Switching From QuickBooks, Winky Lux Improves Supply Chain and Inventory Management

Switching From QuickBooks, Winky Lux Improves Supply Chain Planning and Inventory Management as Sales Soar

Winky Lux takes a fun and delightful approach to makeup and skin care. Using ethically sourced ingredients, the New York-based brand manufactures its products so that they align with trends: Think Unicorn Glimmer Lip Balm that shimmers on TikTok and Cheeky Rose Blush dropped just before Valentine’s Day. For nearly seven years, Winky Lux has served up affordable products that feel like luxury through a direct-to-consumer ecommerce site, brick-and-mortar brand stores and major retailers.

Company

Winky Lux

Location

New York, NY

Industry

Health And Beauty

EMPLOYEES

50 to 99

Revenue

$25M-50M

Applications Replaced

Fishbowl
QuickBooks

NETSUITE PRODUCTS IMPLEMENTED

NetSuite ERP
NetSuite Inventory Management
NetSuite Demand Planning
NetSuite Learning Cloud Support

“NetSuite solved our problem of having too many systems. It became the brain of everything at our business, and it keeps us organised.” Nathan Newman, Co-founder & COO, Winky Lux

A Beauty Business Doubles, Then Prepares to Double Again

Opening up sales channels: In 2020, Winky Lux doubled annual sales to $20 million when it began selling in Target. Combined with other partners like Nordstrom and Ulta Beauty, Winky Lux sells in some 3,000 individual retail locations worldwide, plus its two brand stores and ecommerce channel. The team works with factories in the US and globally, from China to Germany, to launch products quickly in response to trends.

Stuck in a Fishbowl: Winky Lux was running its financials, inventory and ecommerce on QuickBooks, Fishbowl Inventory and Shopify amid supply chain snags. The team had to update multiple systems every time PO details changed, wasting time as sales soared. Emailing and texting overseas suppliers led to updates slipping through the cracks: When a supplier had to redo an order or was late, Winky Lux paid seven times more to ship items by plane versus boat in hopes of meeting its delivery date with a retailer.

The beauty of a central system: Winky Lux now manages accounting, inventory and demand planning in one system, NetSuite, integrated with Shopify for ecommerce and SourceDay for supplier collaboration. The company’s demand planner uses customised NetSuite reports to determine the materials needed from suppliers and automatically generate POs. POs flow into SourceDay, where suppliers can make changes to prices or quantities which reflect back in NetSuite. Automating PO changes has eliminated most manual processes, and Winky Lux no longer has to deal with missed supplier updates and acknowledgements.

A glittering future: Winky Lux now hits delivery dates with more accuracy, staying in retailers’ good graces and avoiding chargebacks. This year, it’s expanding its presence in Ulta Beauty, opening four more of its own stores and hosting more Instagram Lives, which include coupon codes for viewers and drive impressive sales bumps during and after streaming. Combined, these efforts will make for an expected 40% sales growth this year. The current team will accommodate this growth with the efficient, error-free processes they’ve built in NetSuite and SourceDay. And they’ll continue to automate processes as they roll out new products, confident that NetSuite, along with SourceDay’s “Built for NetSuite” platform, can handle another doubling of the business.

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