The Prada Group has announced a collaboration with Oracle to adopt a suite of its tech solutions that will support efficiency throughout all core retail processes.

The company will also help the luxury retailer analyse historical data and current market demands across its global network of 634 stores, better-informing business decisions and improving customer experience.

With Oracle Retail Cloud Services, Prada will update its merchandising process, including sales and forecasts, performance analysis, margin, inventory management, supply chain and inventory allocation.

The group will also be able to strengthen its customer relations at the point of purchase with Oracle Retail Xstore Point of Service.

“By integrating Oracle’s advanced digital technologies with our operations, we will be able to unlock increasing value within our business and offer further opportunities to our global customer base,” said Lorenzo Bertelli, Prada’s head of marketing and communication.

“Our collaboration with Oracle is part of our wider strategy focused on enhancing our group with a strong investment in technology to boost operational efficiency and effectiveness.”

Mike Webster, senior vice president and general manager at Oracle Retail, commented that for luxury brands, delivering a unique and positive brand experience is paramount.

“Whether they are shopping in Milan, San Francisco or online, Prada Group’s customers expect that inventory will be fresh, current and available,” he stated, adding: “With Oracle, the company will be able to better understand and anticipate customer demand and optimise inventory assortments accordingly to ensure every brand connection results in a satisfied customer.”

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