Quiznos deploys Coupa software in India
San Mateo, Calif. — Coupa Software said Monday that sandwich chain Quiznos, India, will deploy its cloud spend optimization software service in the region.
Apollo Elixirs Pvt., Ltd., a master franchisee of Southern India, selected the Coupa for Retail e-procurement solution based on its ability to harness the stores’ collective spend intelligence and predict the future purchasing needs of each Quiznos location.
“When comparing the various e-procurement solutions, Coupa stood out among the competition,” said Mohit Mathur, CEO of Quiznos India. “Our team was impressed with Coupa’s intuitive interface and analytics. Our employees weren’t intimidated by the system. For them, it was as easy as going to an online site and shopping. With Coupa, we have centralized spend intelligence and can anticipate future inventory needs. This is key for any new retail organization wanting to scale operations.”
With the system, Apollo Elixirs gets centralized visibility into inventory orders and costs across all stores. Mathur and his team can make recommendations based on past order volume, thereby anticipating needs, avoiding running out of inventory and reducing shipping costs.
Apollo Elixirs first deployed Coupa in August 2011. Since then, it has deployed Coupa in all five of its new franchise locations. Ahead of the original schedule, Coupa will be deployed in 20 restaurants in India by the end of 2012.
J. Crew profit more than triples in Q4; plans 42 stores in 2012
New York City — J. Crew Group reported Monday that profit for the quarter ended Jan. 28 rose to $15.1 million, from $4 million in the same period last year. Revenues surged 13% to $531 million, and same-store sales rose 6%.
For the full year, the retailer reported a profit decline to $51.5 million, from $121.5 million in 2010. Annual revenues rose 8% to $1.9 billion, and same-store sales increased 7%.
The company said it plans 42 stores in fiscal 2012, comprised of 16 J. Crew retail stores, 10 factory stores, one crewcuts store, and 15 Madewell stores. Slated for closure are one Madewell store and one J. Crew retail store.
QVC starts new venture in China
WEST CHESTER, Pa. — QVC is building a presence in China through a new joint venture with Beijing-based China National Radio (CNR), China’s government-owned radio division. Through this partnership, CNR and QVC will jointly operate a multimedia retailing business in China through the CNR Mall TV shopping channel and its e-commerce website (www.CNRMall.com), leveraging the strengths and resources of each company.
"QVC has long recognized the great potential of having a retail presence in China. We are pleased to be able to enter this dynamic market with a strong partner. QVC’s track record of success in the United States, United Kingdom, Germany, Japan and Italy proves that our business model can thrive across many borders," said Mike George, QVC’s president and CEO. "CNR Mall is one of the leaders in multimedia shopping in China and shares many important values with QVC. Both companies focus on providing great customer value and are committed to service excellence."
The joint venture, CNR Home Shopping Co. Ltd. (CNRS), will be headquartered in Beijing. QVC will own a 49% stake in CNRS, and CNR will own the remaining 51%. CNRS will provide merchandise development, logistics, delivery, call center and other related services to CNR Mall. The CNR Mall TV shopping channel, which will continue to be wholly owned by CNR, reaches approximately 35 million homes within China.
The new joint venture team will be co-led by a global team of experienced executives from QVC and senior leaders from CNR Mall. The closing of the transaction is subject to various conditions, including approval from China regulators.