The Retail Sector’s Growing Need for Inventory Planning
The retail sector has always required effective inventory planning to maintain healthy margins and meet demand. However, with the increasing number of distribution channels, complex supply chains, and shorter sales cycles, this task is becoming increasingly challenging.
A New Era in Retail
In today’s fast-paced retail landscape, mid-market retailers and premium brands are struggling to keep pace with their larger counterparts. While retail giants have the resources to invest in cutting-edge technology, smaller players often rely on legacy software that may not be equipped to handle the complexities of modern retail.
The Rise of Autone
Founded in 2020, Autone aims to revolutionize inventory planning for retailers by providing a platform that can forecast demand, aid sales, and reduce waste. The company has now secured $17 million in Series A funding, led by General Catalyst, with previous investors also participating.
A Brief History of Autone
Born and raised in Paris, Autone co-founder and CEO Adil Bouhdadi first became interested in sneaker culture in the early 2000s. He later pursued a career in luxury fashion, but struggled to gain connections in the industry. However, after refreshing the LVMH career website incessantly, he landed an internship at Givenchy.
A Master’s Degree and a Break
After completing his Masters’ degree in 2013, Bouhdadi secured a break at Alexander Wang in New York, followed by stints at Victoria Beckham in London and Alexander McQueen in 2015. During his time at Alexander McQueen, he collaborated with colleague Harry Glucksmann-Cheslaw (now Autone CTO) on an internal inventory platform that significantly boosted the brand’s revenue.
A Muslim and Jewish Partnership
Bouhdadi comes from a Muslim family who moved to Paris from Morocco, while his co-founder hails from a Jewish family who escaped the Holocaust in the UK. This diverse background may seem unconventional for a tech startup, but it has undoubtedly contributed to Autone’s unique perspective on inventory planning.
The Alpha Version
According to Bouhdadi, during their time at Alexander McQueen, they realized that everyone in the company was using Excel to manage inventory. This realization sparked the creation of the alpha version of Autone, which aimed to streamline and automate the process.
Autone’s Vision
Autone’s platform can analyze a retail brand’s products over the next 12 months, enabling them to:
- Purchase raw materials within one month instead of three
- Reduce inventory risk
- Implement variable supply chains
Notable Customers
Autone now counts companies such as Courreges, Roberto Cavalli, Stussy, and Zadig&Voltaire among its customers.
The Funding Round
With the $17 million Series A funding round, Autone has raised a total of $20 million, including a previous $3 million seed round led by Speedinvest. The company’s competitors include Anaplan, Blue Yonder, and Relex.
The Future of Inventory Planning
As the retail sector continues to evolve, Autone is poised to play a significant role in shaping the future of inventory planning. With its innovative platform and experienced leadership team, the company is well-equipped to tackle the challenges faced by retailers today.
About the Author
Mike Butcher is Editor-at-large of TechCrunch, with a background in tech journalism that spans over two decades. He has written extensively on various topics related to technology, including AI, space exploration, and startups.
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