Refund platform Reshop has launched with a partner roster that includes luxury lifestyle brand Alo Yoga, Steve Madden, and Orveon’s premium cosmetics collective, among others. Consumers traditionally have to wait days to receive their money back after filing a return. Reshop intends to provide immediate repayments, freeing up cash that would otherwise sit idle and allowing customers to use their refund money immediately.
To get there, Reshop has teamed with Narvar to integrate into existing platforms as well as the return operations of new and existing Narvar merchants, which have over 1,400 recognized partners representing 90% of adult consumers in the United States.
Reshop, supported by original investors Anthony Eisen and Nick Molnar, the co-founders of Afterpay, along with Matrix Partners, Sound Ventures (co-founded by Ashton Kutcher and Guy Oseary), and Mantis VC (associated with The Chainsmokers), is ready for significant growth. “We see an opportunity to disrupt a traditional process and deliver unique value to both merchants and consumers,” said Reshop’s chief commercial officer, Katie Pridham.
“Reshop allows customers to receive quick refunds, giving them more flexibility, control, and confidence to shop again right away. For businesses, Reshop can help turn what was previously a loss into a chance to recoup customers and generate additional income.”
Reshop, supported by original investors Anthony Eisen and Nick Molnar, the co-founders of Afterpay, along with Matrix Partners, Sound Ventures (co-founded by Ashton Kutcher and Guy Oseary), and Mantis VC (associated with The Chainsmokers), is ready for significant growth.
In the following months, the site will add new men’s and women’s fashion names to its network of partner merchants.
“We’re thrilled to partner with Reshop as we continue to look for new ways to improve our customers’ shopping experiences,” said Josh Krepon, head of US DTC and worldwide digital at Steven Madden.
“Through this partnership, we will offer shoppers greater flexibility by receiving refunds immediately, ultimately improving the overall post-purchase experience for our customers.”
