Stabilising Sales and Growth Preparedness
Elite Sportswear Brand
Supporting solid sales growth and team stability, during a challenging 18 months involving Covid-19 and Brexit.
Overview
Control Room Finance collaborated with an elite sportswear brand to respond to issues affecting them during the Covid-19 outbreak. The pandemic hugely impacted not only stock supplies but their income from sales which threatened the stability of the company. Control Room Finance was brought in to define their purchasing strategy in order to move the business towards immediate sustainability. Control Room Finance was required to set targets and KPIs for marketing, and define required sales on a consumer and wholesale basis.
Actions
Control Room Finance reviewed all aspects of the business to get a full picture of what would be needed to turn things around, we
Looked at operating costs, stock volumes, order seasonality, lead times and pre-orders to create an all-round view
Reviewed strategies on social media and marketing, identify ROI on marketing activities and determine minimum sales volumes per channel per month
Planned post-Brexit systems enhancements, VAT changes and warehousing transition for continued customer satisfaction
Control Room Finance built a strong rapport with the client which helped us work towards a shared vision of success for the business. Maintaining regular contact and providing support in areas beyond the initial remit, we became part of the team to share in their successes and drive toward growth.
Once reviewed, Control Room identified the business needs and implemented the following solutions:
Transferred manual finance on Excel to Xero
Developed the Shopify store to include additional apps which provided analytics around customer behaviour and website engagement and to give automated alerts for stock volumes and low stock products
Enhanced the user experience of Shopify, and worked with the team to develop pre-order strategy
Results
As a result of Control Room’s support, revenue increased 8x whilst operating profit increased 16x. Our involvement has put the company on a stable footing to help them develop future products – sales are planned to increase 100% YoY for 2022 onwards. We are continuing to support by providing cashflow forecasts, advise on purchasing volumes, distribution agreements across various territories.
