Perfect Moment Teams with Quiet Platforms to Establish Distribution Center in U.S.

Rhea-AI Summary

Perfect Moment (NYSE American: PMNT), a luxury skiwear and lifestyle brand, has partnered with Quiet Platforms to establish distribution and order fulfillment centers across the U.S. This move aims to meet growing global multichannel demand and improve margins. The company expects to lower fulfillment costs and enhance customer experience through localized U.S. fulfillment.

Key benefits include:

• Paying duties based on transfer prices instead of higher retail prices
• Reduced shipping costs
• Improved eCommerce margins in the second half of the fiscal year
• Enhanced shipping and returns processing

Perfect Moment's U.S. sales reached nearly $10 million, representing over 40% of total net revenues in the last fiscal year. The company will utilize Quiet Platforms' Click2Door AI-powered solution for rapidly scalable logistics.

Positive

• Establishment of first U.S. distribution center to meet growing global demand
• Expected improvement in eCommerce margins due to lower duty and shipping costs
• U.S. sales reached nearly $10 million, over 40% of total net revenues in last fiscal year
• Implementation of AI-powered logistics solution for scalable operations
• Potential for increased customer engagement and sales through streamlined online experience

Negative

• Current costly import duties due to dispatching U.S. orders from the UK

Insights

Supply Chain Expert

The decision by Perfect Moment to establish a U.S. distribution center in partnership with Quiet Platforms is a strategic move that directly impacts their supply chain efficiency. By leveraging Quiet Platforms' AI-driven logistics solutions, Perfect Moment stands to significantly reduce shipping costs and import duties. This move will allow the company to pay duties based on transfer prices, which are generally lower than retail prices, leading to substantial cost savings. Additionally, localized fulfillment centers will improve delivery times and customer satisfaction, thereby enhancing the overall shopping experience. These improvements are expected to bolster Perfect Moment's eCommerce margin and drive higher engagement and sales in the U.S. market.

From a supply chain perspective, the use of AI to optimize logistics is a forward-thinking approach that can provide real-time data for better decision-making and agility. This could set a precedent for other luxury brands looking to optimize their supply chains in a post-pandemic world where eCommerce is rapidly growing.

Financial Analyst

Financially, this partnership is likely to have a profound impact on Perfect Moment's bottom line. U.S. sales already account for a substantial portion of their revenue—nearly $10 million, or more than 40% of total net revenues. By reducing costs associated with import duties and shipping, the company is poised to see better profit margins in the second half of the fiscal year. This is particularly significant as improved margins can lead to higher net income and potentially better earnings per share (EPS), which are critical metrics for stock market investors.

Moreover, the collaboration with Quiet Platforms could lead to scalable growth opportunities. Investors should note that effective supply chain management is important for sustaining growth, especially when expanding in a competitive market like the U.S. The predictability of per-order costs enabled by the Click2Door platform will allow for more accurate financial forecasting and budgeting, enhancing financial stability.

Market Research Analyst

From a market expansion standpoint, this move is a calculated effort to capture a larger share of the U.S. luxury lifestyle and skiwear market. The U.S. market's existing contribution of more than 40% to Perfect Moment's total net revenues underscores its importance. By improving logistics and reducing fulfillment costs, the company can offer more competitive pricing and quicker delivery times, which are key factors for online shoppers.

This strategic partnership also opens the door for Perfect Moment to leverage Quiet Platforms' extensive network for future growth. The emphasis on an enhanced customer shopping experience, facilitated by AI-driven logistics, aligns well with the increasing consumer demand for fast and efficient service. As consumer expectations continue to evolve towards quicker and more reliable deliveries, Perfect Moment is positioning itself to meet these demands effectively.

Retail investors should see this as a positive move that aligns with current market trends and customer expectations, potentially leading to increased market share and long-term growth.

• Perfect Moment to open first distribution center outside UK to help meet growing global multichannel demand and improve margins.
• Local U.S. fulfillment center will improve customer shopping experience and lower fulfillment costs.
• Quiet Platforms’ Click2Door AI-powered solution enables rapidly scalable logistics for Perfect Moment.

LONDON--(BUSINESS WIRE)-- Perfect Moment Ltd. (NYSE American: PMNT), the high-performance, luxury skiwear and lifestyle brand that fuses technical excellence with fashion-led designs, has partnered with Quiet Platforms, a wholly owned subsidiary of American Eagle Outfitters Inc. (NYSE: AEO), to establish distribution and order fulfillment centers in key markets across the U.S.

Perfect Moment Teams with Quiet Platforms to Establish Distribution Center in U.S. (Graphic: Business Wire)

Quiet Platforms streamlines supply chains for high-growth brands through its nationwide network of strategically located fulfillment centers and last-mile delivery solutions—all orchestrated by cutting-edge data science and AI.

