Level 1 Sponsor
Nextail is a fast-growing tech company on a mission to lead the agile retail revolution.
Nextail’s cloud-based platform combines artificial intelligence and prescriptive analytics to upgrade retailers’ inventory management processes and store operations. It provides retailers with data-driven decisions and the operational excellence of fast fashion, transforming how they buy new collections and distribute products.
There are currently four solutions within the platform to transform the following processes;
• Buying - Nextail applies predictive analytics to make recommendations for buying the right amount of a new product. It combines the intuition of buyers, so they can introduce their bets.
• First Product Allocation – Nextail optimizes how many units to send initially to the stores, by identifying demand patterns on similar products found through computer vision techniques.
• Dynamic Replenishment – Nextail’s optimization algorithms calculates daily replenishment to the stores to maximize sales probability across the network.
• Store Transfer: Nextail predicts non-replenishable out-of-stocks and rebalances stock among the stores of a region to boost sales at the end of the life cycle of each product.
All these modules come with a retail-specific Business Intelligence that provides visibility of key KPIs across the organization such as lost sales, product coverage or stockout levels. KPIs and reports are calculated automatically overnight so that retailers can make decisions first thing in the morning.
Nextail's dynamic algorithms learn from the reality of the stores performance by combining machine learning and image recognition to deliver an advanced forecasting model that detects demand and stock patterns. Nextail overcomes the limitations of legacy systems and accelerates digital transformation. The SaaS model means implementation is very fast, typically less than a month, generating fast ROI for any collection-based retailer.
The user interface of the platform is designed as a consumer App so it is very intuitive and easy to use, adding several layers of intelligence and usability on top of the existing systems of record (typically ERP systems). Nextail’s platform is continuously evolving with new functionalities and frequent updates being free of charge for all clients.
Nextail’s clients are leading fashion and collection-based retailers including Pepe Jeans, Stefanel and Melon Fashion Group. Clients typically see value delivered within 30 days, from sales increasing between 5-10%, in-store stock coverage reduced by 30% and stockouts reduced by 60%.
Founded by Joaquin Villalba and Carlos Miragall in 2014, our team is now made up of over 50 people from over 10 countries, working with passion to transform retail. After only two years we made it onto the CB Insights list of startups transforming retail, and were awarded ‘Best Startup Team’ and ‘Best Lifestyle & Fashion Startup’ at South Summit 2017, the leading startup conference in Europe.
Nextail operates in Spain, Italy, Russia, Brazil, the US and the UK.