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Reconomy Group Acquires ReBOUND

Reconomy Group Acquires ReBOUND
10 May 2021
 

Reconomy has acquired ReBOUND, the technology platform helping brands such as ASOS, Gymshark and Sweaty Betty manage their returns sustainably.

ReBOUND will continue to operate under its own name while collaborating closely across the Reconomy Group, sharing technology, data and services.

The acquisition is the latest in a line of investments as part of Reconomy’s strategic growth plan as the company pursues its ambition of becoming the leading global, asset-light circular economy platform.

 

Sustainability in Retail

 

Global return volumes have risen by 65 per cent during the COVID crisis, according to ReBOUND data, and tackling the environmental impact is an ongoing sustainability challenge for retailers. 

The acquisition will combines ReBOUND’s specialist returns platform with Reconomy Group’s portfolio of technology-enabled environmental services, including those provided by Reverse Logistics Group (RLG) and Cycleon, that help organisations tackle sustainability in a meaningful, cost-effective way. 

Founded in 2014 by Graham Best and Phil Smith, ReBOUND is a global leader in managed returns services, helping brands understand what’s being sent back to them and why, as well as providing a range of options on what to do with inbound items. The company specialises in working with fashion brands to offset the environmental impact of packaging, shipping and processing returns, helping brands calculate the most carbon-efficient routes, eliminate wasted transport miles and recycle goods wherever possible.

Paul Cox, Reconomy CEO, said: “Adding ReBOUND to the Reconomy Group is a very exciting development and we extend a warm welcome to the whole team. Their innovative approach, underpinned by great technology and a focus on providing an excellent user experience, makes for a perfect fit with Reconomy.

"Sustainable returns have taken on even more importance during the pandemic and represent a challenge for many businesses looking to achieve high environmental standards. ReBOUND’s expertise, combined with the Reconomy Group’s existing returns activity, will offer clear, unique benefits to our customers as we continue to build an unrivalled set of services to help drive the circular economy on the global stage”.

 Picture: a photograph of a postal tube

Article written by Ella Tansley | Published 10 May 2021

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