AlSulaiman Group ("ASG") announced today its latest investment in Cartlow, the leading reverse logistics solution in the Region. The $18M investment will support Cartlow on its journey and enable further expansion in KSA and UAE. Cartlow is a tech-enabled reverse logistics platform combining re-commerce, return management, buyback & trade-In, warranty management, refurbishing, and recycling to unlock the full benefit of an End-to-End Reverse Logistics Solution. The Global Reverse Logistics market was valued at $635 billion in 2020 and is set to grow to hit a $958 billion by 2028. The growth is underpinned by the rise of ecommerce contribution to sales channels and accelerated timelines of tech product launches, increasing the demand on retailers to manage their returns and trade-in programs efficiently. Since Reverse Logistics is considered one of the biggest operational challenges due to its volume, cost, and skill requirements. Cartlow's tech-enabled solution takes the burden from the retailers and provides them with the needed programs to enable them with better retrieval rates and a healthy inventory. Alsulaiman Group is an active in Omni-channel Retail, Services, and Retail Real-estate that is represented by 5 companies serving Saudi Arabia and GCC countries: IKEA Saudi Arabia and Bahrain, Flow Progressive Logistics, Ehteraf Real Estate Development, a regional joint venture with Livspace, in addition to a strategic investment in Salasa e-commerce Fulfillment. The investment in Cartlow will allow ASG to expand its Omni-Channel eco-system by providing new and innovative solutions to major retailers, all powered by Cartlow's technology. ASG has been piloting initiatives such as IKEA buyback program to extend the life of used furniture through secondary markets. "Our investment in Cartlow further highlights our commitment to the Kingdom's Vision 2030 sustainability targets through enhancing the circular economy and reducing waste in value chains" commented Saud AlSulaiman - CEO of ASG. Mohammad Sleiman, Founder, and CEO at Cartlow, stated "The investment will help to take Cartlow to the next level. Our aim is to continue to drive innovative technology within the reverse logistics landscape across the region,". In addition, the recent global shortages in supply chain, combined with rising shipping costs, have contributed to the inflation of consumer items. This further highlights the need to extend the life of electronics through secondary markets. Cartlow's unique re-commerce platform provides consumers and businesses with pre-owned, open-box, and refurbished products at bargain prices, while maintaining trust by providing an assured quality check and a warranty on items sold.
