The FINS Solution for the Watch Industry – with Francis Gouten (video)


Francis Gouten

We were delighted to invite Francis Gouten to Montrichard to introduce him to the FINS solution for the watch industry. As the former CEO of Richemont Asia Pacific, he has over 35 years of experience in the watches and luxury goods business.

During the visit, we took a moment to ask him about the recent changes and challenges facing the watch industry today and why he believes the FINS Cloud ERP manufacturing and merchandising solution can help watch brands navigate and thrive in an uncertain future…”

 
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Grayton Automatic Watches


Grayton Automatic Watches Case Study

Turning Heads in the Industry with Fast Fashion Merchandising & Manufacturing

 

The challenge

Grayton watches had a revolutionary idea…The aim was to put customized automatic watches directly into the hands of key opinion leaders, fashion influencers and their communities. But how they wanted to do so was unique. Rather than splash the industry with a single collection, they wanted to create a way for artists, enthusiasts and fashionistas to put their own creative stamp on each watch, customizing it for their community of loyal followers.

 

They knew that giving people choices and involving them in the creative process was key to creating a strong bond and real relationship with their brand advocates. By working directly with these partners across social media and the blogosphere, they would be able to quickly build social legitimacy and stay in lock step with the ever-changing world of fashion.

It was a new and exciting idea but making it happen would require more than ideas, it would require creating a streamlined, cost-efficient, fast fashion manufacturing model for watch production, something that was difficult to do in the traditionally entrenched watch industry.

They approached the Montrichard Group with this challenge. The MR Group was impressed with their designs and the forward-thinking marketing concept and had a fast fashion production technique that could make it a reality: FINS: The first lean manufacturing and micro-merchandising system for the watch industry.

 

A strategic partnership

Montrichard Group formed a special partnership with Grayton to provide the FINS fully integrated supply chain solution for manufacturing and marketing support in order to help the brand succeed on the global market.

Start Lean, Stay Lean

As a new brand, controlling cash flow and budget was essential to Grayton. They would be competing with long-standing competitors and well-known brands in a fickle market that is constantly changing. They needed to run fast and lean to survive. The first step was careful selection of component inventory that would be completely automatic and based only on real sales and inventory movement rather than unreliable forecasts that could not anticipate emerging market trends.

After initial component stocking, FINS took over and dynamically adjusted stock levels and reorders to maintain a lean inventory of just 3 weeks supply of finished watches. By operating at inventory levels 5 times as lean as most competitors, Grayton freed up cash flow for operation and their Web 2.0 marketing efforts.

Unlimited choices

Grayton knew that offering customized automatic watches to thousands of influencers would require a robust and flexible catalog and bulletproof ordering system. By using the powerful FINS web-based management system customized to their unique needs, Grayton could create an unlimited number of limited special edition automatic watch collections directly within the system based on any of the components available in their inventory. Within minutes, a new watch SKU could be designed and created – revolutionizing a process that can normally take weeks and involve a staff of designers and administrators.

To further streamline operations, the FINS solution was linked directly to Grayton’s existing Magento content management system, allowing orders to be automatically issued from their existing ERP through the FINS system to immediately trigger a Just-In-Time manufacturing request to produce and ship a new customized watch within 10 days of order.

 

Marketing matters

As a forward-thinking watch brand, Grayton didn’t only adopt the latest manufacturing techniques, they also took a modern approach to marketing. Bypassing the lethargic and costly marketing methods that mire traditional watch brands who are struggling to stay relevant, Grayton concentrated on social networkers, bloggers and Instagram influencers and worked with Montrichard to reach out to over 3,000 key opinion leaders in the first two months – essentially turning each of them into designers for their own online communities and giving them the opportunity to customize an automatic watch and showcase it to their followers.

The results were stunning. An army of loyal users and advocates was engaged, growing Grayton from a nascent brand to a trusted watch maker and style leader in just two short years.

 

Results of adopting FINS

Utilizing the FINS lean manufacturing and micro-merchandising system for the watch industry, created key advantages for Grayton.

  • They were able to fund their brand with a minimum investment in inventory
  • They achieved instant quality and standards using a trusted manufacturer with years of experience
  • They could offer unrivaled levels of customization and choices to their end users
  • They built and delivered watches using a Fast Fashion model with Just-In-Time manufacturing
  • They consistently maintained low operating costs, greater cash flow and minimal risk for new products
  • They quickly built a loyal tribe of influencers and satisfied users that continue to support their brand

The results achieved by Grayton and their partnership with Montrichard Group are impressive but by no means singular. Using the powerful FINS system, Montrichard is helping many clients improve existing supply chains, implement micro-merchandising, and enabling Just-In-Time manufacturing for watch brands of all sizes.

Ready to see how FINS can help grow your Watch Business?

Register to try out our fully functional online live demo to see exactly what you get with the FINS manufacturing software solution for the watch industry.

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MONTRICHARD and FINS ERP have signed an exclusive partnership that will revolutionize watch manufacturing


Montrichard and Fins signed a partnership

Hong Kong, February 6, 2017

MONTRICHARD and FINS ERP have signed an exclusive partnership that will revolutionize watch manufacturing.

The FINS ERP is the first turnkey solution for Just-In-Time production made specifically for the watch industry. It is based on new best practices of micro-merchandising & micro-manufacturing tailor-made for the Fast moving business model.

The FINS solution allows watch brands to restructure their entire supply chain with a 3-4x inventory value reduction, optimization of EBITDA, restructure operations and transformation to lean logistics flows.

 

FINS optimizes and enables the following:

  • Maintains an extremely lean inventory (as low as one month of sales) and reduction of cash flow needed to finance it.
  • Triggers Just-in-Time manufacturing orders based on sales requests within 10 days, avoiding the need for complex sales forecasts.
  • Ability to create within minutes customized watch collections for each market or retail channel.
  • Online merchandising allowing the creation of unique, personalized products in a few simple clicks rather than weeks of design.
  • Brings down new product time-to-market from a typical 4 months to as low as a few weeks – based on the new components delivery time only.
  • Allows full industrial and distribution traceability for production batches and/or single SKUs to avoid parallel distribution.
  • Creates a consumer database with traceability capable of capturing valuable consumer data for future marketing. 
  • And many more…

 

MONTRICHARD is a leader of watch manufacturing in Switzerland and China.

With sales Offices in USA, Europe and Hong Kong, Montrichard is a key innovator in the watch industry with a perfect track record of operating Just-In-Time manufacturing for more than 14 years and is a trusted supplier to many worldwide brands.Montrichard is the exclusive distributor of the FINS Solution. For more information about Montrichard: www.montrichardwatch.com

FINS is a start-up created in 2014 with dual competences in industrial manufacturing and software engineering. It provides turnkey software solutions to improve supply chain management and drastically reduce costs. For more information about FINS: www.montrichardwatch.com/finssolutions

 

Press contact: 

Retailers and journalists interested in discovering more about the FINS ERP solutions for the watch industry are welcome to contact:

Montrichard Group: contact@montrichardwatch.com

FINS solutions: contact@fins-solutions.com

Ready to see how FINS can help grow your Watch Business?

Get Free Personalized Demonstration With a FINS Specialist!

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BaselWorld 2017


Montrichard will be attending Baselworld 2017

From March 23rd to 30th, 2017

Montrichard (H.K.) Ltd. was at BaselWorld 2017

An amazing week for Montrichard Group at ‪‎Baselworld‬! Our team thanks you all for this great success and look forward to welcoming you at one of our offices.

See you next year !

Contact: contact@montrichardwatch.com