Alo Yoga and Steve Madden partner with Reshop on faster refund service

Newly launched refunding platform Reshop has announced lifestyle brand Alo Yoga and footwear label Steve Madden among its first partners, each one set to implement the company’s returns process to enhance customer experience.

Reshop’s concept revolves around speedier refunding, removing the wait time for shoppers to get their money back by freeing up funds and therefore allowing consumers to access their refund immediately.

The company has been backed by founding shareholders Anthony Eisen and Nick Molnar, co-founders of ‘buy now, pay later’ provider Afterpay, as well as other notable investing firms such as Sound Ventures and Mantis VC.

In a release, Eisen, who is also the chairman of Reshop, highlighted the need for excellent customer experience in the current competitive environment, adding: “How merchants handle returns and refunds is a key component to success.

“Giving customers the option to get an instant refund - beyond store credit - is a win-win strategy for customers and merchants.”

In his own statement, president of US DTC and global digital at Steve Madden, Josh Krepon, said: "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.”

Reshop said it plans to introduce additional men’s and women’s fashion labels to its network of pattern merchants in the coming months.