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Goldman Sachs-backed firm triples sales after US tariffs – TheStreet

April 23, 2025 //  by Finnovate

Back Market, is a France-based operator of a global marketplace for refurbished electronics, including laptops and smartphones, aiming to help people do more with what they already have to avoid unnecessary carbon emissions and reduce tech waste. To date, it has sold more than 30 million refurbished devices across 17 markets, avoiding approximately 1.6 million tons of carbon emissions. Over the years, Back Market raised money from high-profile investors such as Goldman Sachs, Aglaé Ventures (the venture arm of Group Arnault), and Eurazeo Growth. The platform is available in 13 European countries, Australia, Japan, South Korea, the UK, and the United States. The company’s CEO Hug De Larauze told that Back Market sales have tripled in a single week amid Trump’s tariff announcement. “Maybe some people rushed into [replacing their smartphones or computers] earlier, because they were afraid it’s going to cost so much more weeks from now,” de Larauze said. According to Hug De Larauze, it is possible that more Americans could start choosing used or refurbished devices if tariffs raise prices. “This is a big opportunity to change the way American people consume this stuff, because the incentive has never been as high to avoid those tariffs,” he says. Dan Ives, Wedbush Securities’ global head of technology research, agrees that prolonged tariffs could result in a significant jump in short-term sales of used and refurbished devices, especially smartphones. However, in the longer run, Ives is skeptical that a typical American consumer would permanently shift to refurbished alternatives. “We believe 80% to 90% of consumers like buying a new smartphone, [and] buying behavior is hard to change,” Ives says. Some analysts estimate that tech conglomerates such as Apple might need to raise their prices by hundreds of dollars per product, depending on the eventual electronics-specific tariffs. If that happens, it will be interesting to see how a typical American consumer would remain faithful to the habit of buying new devices.

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Category: Members, Channels, Innovation Topics

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