Largo bets on green electronics

In what context has your company’s activity evolved since 2022?

The context is favorable since it serves the circular economy and reuse. The pandemic has shed light on our relationship to consumption and overconsumption. Moreover, the weight of refurbished in 2021 has risen to 17% of market share (VS 14% in 2020) and 1 in 6 phones sold in France is refurbished. Largo is surfing on this trend and benefiting from a collective ecological awareness, especially among the younger generations. Finally, the anti-waste law obliges public institutions to include in their tenders, 20% of reconditioned electronic products.

What are your goals with going public in 2021?

The virtues of the grant is to raise larger amounts to support the project over the long term. In 2021, we raised 24 million euros. The whole point is also transparency and our guarantee of quality as a French player in this market in full structuring.

How is the company positioned in its market?

Since 2016, the date of the launch of Largo, the company has experienced very strong growth since the turnover has increased from 1.2 million euros to 6.5 million in 2017, more than 10 million in 2020 and 17, 6 million in 2021. And we aim 30 million euros in turnover at the end of 2022. Five players share the market, but Largo is atypical because the company relies on several distribution channels: retail, digital, BtoB (the Largo Business offer is 9% of turnover in 2020) and operators in telephony and affinity insurers (Pacifica, etc.). In addition, the company undertakes not to immobilize a device for more than 72 hours in the event of a breakdown and an online complaint on https://sav.largo.fr/.

What is your distribution network?

Largo deploys an effective omni-channel strategy around mass distribution in particular with 2000 points of sale (64% of turnover in 2021; target of 48% in 2022 for a better balance between channels). The brand is distributed both physically (at Leclerc, Conforama, Système U, Darty…) but also on marketplaces (BackMarket, Amazon…) and via its website Largo.fr, launched in September 2021. Today, direct sales represent 25% of Largo’s turnover and relies mainly on short circuits.

What is your e-commerce strategy?

It is very recent since the IPO. All the fundamentals related to UX are being studied to facilitate the choice of products (purchasing guides, comparators, etc.). We create content around a product catalog provided in the digital universe and we work on our natural referencing before the marketing investment plan in 2023.

What are your plans for 2022?

Develop short circuit channels (buy in Europe and France and less in the United States) and increase our production to double the activity (recondition more to supply the distribution channels). Largo has started automating part of its production by investing in 6 new generation robots. The goal: significantly increase its reconditioning capacity (to reach 25,000 refurbished products per month by the end of 2022, compared to 7,000 per month a few months ago). Finally, individuals will be able to sell their devices on the Largo site from the start of the school year. In 2025, we are aiming for 70 million euros in turnover

Key figures on Largo:

17.6 million euros in turnover in 2021, i.e. + 71% over one year

220,000 refurbished smartphones since its creation in 2016

61 employees

More than 2,000 distribution points

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Largo bets on green electronics


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