Debuts with an Impressive Network of
Partners
NEW
YORK, July 18, 2024 /PRNewswire/ -- Reshop is a
new platform redefining refunds for consumers and merchants,
debuting with a strong lineup of launch partners, including premium
lifestyle brand Alo Yoga, iconic American footwear brand
Steve Madden, and Orveon's
collective of premium cosmetic brands (bareMinerals, Laura Mercier, and Buxom), as well as leading
post-purchase provider Narvar.
Typically, consumers wait days or even weeks to receive their
money back after making a return. Reshop, however, is transforming
this antiquated system by removing the wait time for shoppers to
get their money back. It is not store credit, Reshop instead frees
up funds that normally sit dormant, immediately putting power back
in the hands of consumers to spend their refund right away,
wherever they want.
"We see an opportunity to disrupt a traditional process to
deliver unique value to both merchants and consumers," said
Katie Pridham, Chief Commercial
Officer at Reshop. "With Reshop, customers can receive instant
refunds—offering them greater flexibility, control, and confidence
to shop again right away. For merchants, Reshop can help transform
what has historically been a loss into an opportunity to recapture
customers and drive additional revenue."
Data reveals that 90% of shoppers would make repeat purchases
from a merchant that offers instant refunds and 2/3 of Americans
believe returns are the absolute worst part of shopping. Reshop and
its partners are on a mission to enhance this experience and see
fast refunds as a way to minimize consumer and merchant pain
points.
"We're thrilled to partner with Reshop as we continually seek
innovative ways to enhance our customers' shopping experience.
Through this partnership, we will offer shoppers greater
flexibility by receiving refunds immediately, ultimately improving
the overall post-purchase experience for our customers," said
Josh Krepon, President of US DTC
& Global Digital at Steven Madden.
Reshop's partnership with Narvar integrates into existing
platforms and the return operations of new and existing Narvar
merchants, which has over 1,400 renowned partners serving 90% of
all U.S. adult consumers.
The Reshop platform is backed by founding shareholders
Anthony Eisen and Nick Molnar, co-founders of Afterpay, and a list
of powerful investors, including Matrix Partners, Sound Ventures
(venture-capital firm co-founded by Ashton
Kutcher and Guy Oseary), Mantis VC (an early-stage venture
fund in partnership with The Chainsmokers) and more. In the coming
months, Reshop will also introduce additional men's and women's
fashion labels to its growing network of partner merchants,
solidifying the platform's popularity among key lifestyle
brands.
"In building Afterpay we quickly recognized that financial
confidence is instilled when consumers have more control and
flexibility over their funds. In a world where money moves
instantaneously, there's an untapped opportunity that lies within
the refund category. Reshop is going to bring innovation to an
industry that is ripe for disruption, which will benefit both sides
of the shopping ecosystem," said Anthony
Eisen, Chairman of the Board and Investor.
About Reshop
Launched in 2024, Reshop is a technology
company on a mission to make refunds more advantageous and
expedient for shoppers and merchants. By giving shoppers immediate
control over their money, Reshop helps increase customer
satisfaction and recapture sales for merchants. For more
information, visit Reshop.com.
About Alo Yoga
Alo Yoga (Alo) is a Los Angeles-based premium lifestyle brand
specializing in luxury activewear with a mission to spread mindful
movement, inspire wellness and create community. Since launching in
2007, Alo has become a global leader in activewear design and its
franchised fabrics. An acronym for Air, Land, and Ocean, Alo has a
studio-to-street mentality that transcends fashion and goes beyond
the mat. Alo is available online at www.aloyoga.com and Alo
Sanctuaries worldwide.
About Steve
Madden
Steve Madden
designs, sources and markets fashion-forward footwear, accessories
and apparel. In addition to marketing products under its own brands
including Steve Madden®,
Dolce Vita®, Betsey
Johnson®, Blondo®, and
GREATS®, Steve Madden
licenses footwear, handbags and certain accessories for the Anne
Klein® brand. Steve
Madden also designs and sources products under private label
brand names for various retailers. Steve
Madden's wholesale distribution includes department stores,
mass merchants, off-price retailers, shoe chains, online retailers,
national chains, specialty retailers and independent stores.
Steve Madden also directly operates
brick-and-mortar retail stores and e-commerce websites.
Steve Madden also licenses certain
of its brands to third parties for the marketing and sale of
certain products in the apparel, accessory and home categories. For
local store information and the latest sandals, fashion sneakers,
dress shoes, boots, booties, and more, please visit
www.stevemadden.com, www.dolcevita.com and our other branded
websites.
About Narvar
Narvar pioneered how brands engage with
consumers beyond the "buy" button through branded order tracking,
delivery notifications, returns, and exchanges. Today, Narvar's
comprehensive Post-Purchase Platform empowers 1,400+ of the world's
most admired brands, including Sephora, Levi's, Sonos, Warby Parker, LVMH and L'Oréal, to deliver
transparency, build trust, and grow customer lifetime value.
Recognized by Fast Company multiple times as one of the most
innovative companies, Narvar simplifies the everyday lives of
consumers. For more information, visit Narvar.com.
Press Contact:
darian@derris.com
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SOURCE Reshop