Refurbished
20
Jan
2025
3
min read

Refurbished phones as good as new: How Grest is changing the game

Grest, an Indian start-up, is working to change perceptions around refurbished smartphones and laptops by offering high-quality, affordable devices in India. Founded in 2021 by Shrey Sardana and Nitin Goyal, Grest aims to make premium electronics accessible to millennials and Gen Z consumers, according to an interview in YourStory. Refurbished smartphones often carry the stigma of being lower in quality compared to new devices. Grest’s co-founder and CEO, Shrey Sardana, acknowledges this challenge: “We aim to change that perception by delivering devices that perform like new, backed by warranties and quality assurance.” Recent trends, however, indicate a growing acceptance of refurbished devices. For instance, demand for refurbished Apple iPhones in India rose by 38% in the first half of 2024, with the iPhone 11 leading the sales, according to Cashify.

From corporate careers to entrepreneurship

Before founding Grest, Sardana and Goyal spent over a decade in multinational corporations. Sardana gained expertise in electronics repair in the United States, while Goyal held leadership roles at telecom giants like Nokia and Ericsson. Their entrepreneurial journey began with Radical Aftermarket Services, a B2B repair-focused venture, before pivoting to consumer-focused Grest in 2021. “This venture is the culmination of our childhood dream to build something impactful together,” says Sardana.

How Grest operates

Grest’s operations encompass both B2B and B2C markets. It sources used devices through a network of suppliers, including individual sellers, unorganised players, and major retailers such as Apple outlets and Reliance Digital. The startup’s refurbishment facility in Gurgaon employs over 45 engineers and uses a 50-point inspection process to restore devices to near-original standards. The refurbished products come with a six-month warranty, a seven-day return policy, and free nationwide shipping.

Targeting affordability and quality

While the startup’s ecommerce platform accounts for 15% of revenue, the majority comes from offline sales through distributors. Laptops, which represent 10% of revenue, are also refurbished to meet the needs of startups seeking cost-effective devices for employees.

Challenges and opportunities

Changing consumer perceptions remains a key challenge for Grest. “Educating customers about the quality and reliability of refurbished devices while maintaining affordability and sustainability is a constant balancing act,” Sardana notes. The company has tackled this by providing detailed insights into its restoration process and emphasizing transparency.

Despite the hurdles, Grest is on a growth trajectory. The company generated €1.7 million in revenue in FY24 and is targeting €4.5 million this financial year, with a monthly revenue goal of €400,000. With India being the world’s largest population and the third-largest smartphone market—after China and the USA—Grest sees significant potential for growth in the years to come.

Via: YourStory

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