Olive Launching in 2021, it aims to eliminate waste from online shopping by allowing consumers to order from multiple websites and receive products in one reusable package.
Today, the company has relaunched itself in a business-to-business space, partnering with apparel retailers to create a circular economy that delivers apparel and accessories in waste-free, reusable packaging that simplifies shipping.
The fashion industry is highly wasteful, contributing 13 million tons of textiles to landfill annually, so an olive branch that starts with apparel is ideal. From thredUp to Vinted to Archive, it’s an area where a few venture-backed companies are attacking.
Olive co-founder Nate Faust, who previously co-founded Jet.com and sold the company to Walmart in 2016, told TechCrunch that he sees where consumer behavior is changing: a “buy, buy, clean” behavior where many people shop, overflow their closets, and then get rid of clothes so they can buy more. He wanted the company to move in one direction to provide a new solution.
“We want it to be a ‘buy one, sell one’ feature that makes it easy and quick to get items to the secondary market while the items still have more usable life,” he added.
Interestingly, Faust says a B2B approach is what Olive’s product partners are asking for when the company launches its business-to-consumer service in 2021. By then, bulk shipments will be more difficult and transport costs for retailers will double. Added.
However, the company has bolstered its resale side by acquiring Linda’s, one of eBay’s biggest sellers. Now, shoppers can drop off gently used items in Olive’s reusable packaging for Linda’s items to sell on eBay. Most items sell within 30 days, and the customer and Olive split the proceeds of the sale.
In the new model, according to the company, customers place an order with the brand name “Olive waste free delivery” at checkout. The Olive brand partners with Olive to package, ship and deliver its customers’ orders in Olive’s reusable packaging.
If the customer wants to return the item, he takes the olive and returns it to the retailer. If you want to transport them, you will put the items in the same packaging, the items are sold by Linda Goods.
The company is now working with 200 brands and is looking to expand that as well as other items that can have many uses, such as electronics and some furniture.
“This is a unique value proposition for brands because we can offer their customers this more sustainable and superior delivery experience, but at no additional cost,” Fast added. “We match their supply and recover costs from existing suppliers and never pay to take empty packaging.”
