Reconomy, the UK's largest recycling and waste management company, has acquired ReBound Returns, the innovation network that helps companies such Asos, Gymshark, and Sweaty Betty handle returns sustainably.
According to ReBound data, the move would “supercharge” retail's sustainability efforts as the sector continues to address the environmental effects of surging global return volumes, which have increased by 65% since the Covid-19 pandemic.
The acquisition is part of Reconomy's goal to become a leading global enabler of the circular economy, and it is the latest in a series of acquisitions as part of its strategic growth strategy. RLG and Cycleon, European returns logistics and enforcement experts, and Valpak, the UK's biggest packaging compliance scheme and data insight provider, will join ReBound as technology-enabled sustainability service providers.
Although continuing to create ways for retailers to transform their returns practices, ReBound will continue to work under its own name while collaborating closely around the Reconomy Group, exchanging technologies, data, and services.
Reconomy chief executive, Paul Cox, said the addition of ReBound to the Reconomy Community is a huge step forward, and they extend a warm welcome to the whole squad. Their innovative approach, underpinned by great technology and a commitment to delivering an exceptional user interface, is a perfect match for Reconomy.
He adds during the pandemic, sustainable returns have become ever more important, and many companies seeking to meet high environmental expectations are facing a challenge. As they continue to develop an unrivaled range of resources to help propel the circular economy on the ground, ReBound's experience, together with the Reconomy Group's current returns operations, will bring direct, special benefits to their customers.
The acquisition of ReBound broadens the Reconomy Group's technology-enabled environmental services, which it claims will ultimately favor consumers, who will be able to track returns, alongside resource management, setting and monitoring a common set of KPIs in one location.
Graham Best and Phil Smith founded ReBound in 2014, and it has since grown to become a market leader in controlled returns services, assisting brands in understanding what is being returned to them and why, as well as offering a variety of solutions on what to do with inbound products. The organization specializes in assisting fashion brands in reducing the environmental footprint of packaging, shipping, and processing returns, by assisting them in calculating the most carbon-efficient routes, eliminating unnecessary transportation miles, and recycling products wherever possible.
Graham Best, ReBound founder, and chief executive said about the Reconomy acquisition that retail is facing an environmental crisis as a result of the lockdown-inspired e-commerce boom, and this is the perfect relationship to help marketers defuse the ticking time bomb. They've always taken pride in assisting retailers in recognizing the importance of their returns data at ReBound.
He adds joining forces with Reconomy Group's incredible resources now opens up a world of possibilities for retailers to use data to manage returns in a sustainable way, from determining which global recycling programs are available to supercharging advanced analytics to market products that consumers really want to keep.
Reconomy is the UK's market-leading supplier of outsourced circular economy services, such as recycling, waste, and resource management. It partners with thousands of UK enterprises, ranging from SMEs to major blue-chip corporations, to help them handle their waste in a responsible, sustainable, and cost-effective manner while enhancing consumer experience through technology.
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