Econocom enters the reconditioning market
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Access the reconditioned market. That is the objective that Econocom has pursued with the purchase of Sofi Groupe, whose lines of business include the sale of refurbished telephones in its own factory. The firm also has the SMAAART smartphone brand, launched in 2017.
The commitment to this market is clear, since more and more consumers are fleeing from the purchase of a new device to acquire a refurbished one that complies with all the guarantees and at much lower prices. In fact, it is a market that in 2021 grew by just over 15% compared to that of new smartphones, which grew by 4%. In addition, this market has the advantage that it is committed to a model that fights against waste and favors the circular economy.
With this move, Econocom intends to respond to market growth and expand its position throughout the life cycle of fixed and mobile IT equipment. SOFI Groupe’s industrial tool and technical expertise will provide TMF with the necessary means to internalize and significantly increase the volumes of refurbished equipment, thus meeting the growing demand from public and private organizations for this type of equipment.
With the purchase of SOFI Groupe, Econocom enters fully into the refurbished market and expands its position throughout the life cycle of mobile and fixed equipment
With more than 200,000 assets processed annually by Econocom in France, SOFI Groupe will be able to significantly accelerate the development of its SMAAART brand. The Montpellier-based company will also benefit from financial support from Econocom, which has an ambitious growth plan for refurbishment activities across Europe.
Samira Draoua, CEO of TMF, explains: “We are very pleased to welcome SOFI Groupe and all its employees to Econocom. The financing activity of our group, led by the TMF entity, is a pioneer in the development of offers with a positive environmental impact. This operation aims to strengthen this leadership by equipping TMF with an industrial tool of excellence and a unique know-how ‘made in France’ to reinforce the value of our responsible offers on a European scale”.
Jean-Christophe Estoudre, Chairman and Co-Founder of SOFI Groupe, and Marlène Taurines, CEO and Co-Founder, state: “We are proud that SOFI Groupe joins Econocom, a group with which we share values in terms of social and environmental responsibility. This operation marks a new stage in the development of our company: the support provided by Econocom, an important European group specialized in digital transformation, will allow us to change scale in the coming years”.
