Lightspeed Tackles Supply Chain Crisis by Connecting Major Brands and Retailers

Rhea-AI Summary

Lightspeed Commerce Inc. (NYSE: LSPD, TSX: LSPD) is enhancing the retail ecosystem by connecting brands, stores, and consumers through its NuORDER platform. Key partnerships with brands like Coach and rag & bone aim to address supply chain challenges. The platform simplifies ordering processes, allowing retailers to make data-driven decisions and reducing inefficiencies in the supply chain. This initiative democratizes technology access for businesses, benefiting both large and small merchants and ultimately improving customer experiences.

Positive

• Acquisition of NuORDER strengthens Lightspeed's position in the retail ecosystem.
• Partnerships with high-profile brands like Coach, rag & bone, and Citizens of Humanity enhance credibility.
• NuORDER's platform simplifies the product ordering process for retailers, aiding in efficiency.

Negative

• None.

Working with marquee brands like Coach, rag & bone, and Citizens of Humanity, Lightspeed accelerates its mission to connect brands, stores and consumers under a unified network

MONTREAL, Dec. 9, 2021 /PRNewswire/ - Lightspeed Commerce Inc. (NYSE: LSPD) (TSX: LSPD), the one-stop commerce platform for merchants around the world to simplify, scale and create exceptional customer experiences, is revolutionizing the modern retail ecosystem by bridging the merchant and brand experience to aid in addressing supply chain challenges in the industry. The NuORDER by Lightspeed platform utilized by The Bay and other mega-retailers as well as household-name brands like Coach, rag & bone, and Citizens of Humanity, will empower merchants and consumers to avoid future delays in the "last mile" of global supply chains – where the right products need to be available, for the right customers, at the right time. 

The NuORDER by Lightspeed platform directly connects buyers and brands with its user-friendly and elegant interface to help retail buyers make data-driven decisions, collaborate with vendors, and expedite the go-to-market process. 

"Major retailers are adopting the innovative technology that Lightspeed is bringing to the market, which ultimately benefits the independent businesses we care deeply about. This democratizes access to technology that will help eliminate waste and inefficiency in retail and help overcome supply chain delays," said Lightspeed President JP Chauvet. "The entire buying and merchandising process is being revolutionized with NuORDER by Lightspeed's powerful technology that supports both retailers and brands. These latest announcements highlight our traction in the industry and the demand we are meeting with our platform."

Lightspeed recently acquired NuORDER to help create an industry-leading bridge between the merchant and brand experience by simplifying product ordering for retailers and offering brands crucial insight into how their products move. This integration will build out Lightspeed's ability to serve not just independent merchants, but brands and large-scale retailers as well – leveraging data and resources across these groups to benefit merchants, brands, and customers across the globe.

This new solution will help democratize commerce, enabling large and small merchants alike to better maximize efficiencies using the same enterprise-quality technology. Lightspeed will connect buyers and brands to build better product lines with minimal friction, ultimately benefiting consumers shopping in their homes or in the store and taking pressure off over-taxed global supply chains. 

The NuORDER by Lightspeed platform directly connects buyers and brands for The Bay in real time to visualize and develop assortments, localize and cater to different markets, and complete orders and deliver products to consumers. NuORDER by Lightspeed's technology will accelerate the digitization of The Bay's buying and merchandising processes with its visually-driven and intuitive platform to help buyers make data-driven decisions, collaborate with vendors, and expedite the go-to-market process.

"We are driving a customer-centric approach across our business, and the NuORDER by Lightspeed platform now streamlines our internal process with significant speed and efficiency, and allows us to elevate and cater to market preferences through curated on-trend assortments," says Laura Janney, Chief Merchant, The Bay.  

About Lightspeed 
Powering the businesses that are the backbone of the global economy, Lightspeed's one-stop commerce platform helps merchants innovate to simplify, scale and provide exceptional customer experiences. Our cloud commerce solution transforms and unifies online and physical operations, multichannel sales, expansion to new locations, global payments, financial solutions and connection to supplier networks.

Founded in Montréal, Canada in 2005, Lightspeed is dual-listed on the New York Stock Exchange (NYSE: LSPD) and Toronto Stock Exchange (TSX: LSPD). With teams across North America, Europe and Asia Pacific, the company serves retail, hospitality and golf businesses in over 100 countries.

For more information, see www.lightspeedhq.com

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Forward-Looking Statements

This news release may include forward-looking information and forward-looking statements within the meaning of applicable securities laws ("forward-looking statements"), including information regarding Lightspeed's expectations of acquisition outcomes and synergies, partnerships, product offerings and planned product roadmap. Forward-looking statements are statements that are predictive in nature, depend upon or refer to future events or conditions and are identified by words such as "will", "expects", "anticipates", "intends", "plans", "believes", "estimates" or similar expressions concerning matters that are not historical facts. Such statements are based on current expectations of Lightspeed's management and inherently involve numerous risks and uncertainties, known and unknown, including economic factors. A number of risks, uncertainties and other factors may cause actual results to differ materially from the forward-looking statements contained in this news release, including, among other factors, those risk factors identified in our most recent Management's Discussion and Analysis of Financial Condition and Results of Operations, under "Risk Factors" in our most recent Annual Information Form, and in our other filings with the Canadian securities regulatory authorities and the U.S. Securities and Exchange Commission, all of which are available under our profile on SEDAR at www.sedar.com and on EDGAR at www.sec.gov. Readers are cautioned to consider these and other factors carefully when making decisions with respect to Lightspeed's subordinate voting shares and not to place undue reliance on forward-looking statements. Forward-looking statements contained in this news release are not guarantees of future performance and, while forward-looking statements are based on certain assumptions that Lightspeed considers reasonable, actual events and results could differ materially from those expressed or implied by forward-looking statements made by Lightspeed. Except as may be expressly required by applicable law, Lightspeed does not undertake any obligation to update publicly or revise any such forward-looking statements, whether as a result of new information, future events or otherwise.

Media Contacts:

USA:
Jennifer Fugel
Newsmaker Group
jfugel@newsmakergroup.com

Canada:
Victoria Baker
NKPR
victoriab@nkpr.net

Cydoney Curran
NKPR
cydoney@nkpr.net

Lightspeed Media Relations
media@lightspeedhq.com

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SOURCE Lightspeed Commerce Inc.

FAQ

What is the purpose of Lightspeed's NuORDER platform?

The NuORDER platform connects brands and retailers to simplify the product ordering process and improve supply chain efficiency.

Which major brands are working with Lightspeed?

Lightspeed collaborates with brands such as Coach, rag & bone, and Citizens of Humanity.

How does Lightspeed address supply chain challenges?

Lightspeed's platform streamlines communication between brands and retailers, enabling better inventory management and reducing delays.

What stock exchanges is Lightspeed listed on?

Lightspeed is dual-listed on the NYSE and TSX under the ticker symbol LSPD.

When was Lightspeed's press release issued?

The press release was issued on December 9, 2021.