By Anthony Ha
Nate Faust has spent years in the e-commerce business — he was a vice president at Quidsi (which ran Diapers.com and Soap.com), co-founder and COO at Jet (acquired by Walmart for $3.3 billion) and then a vice president at Walmart.
Over time, he said it slowly dawned on him that it’s “crazy” that 25 years after the industry started, it’s still relying on “single-use, one-way packaging.” That’s annoying for consumers to deal with and has a real environmental impact, but Faust said, “If any single retailer were to try to tackle this problem right now on their own, they would run up into a huge cost increase to pay for this more expensive packaging and this two-way shipping.”
So he’s looking to change that with his new startup Olive, which consolidates a shopper’s purchases into a single weekly delivery in a reusable package.
Olive works with hundreds of different apparel brands and retailers, including Adidas, Anthropologie, Everlane, Hugo Boss, Outdoor Voices and Saks Fifth Avenue. After consumers sign up, they can install the Olive iOS app and/or Chrome browser extension, then Faust said, “You shop on the directly on the retailer and brand sites you normally would, and Olive assists you …read more
Source: Tech Crunch