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Oracle Customer Success — Fitaihi Holding Group

Fitaihi Holding Group

Fitaihi Transforms Business Operations with Oracle Cloud Applications

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With the Oracle Cloud, we now have remarkable performance, competitive responsive pricing, targeted customers, accurate data, efficient replenishment, and solid detailed reports. Oracle Retail tied to Oracle Financials also allows us to offer ecommerce and the best store experience to our customers.

— Hisham Elkahwagy, Executive IT Director, Fitaihi Holding Group

Fitaihi Establishes Single Source of Accurate Data and Boosts Luxury Goods Sales Following an 18-Month Digital Transformation Project

Fitaihi is a leader in Saudi Arabia in the field of jewelry and luxury goods. The company operates 60 stores across the country ranging from 200 square meters to 6,000 square meters for multi-story showrooms in Jeddah and Riyadh.

In 2015 Fitaihi Holding Group began a major digital transformation, with initiatives to refresh networks and data centers, implement cloud solutions to replace disparate legacy systems and separate databases for each store, and to increase sales through social media channels.

 
Challenges
  • Stop random pricing and promotions by instigating competitive, responsive, in-store, and online pricing strategies for antiques, jewelry, and luxury assortments
  • Boost operational efficiency through real-time access to jewelry and luxury goods sales figures and rapid financial consolidation
  • Increase sales through more targeted segmentation of customers, and generate solid sales reporting and business analytics for faster decision making
  • Banish spreadsheets and cease spending on legacy systems obstructing business insight by taking advantage of enterprise-class software to tie data together
  • Improve store inventory management for more accurate replenishment of luxury goods
Results
  • Deployed Oracle Retail Merchandise Operations Management for seamless execution of core retail operations to support purchasing, pricing, and inventory management for luxury goods, while increasing staff productivity with item, order, and replenishment management in one software
  • Established a single source of accurate data across 60 stores and multi-story showrooms on Oracle Database, enabling 24 years of data mining business intelligence covering sales across all stores and luxury product lines, stored in a data warehouse on Oracle’s SPARC T5-2 servers
  • Enhanced financial performance and sales transaction visibility by integrating Oracle Retail with Oracle Financials, generating real-time luxury goods sales reports and daily banking consolidation thanks to hourly feeds of store transaction data
  • Increased sales by capturing web and social channel intelligence with Oracle Social Relationship Management Cloud Service, leading to better targeting of specific customer segments such as 18- to 35-year-olds or clients spending over $250,000 annually
  • Generated detailed analytical reports allowing management to drill down into best performing product lines and plan for expansion and new locations
  • Eliminated out-of-stock situations, and ensured maximum availability of Fitaihi’s assortments of jewelry, precious metals and stones, antiques, and accessories by automating daily store replenishment using Oracle Retail Store Inventory Management
  • Instigated competitive, responsive pricing and promotion strategies with Oracle Retail Price Management, enabling optimum positioning of luxury goods items by class and subclass across all stores
  • Eliminated legacy data silos, error-prone spreadsheets, and inefficient processes, which cost hundreds of non-productive hours every month, boosting employee productivity and satisfaction while reducing headcount

 

In my previous 12 implementations I have found no other vendor to match the seamless integration between finance and retail offered by Oracle Retail’s data model. The well-structured and fully integrated Oracle Retail ecosystem empowers Fitaihi to achieve maximum business value with minimal risk.

— Hisham Elkahwagy, Executive IT Director, Fitaihi Holding Group

About Fitaihi Holding Group

Headquarters

 
Jeddah, Saudi Arabia

Employees

 
570

Fitaihi Holding Group operates 60 stores around Saudi Arabia, making it famous in the field of jewelry, precious metals, antiques, and luxury items. The company is also a distributor of renowned brands such as Mont Blanc, Dunhill, and Christian Dior. Fitaihi Holding Group is the only luxury goods company listed on Tadawul, the Saudi Stock Exchange.

Partners

Having asked Oracle to select partners with a successful end-to-end implementation track record, Fitaihi entrusted the execution to Retail Sols for Oracle Retail and Evosys for Oracle Financials. The partners’ roles included product assessment, solution design, solution build, product installation, integration between Oracle Retail and Oracle Financials, and project rollout. Retail Sols and Evosys liaised with 65 subject matter experts to understand Fitaihi’s business processes, analyze requirements, design an integrated solution, and test through pilot deployments. As a result, the solution was rolled out in under 12 months, 98% out-of-the-box, with minimal customization of the Oracle Retail Store Inventory Management module.

Published:  Jun 08, 2017