Miami-based ReturnPro, which helps brands and retailers manage their returns, said today that it is acquiring iF Returns, a tech company based in Madrid that has been handling returns for more than 200 brands across Europe.
The acquisition puts ReturnPro in a position of international growth, aided by iF Returns’ technology that converts 30-40 percent of what would have been refunds into exchanges and new purchases for global brands like Desigual, Miroglio Group and Champion.
iF Returns co-founders Galo De Reyna, Marcello Valerio, and Paul Obando will continue to lead the business, working with Jelle Schoenmaker, CEO International at ReturnPro, who will oversee ReturnPro’s international growth.
Return Pro said this acquisition also strengthens its existing U.S. offering by adding iF Returns’ front-end returns and exchange technology to ReturnPro’s end-to-end returns, reverse supply chain and recommerce capabilities.
This synergy also comes at a time when almost two-thirds of U.S. shoppers have either stopped shopping with a retailer or abandoned a purchase because of its return policy, according to Loop, which recently commissioned a survey of 1,000 consumers and 200 retail decision-makers.
“Our priority is continuing to deliver more value for the retail and marketplace partners we serve today,” said Sender Shamiss, co-founder and CEO of ReturnPro. “iF gives us proven technology that we can bring to our existing U.S. customers, strengthening the returns ecosystem and third-party marketplace capabilities we already provide. At the same time, it gives us an established platform for international growth under Jelle’s leadership.”
“iF Returns gives us a strong foundation in Europe, with proven technology, deep fashion expertise and relationships with more than 200 brands,” said Jelle Schoenmaker, CEO international at ReturnPro. “Our opportunity is to grow that business internationally while also bringing iF’s technology and expertise into the broader ReturnPro ecosystem for the benefit of our existing customers.”
ReturnPro plans to make these capabilities available to existing customers, including sellers across third-party marketplaces such as Walmart Marketplace, while combining them with its marketplace management expertise to help retailers and sellers retain more revenue and maximize recovery from returned products.
The acquisition also establishes a foundation for international growth under Schoenmaker’s leadership. ReturnPro will build on iF Returns’established European presence and fashion expertise while continuing to expand the technology, operations and marketplace capabilities it provides to its existing U.S. customers. ReturnPro currently processes more than 45 million units annually and has recovered more than $5 billion for retail partners.
“iF Returns has spent years building technology purpose-built for the complexity of enterprise-scale, omnichannel returns,” said Galo De Reyna, co-founder of iF Returns. “Joining ReturnPro gives us the opportunity to bring those capabilities to more retailers and brands while expanding what we can deliver to our existing customers.”
