Our efforts in becoming stronger, smarter and more focused than ever are paying off. Successes in the luxury industry, major customer wins and expansion into mobile PLM markets fueled record growth, and set the stage for key Series C financing.
Campbell, CA (PRWEB) April 7, 2011
Centric Software, Inc., recently closed out its fiscal year with record sales, significant growth and positive performance across operations.
Centric – a leading provider of product lifecycle management (PLM) for makers of hard and/or soft lines in the luxury, fashion and consumer goods industries – followed 2009, in which the global economic crisis severely affected the apparel and fast-moving consumer goods markets, with a year of significant growth and success.
“Our efforts in becoming stronger, smarter and more focused than ever are paying off,” says Chris Groves, president and CEO. “Successes in the luxury industry, major customer wins and expansion into mobile PLM markets fueled record growth in important sectors, and set the stage for key Series C financing.”
Among the company’s highlights:
- Revenue growth: For its fiscal year closing Jan. 31, Centric experienced 200 percent revenue growth in Europe over the prior year, and 100 percent growth worldwide in the fast-moving consumer goods market over the prior year.
- Customer wins: Major customer wins included Balenciaga; Longchamp; Christine Laure; Western Glove Works/Silver Jeans Co.; Fox Head, Inc.; and Bravo Sports Corporation. The concentration of customers in France – with the new companies joining Groupe Overall (Dellalui, El Internationale), INTERSPORT France, and Le Coq Sportif – solidifies Centric’s position as the PLM leader in the French fashion industry.
- Record implementations: Centric continues to prove that companies can generate returns on their PLM investment in the short-term – specifically, within three to four months, or sooner. Bass Pro Shops Group was able to start using the Centric 8 PLM suite just one week into implementation, and Western Glove Works/Silver Jeans Co. set a record for a 12-week implementation.
- Expansion in luxury sector: With customers such as Longchamp and Balenciaga coming on board, Centric continues to anchor its position in the luxury sector. According to Groves, customers in the luxury goods industry value Centric’s "rich functionality," ease of use, ability to handle multiple category products, and understanding that material choices and quality excellence drive product development and brand standards.
- Expansion into mobile PLM products: Centric introduced patent-pending mobile applications that connect customers' products and the consumer more closely than ever. The Centric 8 Collection Book for Fashion iPad App links data from the Centric 8 PLM system to customers through an interactive mobile device, allowing fashion houses and designers to present their collections to buyers for ordering significantly sooner and more accurately.
- Customer leadership: Representatives from the apparel, sporting goods and recreation, consumer electronics, home products, office products and outdoor products industries conferred on topical issues – ranging from compliance management and mobile applications to the development of Chinese suppliers – as part of Centric’s Consumer Advisory Board.
“The year has demonstrated that Centric provides the value and results companies need to improve their competitive positions,” says Groves. The results set the stage for increased investor commitment to the company, which culminated in the late-February close on $7.5 million in Series C venture capital financing. “This investment provides the impetus for Centric to build on our growth and product leadership,” adds Groves.
Centric Software, Inc. (http://www.centricsoftware.com)
Centric Software is a leading provider of product lifecycle management (PLM) solutions for makers of hard and/or soft lines in the fashion and consumer goods industries. Centric 8 delivers easy-to-use functionality to manage critical, inseparable business processes, including product development, sourcing, line planning and profitability management, through a modularized system that implements and delivers value rapidly.
With Centric 8, companies are able to cut costs and inefficiency, speed new products to market, drive margin improvement, and improve global collaboration and compliance. Global enterprises including INTERSPORT France, Christine Laure, Balenciaga, KlimUSA, Bass Pro Shops, Bravo Sports, Longchamp, Silver Jeans Co. and United Stationers use Centric solutions to achieve revenue growth, reduce costs and deliver trend-right products to their customers.
Centric is a registered trademark of Centric Software. All other brands and product names may be trademarks of their respective owners.
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