Returns specialist ReBOUND, which works with the likes of ASOS, Gymshark and Sweaty Betty, has been acquired by recycling and waste management giant Reconomy.
The company will continue to operate under its own name but will share tech, data and services across the Reconomy Group, which also includes Reverse Logistics Group (RLG); Cycleon, the European returns logistics and compliance specialists, and Valpak, the UK’s largest packaging compliance scheme and data insight provider.
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.
The acquisition is the latest in a line of investments by Reconomy. Paul Cox, Reconomy CEO, said: “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”.
Graham Best, ReBOUND founder & CEO, said: “We’ve always prided ourselves on helping retailers recognise the value of their returns data. Uniting with Reconomy Group’s incredible resources now means there are boundless opportunities for retailers to apply that data to tackle returns sustainably, from knowing which worldwide recycling services are available to tap into, to supercharging advanced analytics to sell items that customers actually want to keep.”