Back Market: Making Refurbished Electronics Mainstream
The Concept
Founded in 2014 by Thibaud Hug de Larauze, Quentin Le Brouster, and Vianney Vaute, Back Market created a trusted marketplace for refurbished electronics, addressing both environmental concerns and consumer needs.
Building Trust in Refurbished
Initial Challenge: Consumers didn't trust refurbished products
Solutions: 1. Strict Quality Standards: Rigorous seller vetting 2. Warranty Program: Minimum 12-month warranty 3. Customer Service: Exceptional support 4. Branding: Made refurbished "cool" 5. Education: Content about environmental impact
Growth Strategy
Phase 1: French Market (2014-2017) - Focus on smartphones - Built seller network - Perfected quality control - Achieved product-market fit
Phase 2: European Expansion (2017-2019) - Launched in Spain, Italy, Belgium - Adapted to local preferences - Expanded product categories - Raised €48M Series B
Phase 3: Global Ambitions (2020-Present) - Entered US market - Added enterprise sales - Raised $335M Series D - Achieved unicorn status
Sustainability as Business Model
Environmental Impact: - 700,000 tons of CO2 saved - 190,000 tons of raw materials preserved - Making circular economy profitable
Business Benefits: - Lower prices for consumers - Higher margins than new products - Growing market demand - Regulatory tailwinds
Key Learnings
1. Mission Matters: Environmental mission attracted talent and investment 2. Quality Obsession: Trust requires consistent quality 3. Market Education: Had to create the market, not just serve it 4. Local Adaptation: Refurbished acceptance varies by country 5. Timing: Caught sustainability wave perfectly