Ikea invests in returns management start-up amid push to “become a circular business”

Ikea has invested in returns management start-up Optoro amid plans to “become a circular business by 2030”.

Optoro’s technology, which helps retailers manage and resell returns while reducing waste, will now be rolled out across 10 Ikea distribution centres, 50 retail stores and its customer support centre across the US.

Ikea said it plans to roll out Optoro’s data analytics and machine learning technology across more locations and markets in the future.

“We’re on a mission to become a circular business by 2030, and we need partners like Optoro who can help us achieve our goals,” Ikea’s president and chief sustainability officer Javier Quiñones said.

READ MORE: Ikea ramps up carbon neutral plans

“Optoro’s solution will enable us to eliminate much of the waste created in the reverse supply chain, from minimizing the carbon emissions released in return shipping to finding the best next homes for returned items.”

Optoro co-founder and chief executive Tobin Moore added: “We are thrilled to partner with Ikea Retail, a global leader in designing a more sustainable retail future.

“Ikea shares our mission of looking to innovation and technology to build the circular economy. Through our work together, we will be able to make an even larger impact on reducing waste from returns, while also improving the customer experience to help fuel ecommerce growth.”

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