Buying Solutions

May 18, 2023

Montreal, Quebec, CANADA MONTREAL, May 17, 2023 (GLOBE NEWSWIRE) -- 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 pleased to announce that it has renewed its partnership with Saks, the premier digital platform for luxury fashion, for another four years. The platform has streamlined previously manual processes, slashing time spent on order creation by 50% and reducing time spent on purchase orders and item creation by a remarkable 90%. Tapping into Exponential Efficiency By adopting NuORDER by Lightspeed, Saks has modernized how it connects with brands and buyers. This collaboration enables Saks to digitize its buying and merchandising processes, make data-driven decisions and accelerate its go-to-market strategy, improving customer experience. Further, NuORDER by Lightspeed increases assortment visibility and empowers merchant teams to curate buys dynamically. "At Saks, we are committed to delivering the best of luxury both on Saks.com and in Saks Fifth Avenue stores. NuORDER by Lightspeed has enabled us to unlock new levels of efficiency as we continue to offer an unmatched assortment expertly curated for the lifestyles of the full range of luxury consumers,” said Tracy Margolies, Chief Merchandising Officer, Saks. “We look forward to continuing our partnership with NuORDER by Lightspeed and leveraging this innovative technology for the benefit of our customers, brand partners and merchandising team." The Power of NuORDER by Lightspeed The groundbreaking platform allows Saks to visualize and develop assortments in real-time, catering to different markets and offering consumers the most sought-after, high-quality merchandise. The technology also fosters seamless collaboration between marketing and digital teams, ensuring alignment on a single vision for featured items in marketing campaigns. "We're thrilled to provide essential technology that enhances Saks' ability to buy for their luxury customers with the goal of driving business growth," said Olivia Skuza, Co-founder of NuORDER and GM, B2B at Lightspeed. "It's been exciting to see the wide-scale adoption by their teams and how deeply it has impacted their business over the last few years." Saks and NuORDER by Lightspeed look forward to continuing to enhance operational efficiencies and the customer experience over the next four years. For more information about Saks and its partnership with NuORDER by Lightspeed, please visit www.saks.com and www.nuorder.com . About NuORDER by Lightspeed NuORDER by Lightspeed is a leading B2B platform powering commerce and discovery for the world's best brands and retailers. The platform includes virtual showroom technology, visual assortment and merchandising tools, and integrated payments solutions. Today, more than 3,000 brands and more than 100,000 retailers use NuORDER by Lightspeed to streamline the wholesale buying and selling process. Lightspeed acquired NuORDER in 2021. For more information, see www.nuorder.com . 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 .