Recommerce Group, one of the biggest players on the refurbished smartphones market in Europe, has bought Romanian startup Fenix.eco, which is active in the same niche.

Fenix.eco was launched 14 months ago by three French entrepreneurs: Gregoire Vigroux, Adrien Arnoux and Hector Destailleur.

This transaction will allow Recommerce Group to increase its presence in Eastern Europe, where it targets revenues of EUR 10 million by 2023. The French group is currently operating in 24 countries.

“Our revenues increased by 30% in 2020, and this year they will increase by 40%. We will reach a turnover of EUR 85 million at the end of 2021. To continue this exponential growth in the coming years, we are intensifying our international development,” said Augustin Becquet, CEO of Recommerce Group (opening photo - left).

“Given its demographic importance and developing economy, Eastern Europe is a large market, but one that is not being used to its full potential. By acquiring fenix.eco, we are developing our operations quickly and efficiently in this promising region. Romania is an extraordinary base for Recommerce to consolidate its presence in Eastern Europe, due to the country's Francophonie, cultural proximity to France, favorable business environment and openness to Europe,” he added.

Founded in 2009 in France, Recommerce Group uses patented and innovative technologies to redeem, renovate and sell used devices. Fenix.eco has been using a similar business model in Romania.

“From day one, our ambition was to become the most important player in Eastern Europe in the field of refurbished smartphones. Joining our forces with Recommerce Group is the best strategic move to quickly achieve this goal and remain competitive. This company has an extraordinary experience, being one of the oldest, biggest and most respected players in Europe in the refurbishment segment. Now that we are part of the Recommerce Group, we will benefit from its large-scale supply capacity, its redemption experience, quality devices and competitive prices,” said Grégoire Vigroux, co-founder of fenix.eco (opening photo - right).

The negotiations between fenix.eco and Recommerce started at the end of 2020. The transaction will be legally completed in July.

Grégoire Vigroux will remain on the company's board of directors, while Hector Destailleur and Adrien Arnoux will continue to manage the local operations.

editor@romania-insider.com

(Photo source: the company)