Loop Launches in U.S., Announces Kroger and Walgreens as Founding Retailers

Date : 05/21/2019 @ 5:21PM
Source : Dow Jones News
Stock : Kroger Company (The) (KR)
Quote : 24.36  0.1 (0.41%) @ 10:26PM

Loop Launches in U.S., Announces Kroger and Walgreens as Founding Retailers

Kroger (NYSE:KR)
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   By Stephen Nakrosis 

A new shopping service will allow customers in the Mid-Atlantic region of the U.S. to purchase items for delivery in reusable containers, part of an effort to reduce the amount of packaging used by manufacturers and retailers.

Loop, which is an initiative from TerraCycle, allows customers to place online orders, receive their merchandise in a reusable tote, and return the packaging in the tote, which will be picked up at their home, cleaned and re-used.

Loop on Tuesday said The Kroger Co. (KR) and Walgreens (WBA) are the system's founding retailers.

Loop's pilot program launched in New York, New Jersey, Pennsylvania and Maryland, and in Washington, D.C., it said.

"TerraCycle came together with dozens of major consumer product companies from P&G to Nestle to Unilever, the World Economic Forum Future of Consumption Platform, logistics and transportation company UPS and leading retailers Kroger and Walgreens to create a simple and convenient way to enjoy a wide range of products, customized in brand-specific durable and reusable packaging," said Tom Szaky, founder and chief executive of Loop and TerraCycle.

"Kroger's commitment to embrace innovation on our path to Zero Hunger/Zero Waste aligns perfectly with Loop's mission to create a convenient circular packaging solution for consumers," said Jessica Adelman, Kroger's group vice president of corporate affairs.

"Walgreens is excited about this opportunity to help consumers purchase sustainably packaged products and contribute to a healthier planet," said Lauren Brindley, Walgreens group vice president of beauty and personal care. "Innovative collaborations with partners like Loop are critical to solving the complex issue of reducing single-use plastics."


--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com


(END) Dow Jones Newswires

May 21, 2019 12:06 ET (16:06 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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