India’s refurbished smartphone market is on an impressive growth trajectory, driven by rising aspirations for premium gadgets at affordable prices. Addressing this demand, GREST, founded in 2021 by childhood friends Nitin Goyal and Shrey Sardana, is carving a niche in the recommerce industry. The Gurugram-based platform specializes in selling high-quality refurbished and used Apple iPhones, MacBooks, and laptops, catering to both B2B and B2C customers.
A new journey
With backgrounds in telecommunications and electronics repair, the founders identified the potential of recommerce as early as 2016, when trade-in programs gained traction. Initially operating as a repair service provider under Radical Aftermarket Services, the me decided to launch GREST during the pandemic to meet the rising demand for affordable, refurbished gadgets.
Quality and innovation at the core
GREST has a transparent grading system, 50+ quality checks, and, I needed will do repairs. The platform’s beta-tested a display repair machine, designed in-house, that significantly reduces costs, enhancing accessibility. Additionally, GREST offers a six-month warranty, seven-day return policy, and free shipping which is not common in India’s secondary market.
Strategic expansion plans
Currently operating across 26 states and five Union Territories, GREST is scaling its operations. The company plans to open four company-operated stores in Delhi by mid-2025, with a long-term goal of 400 stores nationwide and internationally.
Positioning against competition
While Cashify remains a dominant rival, GREST is trying to differentiate itself with competitive pricing—5-20% lower—and its lower cost in-house refurbishment capabilities. GREST’s founders anticipate doubling 2025 revenues. The refurbished smartphone market in India is set to grow from US$ 5 billion to US $ 10 billion by 2030, GREST’s strategic focus on pricing, quality, and scale positions it as a potential strong contender in the evolving landscape.
Via: Inc42.com
Market
Trade-in
Repair
