Optoro Is Building A Billion-Dollar Business Helping Companies Cope With A Glut Of Rejected Stuff
In Optoro’s 300,000-square-foot warehouse outside Nashville on a stiflingly hot afternoon in late August, Susan Cohan scans the bar code on a cardboard box holding 97 pink crocheted bikinis. The tops were priced at $27.99 and the bottoms at $19.99 at one of America’s best-known big-box retailers. But the suits had failed to sell. Optoro’s software tells Cohan to route the box to Bulq.com, a website run by Optoro that sells in bulk to mom-and-pop dollar outlets and online discount stores. The bikinis will fetch 20% of retail, says Tobin Moore, Optoro’s 35-year-old cofounder and CEO. “People aren’t going to be buying bikinis in September,” he notes.