About Azio Beauty
Founded in April 2022, Azio Beauty is a self-financed venture that stands firm on its belief that high-quality skincare should not be a privilege but a right for every woman. Our core principle is to defy the conventional beauty industry norms, where the typical product is marked up at least 12 times its manufacturing cost. We pledge to deliver efficient skincare solutions that don't come with a luxury price tag, ensuring quality skincare for all.
The Problem
Azio Beauty, since its inception, achieved remarkable growth, generating £2 million in revenue within the first year and maintaining a monthly growth rate of 20%. This self-sustained growth strategy presented unique challenges in inventory management and financing. While the reliance on pre-orders fueled internal growth, it also introduced complexities, potentially leading to customer dissatisfaction and reduced profitability.
Commenting on the problems Azio Beauty faced before using Prediko, co-founder Jonathan Penna, said:
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Jonathan Penna, co-founder & CEO at Azio Beauty
How Azio Beauty solved this using Prediko
To address these challenges, Azio Beauty partnered with Prediko. The product offers solutions aligned with Azio Beauty's needs, including growth scenario planning, advanced inventory management, and financial solutions.
Read: Prediko helped Obsidian Piercing create a streamlined inventory operations workflow
Prediko offers growth scenario planning, allowing Jonathan to create models based on seasonality and ad campaigns for informed decision-making. It also provides robust inventory management, helping Jonathan and his team assess inventory status, plan orders, and generate reports on product performance and inventory value.
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Results
Since implementing Prediko's solutions, Azio Beauty has seen significant improvements in key areas:
- Enhanced Inventory Management: Azio Beauty can now efficiently manage inventory, reducing overstocking and ensuring key products are consistently available, improving inventory turnover and sales.
- Financial Stability: Azio Beauty's financial stability has been maintained by financing inventory through Prediko, smoothing cash flow associated with a pre-order model.
- Elevated Customer Satisfaction: Improved inventory management ensures customers no longer have to wait for pre-ordered items, enhancing their satisfaction.
Read: How Kimaï leverages Prediko to save 20 hours/week on inventory operations.
