NEW YORK — XY Retail, the global commerce solution that helps retailers streamline omnichannel operations and foster the strongest, most meaningful, and profitable relationships with their customers, today announced the closing of its seed round led by Monta Vista Capital with participation from Stage 1 Ventures. Funding will be used to accelerate the company’s global rollout of the XY platform to the world’s biggest luxury brands, to help them digitize their enterprises and manage their entire global retail operations— from data decisioning, stock management, and order fulfillment to hyper-personalizing the clienteling and merchandising experience.
In today’s rapidly changing retail environment, it is critical for retailers to provide customers with a seamless and consistent experience no matter how, or where, they are engaging. Legacy retail solutions are siloed, slow, difficult to integrate, and cannot present a complete view of customer behaviors, preferences, and journeys both on and off-line.
Built to meet the specific needs of the luxury market, the XY Retail platform provides retailers with one powerful way to digitize their enterprise and manage their entire global retail operations (data decisioning, stock management, order fulfillment, personalized merchandising) from one place.
“The luxury retail market will reach $296.9 Billion by 2026, yet it has been massively underserved by technology providers. To thrive, luxury retailers need their tech stack to equal the likes of today’s eCommerce giants – but they demand an even greater focus on personalization, high touch interactions, and seamless connection to the in-person experience,” said Roger Krakoff, General Partner at Monta Vista Capital. “XY Retail is uniquely solving this critical need and driving the next generation of luxury shopping experiences.”
Since its founding, XY has already been adopted by many of the world’s top global retailers. Recently, luxury lifestyle brand ISAIA used XY Retail to successfully centralize its global data across point-of-sale (POS), eCommerce, customer, catalog, inventory, and sales, simplifying its retail operations. In early 2021, ISAIA and XY Retail released XY POP, a digital shopping experience where associates can send customers personalized offers with one-click checkout, generating new sales opportunities.
“Thanks to XY Retail’s open, scalable, and flexible retail solution, ISAIA stores can handle complex omnichannel scenarios, drive in-store traffic with mobile clienteling capabilities, and fulfill online orders 300 percent faster,” said ISAIA CEO Gianluca Isaia. “ISAIA’s corporate teams can now deploy new collections globally, run bulk markdowns, and automate tax reporting across markets. This has made a huge impact on our bottom line. We’re proud to work with XY Retail on a global scale. Its ability to innovate and it’s level of customer service are unparalleled.”
“To compete in the new retail marketplace, all retailers, brands, and brand conglomerates will require a platform approach to replace their disparate applications,” said XY Retail CEO Susan Jeffers. “We have developed a single, scalable, API-first platform that aligns supply chain, sales channels, and other inputs to deliver a truly delightful customer experience and drive business revenue.”
About XY Retail:
XY Retail is a unified POS and commerce solution that provides global retailers with a way to streamline omnichannel operations and foster the strongest, most meaningful and profitable relationships with their customers. Dozens of blue chip brands like Armani and ISAIA have adopted XY Retail’s platform to digitize their enterprises and manage their entire global retail operations— from data decisioning, stock management and order fulfillment to hyper-personalizing the clienteling and merchandising experience. The platform also boosts commerce by enabling retailers to fulfill online orders up to 300 percent faster. XY Retail is headquartered in New York and Milan and operates in over 23 countries. The company is backed by Stage 1 Ventures and Monta Vista Capital.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220630005118/en/
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