Retail returns platform provider Optoro Inc. has named Amena Ali chief executive officer. Ali succeeds company cofounders Tobin Moore and Adam Vitarello, who “will transition to new roles at Optoro with a focus on strategic growth initiatives and key partnerships,” the company said in a statement. “Moore and Vitarello will continue to serve on the board of directors and in the roles of principal and chief strategy officer.”
Optoro was founded 15 years ago. The company described Ali as having an exceptional track record and was brought on to lead the company’s next phase of growth.
Ali previously served as CEO of Airside Mobile as well as CEO of VividCortex. Additionally, Ali has served in leadership roles at Earth Networks, Softek Storage Solutions (which was acquired by IBM) and Legato Systems (which was acquired by EMC).
Ali said Optoro’s “market-leading solution already serves some of retail’s most iconic brands, and I’m excited to bring it to the broader market. Our returns platform delights consumers, drives revenue and reduces costs, all while eliminating waste. Together with our industry-leading partners, we are driving the future of sustainable retail.”
Moore said Ali is the right person “to lead our team as we enter a new phase of accelerated growth. Her experience rapidly scaling SaaS businesses over the past 20 years, coupled with our leadership team’s deep retail and technology expertise, positions us to successfully serve our quickly expanding client base in 2023 and beyond. Now is the time for us to double down on our leading returns solution to continue delivering winning results for retailers, consumers and the planet.”
Optoro’s client roster includes brands such as American Eagle Outfitters, Best Buy and Ikea. The company offers an “all-in-one returns platform.” Last November, the company revealed that its platform “has processed more than 100 million returns. In October 2022 alone, the company processed 8.63 million units, a 74 percent increase year over year from [third quarter] 2021.”
The company said this milestone “comes on the heels of impressive growth for the company, as retailers and brands look to innovative returns offerings as a competitive advantage that can boost customer loyalty, drive additional revenue, and minimize costs and environmental waste.” Optoro also said it has continued to invest in its self-service returns portal, which “enables retailers to offer an intuitive returns experience with features like easy exchanges, package-less returns drop-offs through its Express Returns program and built-in fraud prevention.”
Optoro noted that its platform “not only helps retailers attract customers and boost revenue but also enables retailers to meet their circularity goals.” With its technology, Optoro said, “returns are processed quickly and intelligently, increasing resale value and minimizing the chance they are sent to landfills.”
Since 2015, Optoro said its retailer customers have kept 95 percent of returns and excess inventory out of landfills, while diverting 14.7 million pounds of waste from landfills and preventing nearly 52 million pounds of carbon emissions.