regional account representative below:

JustEnough Realized Unprecedented Success in 2017

In addition to the exciting news about JustEnough’s merger with Mi9 Retail, we wanted to share some highlights from 2017 – a year that marked unprecedented success for our business.

In July, we rolled out the 3.6.0 release of our end-to-end retail planning solutions – the result of three years of innovation. The release featured more than 60 new enhancements that impacted every module in the suite. Among the most exciting is a revolutionary new hybrid Merchandise Financial Planning approach that allows for both Cost and Retail Metrics and processes to be used regardless of the organization’s accounting practice.

In addition, the 3.6.0 version of JustEnough Assortment Planning enhances user productivity by modelling historic item performance into placeholders for future assortment plans. Our Allocation solution now allows planners to incorporate system-generated metrics utilizing the Rate of Sale calculator to populate a demand-driven allocation strategy. Finally, JustEnough Replenishment now features an all-new redistribution optimization engine.

We also celebrated significant customer wins in 2017. Premier lifestyle brand
Tommy Bahama went live with our Merchandise Financial Planning solution via a cloud-based model in early spring after a smooth, on-time deployment. Realizing it needed a powerful and responsive solution to support its multi-channel retail organization, Tommy Bahama selected JustEnough for our proven track record in providing powerful and responsive solutions that support multi-channel retail organizations and evolve with the changing needs of the business.

JustEnough also expanded into two new international markets last year. Brisbane-based apparel retailer City Beach licensed our Demand Forecasting, Replenishment and Allocation solutions, marking our foray into Australia. BMA International Group, which operates a chain of fashion and food retail stores out of the United Arab Emirates, is our first client in the Middle East. BMA selected our Demand Forecasting, Replenishment and Allocation offerings to support its REDTAG and twenty4 brands, of which REDTAG operates internationally in the Middle East, Asia and North Africa. Read more below in the “New Customers” section.

The momentum from 2017 will translate into a very exciting and productive 2018 for JustEnough and our customers under the Mi9 Retail umbrella.

NEW CUSTOMERS

Read about the latest companies to join the JustEnough customer family.

INDUSTRY INSIGHTS

Check out recent research findings, which touches on some of today’s most pressing industry challenges.

INNOVATIVE THINKING

Check out JustEnough's latest thought leadership articles.

JUSTENOUGH BLOG

Get the latest on JustEnough developments and our take on industry news by visiting our blog.

New Customers

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BMA International Group

BMA International Group operates a chain of fashion and food stores in the United Arab Emirates. Based in Dubai, the company’s brand portfolio includes:

  • REDTAG, which sells both value fashion apparel and homeware in nearly 200 stores located throughout the Middle East, Asia and North Africa. The retailer is steadily growing at a rate of 20% per year.
  • Twenty4, a trendy apparel and accessories retailer targeting younger consumers that launched in 2013 and consists of approximately 80 stores across the Gulf region.

To replace its manual inventory planning system and to support its rapid growth, BMA turned to JustEnough to deliver the right stock mix to their REDTAG and twenty4 stores at the right time. The company selected JustEnough’s Demand Forecasting, Replenishment and Allocation modules, and became JustEnough’s first-ever customer in the Middle East.

City Beach

Established in 1985, City Beach offers a wide range of men’s and women’s apparel, footwear and accessories that reflect the country’s skate and surf lifestyle. It operates 69 stores located in Brisbane, Perth, Darwin, Sydney and throughout the Gold Coast, as well as its online store.

To keep pace with its growth initiatives, as well as ever-changing fashion trends and increasing customer demand, City Beach realized the need for a modern planning system that would respect and integrate with their traditional approach. The retailer ultimately selected JustEnough for its agile and fully integrated Demand Forecasting, Replenishment and Allocation solutions. The license-signing agreement marks JustEnough’s first foray into Australia.

Innovative Thinking

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A Case for Hybrid Merchandise Financial Planning

To maximize profits, retailers must have the right type and amount of inventory on hand. They also must establish how much the inventory is valued at to determine how best to price it, how much it can be marked down throughout the season, and whether they should buy more of the same product or invest in something else.

Historically, retailers have leveraged the Retail Method for financial planning. But, the Retail Method’s fatal flaw lies in the fact that it is only really an estimate of inventory value. A lack of visibility into the cost of goods sold can hamper a retailer’s ability to understand how much it can expect to make in profit versus what it has already invested in inventory. Access to more data and better technology has facilitated a shift in the way retailers look at inventory valuation. The Cost Method provides a straightforward approach to inventory valuation in which true revenues minus true costs equals gross margin.

Although the obvious drawbacks to the Retail Method have led the International Financial Reporting Standards to put support behind the transition to the Cost Method, many organizations are reticent to making a cold-turkey switch to their accounting style.

But what if retailers could blend their use of Retail and Cost Accounting Methods? In a new thought leadership article by JustEnough’s Keith Whaley, we explore how doing so would help retailers better link their financial objectives with their merchandising needs, while giving their finance organizations visibility into cost and how much of the budget is tied up in working capital by way of inventory.

Read the full article here, and contact us to learn how JustEnough Merchandise Financial Planning delivers a hybrid approach to the Retail and Cost Methods of Accounting.

Industry Insights

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Boston Retail Partners: 2017 Merchandise Planning Benchmark Survey

The world of retail continues to change at a rapid pace, dictating the need for retailers to adapt to a new model to accommodate the blurred lines of retail and innovative methods of shopping driven by mobile technology, artificial intelligence and rapidly changing fulfillment options – all of which are changing the very foundation of customer service.

This means transforming their disparate systems, processes into one cohesive environment that facilitates a seamless shopping experience across any channel, according to Boston Retail Partners’ 2017 Merchandise Planning Benchmark Survey.

Sponsored by JustEnough, this year’s survey explores the priorities of retailers as they strive to meet the needs and demands of today’s consumers. Access the full report here.

JustEnough Blog

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Get the latest on JustEnough news and thought leadership, as well as our take on industry developments, by reading our blog. Add it to your RSS Feeds and, with just a click, share the content you like on Twitter, LinkedIn and Facebook. You can also start a dialog by commenting on our posts. And if you would like to contribute content, just let us know by emailing info@justenough.com.

Visit The JustEnough Blog

Contact Us

Interested in learning more about JustEnough? Visit justenough.com today.

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