PITTSBURGH, PA – (October 4, 2016) – First Insight, the world’s leading provider of solutions that empower brands to incorporate the voice of the customer into the design and merchandising of new products, today announced a partnership agreement with the Camuto Group, a leading footwear, clothing, and accessories brand company.
Brands and retailers are using First Insight to help improve sales, margins, buy depth accuracy and marketing effectiveness. As more retailers and brands are looking to technology to improve efficiency and sales while also reaching new customer segments, First Insight has proven itself as a must-have solution for the global retail market.
The Camuto Group is a footwear and lifestyle brand company committed to delivering quality products, consistent branding, and outstanding value. Launched in 2005 with the introduction of its renowned footwear collection, the flagship Vince Camuto brand has expanded to offer clothing and accessories that are modern and forward thinking.
“With First Insight, we now have an effective and scalable way to bring the voice of the customer into our new product decision-making process,” said Alex Del Cielo, CEO of Camuto Group. “By identifying top and bottom products early in the development process, we are reducing our sampling and inventory costs and increasing our hit rate on winning new products by more than 50 percent. Armed with customer input on new styles, we optimize our offerings to our key retail partners and reduce markdown exposure. We expect this to drive a significant margin improvement in our business.”
“Industry-leading companies like Camuto Group rely on First Insight solutions as a key enabler of reducing markdowns, to drive business efficiency and move ahead of the competition,” said Greg Petro, CEO of First Insight. “The fundamental problems facing brands and retailers today stem from one root cause—they aren’t clearly matching their products and supply chain with customers’ changing demand. From early identification of winning new products to inventory and markdown management, our solutions enable retailers and brands to know their customers firsthand, allowing them to reduce risks on new products and determine optimal price points.”
To learn more about First Insight, please visit www.firstinsight.com
About First Insight, Inc.
First Insight is the world’s leading provider of solutions that empower brands to significantly increase their new product success rate while minimizing the risk of new product failures. Through the use of online consumer engagement, the First Insight solution gathers real-time consumer data and applies predictive analytic models to create actionable insights, which drive measurable value. Retailers, manufacturers and brands use the First Insight solution to design, select, price and market the most profitable new products for improved sales, margins and inventory turnover. Customers include some of world’s leading vertically integrated brands, sporting goods companies, department stores, mass merchant retailers and wholesalers. For further information, please visit www.firstinsight.com.
First Insight Contact:
VP, Marketing & Product Management
First Insight, Inc.
VP of Communications
(646) 838-1190 ex. 48