YAY METHOD
In under 3 months, we developed 12 private label brands using the YAY METHOD
When COVID hit the pressure to adapt and change with technology grew even more. Consumer habits changed and the challenge of developing a fashion product under stiff deadlines and a lean budget was daunting for fashion retailers. A Sports Retail Company was looking to achieve fast growth in e-commerce, make informed merchandising decisions, and discover new markets.
Since our timelines were drastically compressed to launch 12 private label brands we used the YAY METHOD, to build the House Brand foundation assortment that was the base for all 12 brands and many more to scale with ease.
More about the project.
After the Discovery phase we prepared the road map of 3 phases –  Define / Measure / Analyze, Improve / Design, Implement and Control) with key deliverables and timelines for each phase.
Since our timelines were drastically compressed to launch 12 private label brands we took a path of the Lean Design Model, where we analyzed sales for the past 3 years and applied the 80/20 rule to identify the core product that drove the most sales. That is the product we used to build the House Brand foundation assortment that was the base for all 12 brands and many more to scale with ease.
We applied the YAY method to address the Core business and this is how we did it: we Defined each area of business that needed improvement with a detailed project charter and timeless. We Measured and Analyzed each process’s current state. We measured the actual time it took and identified the pockets that caused the most delays. We then performed Process Value Mapping and identified Process steps that were Value added, Non-Value added, or essential to the customer.
We built product web image standards and processes of creation to drive higher conversion on the sites based on the proven model across multiple organizations that have adopted it so far. We were able to increase the conversation rate for the client from 2.2% to 5%.
We then moved into the implementation and Control phase that took freed up resources across the company. The implementation also included new PLM, REPORTING, a Data depository, a vendor portal, PIM systems implementations, SOP’s Cross Functions training, and an organizational shift that drove an increase of the net profit margins by 15% over the course next 2 years.
