The French startup specialising in the online sale of professionally refurbished phones, computers, gaming consoles and accessories says growth in the US has accelerated. — Image by Freepik
LONDON: US sales of French startup Back Market, which sells refurbished tech products, have surged in response to President Donald Trump's tariffs, as more consumers turn to devices already in the country, its CEO told AFP on June 3.
Since returning to the presidency in January, Trump has imposed sweeping tariffs on allies and adversaries alike in moves that have rocked the world trade order and roiled financial markets.
But the French startup specialising in the online sale of professionally refurbished phones, computers, gaming consoles and accessories says growth in the United States has accelerated.
When tariffs were announced, "there was no mechanical impact on new product prices but there was fear and an immediate reaction in demand", said Thibaud Hug de Larauze, Back Market's CEO and co-founder.
"We saw our growth triple the following week" and nearly two months later, "it's still stronger than before", Larauze said during an interview at the South by Southwest (SXSW) festival in London.
Founded in 2014, the startup has become one of the flagships of French tech, operating in 17 countries and valued in January 2022 at approximately €5.1bil (RM24.69bil).
Back Market achieved profitability in Europe last year and hopes to generate global profits in 2026.
Its revenues grew by 45% year-on-year in 2023, reaching €320mil (RM1.54bil).
In the United States, its biggest market outside Europe – with France, Germany, the United Kingdom and Spain leading the way – profitability is close, Larauze said.
With tariffs, Trump created a "huge incentive for Americans to consume circularly and locally", Larauze said, noting that the amount of carbon dioxide (CO2) produced in the fabrication of tech products is twice as much as that of commercial aviation.
If US tariff policy "can have positive effects on the environment and American purchasing power, obviously, we're thrilled to meet this demand". – AFP