Perfect Moment currently dispatches its U.S. eCommerce customer orders from the United Kingdom, resulting in costly import duties. The new U.S. distribution centers will allow the company to pay duties based on transfer prices rather than higher retail prices, as well as lower its shipping costs. In addition to helping lower order fulfillment costs, Quiet Platforms’ AI-powered localized delivery system will improve the customer shopping experience with enhanced shipping and returns processing.

Perfect Moment expects to build upon its already rapidly expanding U.S. customer base, with its U.S. sales reaching nearly $10 million—or more than 40% of total net revenues—in its last fiscal year.

“Partnering with a cutting-edge supply chain management leader like Quiet Platforms accelerates our ambitious plans for the U.S. market and growing our multichannel business,” noted Perfect Moment CEO, Mark Buckley. “We expect the lower duty and shipping costs to greatly improve our eCommerce margin in the second half of the fiscal year. Moreover, we see the streamlining of our online customer’s journey to stimulate greater engagement and sales.”

Perfect Moment will use Quiet Platforms’ Click2Door platform, an end-to-end fulfillment and delivery solution, to permit predictable per-order costs that encompass the entire order journey, including receiving and storage, pick and pack, and last mile delivery.

“At Quiet Platforms we go beyond logistics to empower high-growth brands to achieve their full potential,” stated Bill Besselman, Quiet Platforms’ SVP of Supply Chain Strategy. “We look forward to being a trusted partner invested in the long-term growth and success of Perfect Moment.”

About Quiet Platforms

For digital-first brands and retailers facing complex supply chain challenges, Quiet Platforms streamlines supply chains through a nationwide network of strategically located fulfillment centers and last-mile delivery solutions, all orchestrated by cutting-edge data science and AI. Trusted by over 30 globally renowned retailers, including American Eagle, Todd Snyder, Pehr and Tipsy Elves, we understand the need for efficiency and meeting the customer promise. For more information, visit quietplatforms.com.

About Perfect Moment

Founded in 1984 in the mountains of Chamonix, Perfect Moment is a high-performance luxury skiwear and lifestyle brand. It blends technical excellence with fashion-forward designs, creating pieces that effortlessly transition from the slopes to the city, the beach, and beyond.

Initially the vision of extreme sports filmmaker and professional skier Thierry Donard, the brand was built on a sense of adventure that has sustained for over 20 years. Donard, fueled by his personal experiences, was driven by a desire to create pieces that offered quality, style and performance, pushing the wearer in the pursuit of every athlete’s dream: to experience ‘The Perfect Moment.’

In 2010, British-Swiss entrepreneurial couple Jane and Max Gottschalk took ownership of the brand. Under Jane’s creative direction Perfect Moment was injected with a new style focus, one that reignited the spirit of the heritage brand, along with a commitment to improving fit, performance and the use of best-in-class functional materials. As such, the designs evolved into the distinct statement pieces synonymous with the brand as we know it today.

Today, the brand is available globally, online and via key retailers, including MyTheresa, Net-a-Porter, Harrods, Selfridges, Saks, Bergdorf Goodman and Neiman Marcus.

Learn more at www.perfectmoment.com.

Important Cautions Regarding Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,” “will,” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based on our current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ from those contained in the forward-looking statements, include those risks and uncertainties described more fully in the section titled “Risk Factors” in the final prospectus for our initial public offering and in our Form 10-K for the fiscal year ended March 31, 2024, filed with the Securities and Exchange Commission. Any forward-looking statements contained in this press release are made as of this date and are based on information currently available to us. We undertake no duty to update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240722738513/en/

Company Contact

Jeff Clayborne, CFO

Perfect Moment

Tel +44 (0)204 558 8849

Email contact

Investor Contact

Ronald Both or Grant Stude

CMA Investor Relations

Tel (949) 432-7566

Email contact

Source: Perfect Moment Ltd.

FAQ

What is Perfect Moment's (PMNT) strategy for expanding in the U.S. market?

Perfect Moment (PMNT) is partnering with Quiet Platforms to establish distribution and order fulfillment centers across the U.S., aiming to meet growing demand, improve margins, lower fulfillment costs, and enhance customer experience through localized U.S. fulfillment.

How much did Perfect Moment (PMNT) generate in U.S. sales in its last fiscal year?

Perfect Moment (PMNT) generated nearly $10 million in U.S. sales in its last fiscal year, which represented more than 40% of the company's total net revenues.

What benefits does Perfect Moment (PMNT) expect from its partnership with Quiet Platforms?

Perfect Moment (PMNT) expects to pay lower duties based on transfer prices, reduce shipping costs, improve eCommerce margins, enhance shipping and returns processing, and potentially increase customer engagement and sales through a streamlined online experience.

What technology will Perfect Moment (PMNT) use for its U.S. logistics operations?

Perfect Moment (PMNT) will use Quiet Platforms' Click2Door platform, an AI-powered end-to-end fulfillment and delivery solution, to manage its U.S. logistics operations with predictable per-order costs.