|
-- Return.com becomes the first full-service returns portal and returns center with
nearly 3,400 nationwide walk-in locations --
For Immediate Release
ATLANTA and SAN DIEGO (May 17, 2000) - Innotrac Corporation
(NASDAQ:INOC) and Mail Boxes Etc. (MBE) today announced an equity investment
in a new e-commerce venture, Return.com, Inc., to process product returns for online and
catalog retailers. The site www.return.com will be live today and be fully integrated with enhanced
features by year’s end.
Return.com is the first full-service returns portal supported by the convenience of
almost 3,400 physical locations. Customers returning merchandise purchased online, or by
catalog or phone, can simply take the item to any participating MBE location in the U.S. for
packaging and shipping. Return.com’s InstaCredit™service, available later this year, will
allow many customers to receive authorization for an immediate merchandise credit on their
credit card-rather than waiting weeks for the return to be processed by the merchant.
"Return.com is an independent company that leverages the core competencies of Innotrac in
fulfillment, returns, warehouse distribution, and call center operations, and combines them with
the powerful MBE nationwide network," said Scott Dorfman, chairman, president and CEO of
Innotrac. "This is an exciting opportunity for us and a great strategic fit with our
current e-commerce initiatives. We feel the investment we are making in Return.com will be
well worth it, given the long-term potential."
"Return.com is a new way for merchants to enhance customer service by focusing the core
competencies of two strong companies on returns(the ‘Achilles heel’ of retailing
and e-tailing," said James Amos, MBE president and CEO. "MBE’s unrivaled
brick(and(mortar presence, combined with our unique technology solution, makes MBE the perfect
choice for this new enterprise. Return.com provides the missing link between the virtual and
physical worlds of e-commerce."
Return.com operates a Web portal that will leverage MBE’s locations and Innotrac’s
call centers and warehouse operations. Information from all these entities will be
entered into Return.com’s database, enabling quick, accurate and informative customer
service. When buyers wish to return merchandise, they simply click on the Return.com
icon on the seller’s merchant’s Web site, go to thedirectly to the Return.com portal
or call a toll-free number. Return.com will then cross-check and verify the
information, direct the customer to a MBE location where an InstaCredit will be
authorized and the returned merchandise will be dropped off for shipping. The
merchant can then have the return sent to either its warehouse or to the manufacturer,
or sold through the Return.com disposition network.
"Returning merchandise is a vexing problem for consumers and merchants involving
inconsistencies and inconvenience. The cumbersome process is widely recognized as a major
barrier for e-commerce and non-storefront purchases," said Joel Holtzman,
Innotrac’s vice president of Internet business. "Return.com serves as a single focal
point for merchants and consumers to bring simplicity and convenience to the entire
process, thereby saving time and money."
Return.com retained iXL Enterprises in Atlanta to build the portal Web site and provide
logistics input from their Supply Chain Practice Management Group. The Return.com company
is based in in Atlanta, Georgia.
Innotrac and MBE plan to promote Return.com on their Web sites. In addition, Return.com’s
E-commerce merchant customers will be encouraged to promote Return.com on their Web
sites, catalogs, and correspondence accompanying each order shipped. Discounted shipping
rates are available for Return.com customers at participating MBE centers nationwide.
"We want the consumer to view the Return.com logo as a symbol of high trust and high
touch in a high tech world," said Amos. "We intend to build brand awareness of
Return.com among consumers as the fast, convenient way to process returns."
About Innotrac
Innotrac is a full-service provider of customized, technology-based marketing support
and fulfillment services. Innotrac offers outsourced solutions for traditional and
e-commerce product and literature distribution, computerized inventory and database
management, and customer-initiated teleservices. For more information about Innotrac,
visit the Innotrac Web site, www.innotrac.com
About Mail Boxes Etc.
This year marks the twentieth anniversary of Mail Boxes Etc. (MBE), the world’s largest
retail business, communication and postal services franchisor. MBE is a wholly owned
subsidiary of US Office Products Company (NASDAQ: OFIS), with more than 4,100 MBE
locations operating worldwide, and master license agreements in 67 countries around
the world. In the United States, MBE centers are owned and operated by licensed franchisees
of Mail Boxes Etc., USA, Inc. Outside of the United States, MBE centers are owned and
operated by MBE master licensees or their franchisees. MBE maintains a web site at www.mbe.com.
This press release includes "forward-looking statements," within the
meaning of the federal securities laws, that involve uncertainties and risks. These
include statements regarding events or developments that Innotrac and MBE expect or
anticipate will occur in the future, such as statements about the expected future performance
of Return.com and its ability to attract customers successfully. A number of risks and
uncertainties could cause actual results, events, and developments to differ from expectations,
including (1) the ability of Return.com to implement its business plan and deploy its
technology successfully; (2) competition from other established and start-up
ventures; and (3) the ability of Innotrac and MBE to integrate their businesses and
technologies successfully with the business and technology of Return.com. Please refer
to Innotrac's and US Office Products' 1999 Annual Report on Form 10-K,
respectively, and these two companies other filings with the Securities and Exchange
Commission for a complete discussion of other important factors relevant to the businesses
of Innotrac and MBE that could cause actual results to differ materially from those projected
by these forward-looking statements. |
