How Kinona utilized reserved stock to gain visibility into their wholesale channels
Noticing a need in the market for designer golf apparel, Kinona was born in January 2018 with the goal of creating a line of flattering and functional style for women golfers. Throughout the past year, Kinona has found themselves selling online, through wholesale, and even at trunk shows during house parties. To make their customers feel more comfortable and gain a further reach in their market, Kinona decided to sell wholesale to a variety of retailers and marketplaces. In adapting to meeting customers where they prefer to buy, Kinona encountered a need to manage their operations more effectively.
As Kinona’s fanbase grows, the ability for their customers to purchase where they prefer to buy was crucial. Expanding quickly to wholesale and pop-ups demanded Kinona to integrate their multichannel selling and ensure an efficient operational workflow.
Kinona operates as a multichannel brand, using BigCommerce as their ecommerce and point-of-sale platform for their trunk show pop-ups. As Kinona moved up-market, the demand for wholesale became apparent, and with that, additional operational complexities were revealed.
Reserved stock and wholesale invoicing
Expanding to wholesale is a pattern brands that want a further reach sometimes decide to do as they continue to scale, reaching customers wherever they prefer to shop. BigCommerce provides Kinona with a “source of truth” for their orders with forecasting and budget data, but Kinona needed a way to manage the demands of their wholesale customers.
Invoicing and managing accounts receivable is a non-negotiable for Kinona. Before Stitch, Keith Heffernan, CFO, had trouble understanding which wholesale accounts were open, which have shipped, which wholesale customers have paid, and which haven’t. It was difficult to keep track of stock that needed to be reserved for wholesalers, and as a lean-teamed brand, it was imperative for Keith to have this sorted out.
Finding an operations platform that was able to manage accounts receivable for their new wholesale initiative was imperative. Keith notes, “Stitch is best at figuring out what orders are open, which have shipped, which customers have paid and which haven’t. So I think just that functionality alone will help us manage our accounts receivable a whole lot better.”
While Kinona was looking for the right solution, Keith looked at a few different platforms, but none of them were as turn-key as Stitch. After discussing it with a few peers in the retail industry, he decided it was the best solution to get the wholesale side of his business streamlined.
“From a wholesale standpoint, we had customers requiring invoices tailored in a certain way. As we got more traction in the wholesale side of the business, we also needed a way to reserve wholesale inventory. So having that invoice solution and reserved wholesale inventory within Stitch has been very helpful.” – Keith Heffernan, CFO
The implementation process for Kinona was an important part of going with Stitch; Keith leads a lean team and keeps occupied with a lot of the other developmental tasks that are required of him. Tami and her business partner, Dianne–both co-founders–have an extensive retail background, but don’t have the technical skills or the ability to hire an external resource to act as a developer. It was also not an option to halt business to implement necessary platforms: as a small team with demanding customers, Kinona needed a solution implemented, and was able to do so in 8 weeks.
Before Stitch, Kinona had a difficult time understanding their accounts receivable, siphoning wholesale stock, and figuring out which shipments are still open or if they’ve been completed. After implementing Stitch, Kinona was able to:
- Understand the status of each order
- Keep track of invoices to wholesalers and manage accounts receivable
- Reserve stock for wholesale accounts
- Maintain a tight implementation timeline, with the help of our implementation and customer success teams
We’re excited to see Kinona making the golf world a bit more fashionable, one outfit at a time. To learn more about Kinona or get ready for your next golf tournament, visit their website at www.kinona.com.
"A lot of the companies that I looked at didn't help you through the implementation process. I think more of the onus was on the owner to set it up. The thing that I liked about Stitch Labs was that it was more turnkey and there was a team that walked you through the implementation. Being as small as we are, we just don't have those skills in-house, and we don't really have that development or technical person that can take care of that."
Keith Heffernan, CFO | Kinona