Inc. Magazine recently released their list of "The 500 Fastest Growing Private Companies in America." Of the 25 retailers listed on the list, SkuVault is partnering with three of them to help manage their inventories: eLuxury Supply, Plant Therapy, and Onnit.
The world of retail has always been intrinsic to the American Dream: You start with nothing, you create a product, you work hard selling that product, you make money from selling that product and, hopefully, live happily ever after. That, at least, is the ending goal for retailers. eLuxury, Onnit, and Plant Therapy are now partnering with SkuVault, and they are all on the verge of making their fairytale ending a reality.
As is common with many retailers these days, these three companies have move passed the standard brick and mortar retail style. They don't have store fronts; they have home pages. They don't have mannequins; they have product photos. They don't have sales clerks; they have online shopping carts.
They generate their sales exclusively through the web. Where they share similarities with traditional retailers is in stock of inventory - and their inventory is selling like hot cakes on a Sunday morning. Combined, the three companies saw over $44 million in revenue in 2014. Pretty impressive considering all three companies are barely even 5 years old.
For these companies, the increase in revenue meant an increase in inventory. And the increase in inventory meant an increased need to track and manage it all. That's where SkuVault stepped in.
eLuxury Supply (#15):
eLuxury Supply, a specialty linen and bed sheet company, is the brain child of Paul Sanders. Started in 2010, Paul was initially running his company from his garage. The garage turned into a 10,000 sq. ft. warehouse. The 10,000 sq. ft. warehouse turned into a 60,000 sq. ft. warehouse. After that, they quickly began to see revenue upwards of $18 million. As Paul revealed to us, "SkuVault was there, and able & willing to support us at each of those various growth steps."
For retailers, it's imperative to be able to locate and count all of the inventory in their warehouses. Not having an accurate count of inventory, and not knowing where inventory is located can lead to out of stocks, overstocks, and wasted time trying to track down the items you do or do not have to sell.
Nathan Head, systems administrator at eLuxury Supply, tells us,
"When I first started, you couldn't find anything. With SkuVault, we went from knowing where something may have been, to knowing exactly where something was. [SkuVault] streamlined our processes 100%."
SkuVault gives our customers an accurate count and location of all of their products, and our software utilizes barcode scanners in conjunction with product and location barcode labels to manage your inventory to minimize human error. Products are created in SkuVault, product quantities are associated with physical locations in your warehouse, and from there, it's as simple as scanning the barcodes to add, pick, or remove quantities. The quantities in your warehouse are then synced with your various channels, such as Amazon, eBay, Magento, Shopify, Quickbooks, ShipWorks, and more.
On the topic of sales data, Paul Sanders told us,
"We consider ourselves to be a data driven company, and SkuVault is something that manages and provides very valuable data."
In order for your company to continue growing, we at SkuVault feel that you should be able to see where your sales are coming from, which products are selling the best, and numerous other trends in your marketplace. That's why we designed our software to provide detailed data reports by certain trends - brand, product type, marketplace, and more, which allow you to make more informed purchasing decisions.
Plant Therapy (#31):
Plant Therapy sells plant-derived oils and related accessories, but more than that, they believe in the power of essential oils, and want to ensure that they're available to everyone! From simple aromatherapy to topical applications, Plant Therapy seeks to provide the highest-quality, pure & natural essential oils for the lowest price. SkuVault works with Plant Therapy to make sure that their customers get their oils in a timely fashion!
Onnit (#496):
Onnit manufactures nutritional supplements, food, exercise equipment, apparel, and well-being. Their mission is to leverage unique products and actionable information to inspire peak performance, and they're dedicated to helping their customers to achieve a new level of well-being that Onnit likes to refer to as "Total Human Optimization". Onnit utilizes SkuVault in combination with ShipStation to take control of their inventory!
We at SkuVault are very proud to have been able to help these companies reach their full potential.
We're excited to see what the future holds for eLuxury, Onnit, and Plant Therapy. It's so rewarding for us to be able to watch our clients grow! It's what we're here for. From garages to warehouses, we offer flexible pricing for all levels of retailers. Inventory Management doesn't have to be the daunting task you think it might be. We helped these clients become 3 of the 25 fastest growing retail companies - let us help you too.
Turn a 15-minute demo into an Inc 500-worthy solution for your retail business! Click below to try SkuVault today!
