Trade-in
12
Oct
2024
min read

Alchemy’s success story: revenue grow in 2024 with 60% to € 650.2 million

Alchemy, a Dublin-based electronics refurbishing company, has made headlines with its impressive growth. Founded in 2017 by James Murdock, Gary Noone, and Walter Vicente, the company focuses on repairing, renewing, and reselling consumer electronics such as smartphones, tablets, computers, and smartwatches. This year, it reported a remarkable revenue increase of 60%, reaching € 650.2 million in fiscal year 2024, up from €  405 million the previous year.

The company’s success has been fueled by its strong partnership with Apple, handling trade-in devices across Europe. Alongside the American firm LikeWize, Alchemy is one of Apple’s key partners in Europe, processing devices both online and through physical stores. This collaboration has enabled Alchemy to expand rapidly, with the number of processed devices jumping by 71%, from 1.7 million to 2.4 million in 2024.

Global expansion and impact

Alchemy has established facilities worldwide, including in the U.S., England, Australia, Dubai, Hong Kong, Mexico, South Korea, Taiwan, and Japan. Its facility in Co Kildare, Ireland, remains its largest hub for processing smartphones and laptops in the European market. In January, Alchemy reached a significant milestone by processing its five millionth device, saving over 342,000 tons of CO₂ emissions that would otherwise have been generated by producing new devices. Now, the company reports reaching six million processed devices.

Commitment to sustainability

Over the past seven years, Alchemy’s operations have resulted in a 420,000-ton reduction in CO₂ emissions. James Murdock highlighted the urgency of decarbonizing the electronics sector and the importance of circular practices in combating climate change. He stated: “We are proud to contribute to making our lifestyles more sustainable. Each device we refurbish and resell represents an environmentally conscious choice, moving us closer to a fully circular economy. This milestone shows that consumers and companies alike are committed to reuse and repair rather than disposal.”

Alchemy’s growth and achievements underscore its role as a leader in sustainable technology and circular economy practices, contributing significantly to carbon reduction efforts while offering consumers eco-friendly options.

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