Australia Post acquires stake in startup Shiperoo
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The news: Australia Post has acquired a 25% stake in fulfilment and returns management startup Shiperoo as part of a strategic agreement. The partnership aims to streamline online shopping returns processes and boost sustainability initiatives in Australian retail.
The numbers: Australian consumers made online purchases worth $63.6 billion in 2023, with fashion and apparel accounting for $9.6 billion. The average return rate across all retail is 17%, rising to 30% for fashion/apparel online purchases.
Shiperoo has invested $30 million in AI-powered software and automation technology for its operations.
The context: Shiperoo, founded by supply chain technology entrepreneurs Nishan Wijemanne and Rizan Mawzoon, focuses on solving retail's returns management challenges through automated multi-channel fulfilment facilities powered by robotic technology and AI.
The company's board includes: Paul Greenberg, chairman and founder of NORA; Nishan Wijemanne, chief executive officer at Shiperoo; John King, former chief executive officer of Myer; and Gary Starr, executive general manager, parcel, post and ecommerce services at Australia Post. Online retail entrepreneurs Gabby Leibovich and Hezi Leibovich serve as strategic advisors for recommerce innovation.
What they said: "Australia Post has decided to invest in Shiperoo as part of our focus on eCommerce services for Australian retailers and customers as competition grows," said Gary Starr, executive general manager, parcel, post and eCommerce services at Australia Post. "We recognise the importance of supporting state-of-the-art, contemporary fulfilment services to meet the changing needs of customers."
The source: Shiperoo media release
