With today’s changing times it won’t be wrong to say that mobile phones are the most important electronic device for people across the economic sections. Perhaps this is the reason that new mobile phones are launched every week by various established and new brands. As a customer, we tend to get attracted by new phones and never think that our old phones will end up in landfills and increase e-waste. Gurgaon based startup ‘Grest’ was conceptualized to address environmental issues and mitigate e-waste. Shrey Sardana, Co-founder and CEO, who aims to raise awareness about e-waste and encourages consumers to consider sustainability when purchasing and using electronic devices. He believes that the shift in consumer behavior can lead to more environmentally conscious choices, fostering growth in the refurbished electronics market. We had a candid chat with Shrey to know how recommerce platform like Grest can contribute to sustainability.
What is Grest? How did you conceptualize the platform?
Grest is a forward-thinking platform focused on giving new life to smartphones by refurbishing them, with a core emphasis on sustainability. The idea took root in 2018 when two school friends of 22 years, and now co-founders—Nitin Goyal and I—both with significant experience in corporate leadership roles, identified a growing need for accessible, high-quality refurbished devices. We were keenly aware of the gap in the Indian market, where premium smartphones remained out of reach for many. This realization sparked the creation of Grest, where we saw an opportunity not only to provide affordable solutions but also to contribute to a circular economy that combats the rising issue of e-waste. With the inclusion of industry veteran Sanjeev Aggarwal as CTO in 2023, we now operate as a tech-enabled, full-stack recommerce platform, catering to the entire lifecycle—from pickup to refurbishment and reselling of premium devices.
How do you think that recommerce can address the e-waste problem?
With millions of old smartphones still sitting unused in people’s drawers, recommerce provides an excellent solution to reduce that clutter. Organized recommerce, like Grest, offers customers a financial incentive to exchange their old devices for new ones, with no concerns about data or privacy since the devices are fully wiped by trusted companies like ours. This not only helps declutter but also cuts down on e-waste, while boosting new device sales. After refurbishment, the devices go to new users, fulfilling their tech aspirations and helping bridge the digital divide.
Recommerce is a win-win for everyone. It lowers the total cost of ownership for customers (through exchanges), increases new device sales for brands, reduces clutter and e-waste, and provides affordable tech to end users. It plays a key role in reducing e-waste by encouraging the reuse of technology and extending the life of devices that might otherwise end up in landfills.
At Grest, our mission is to break the “use and discard” cycle by offering carefully refurbished smartphones, reducing the environmental impact. Our approach to recommerce makes sustainability both affordable and accessible to everyday consumers.
How do you differentiate Grest from its peers?
With over six years of on-ground operations, our strong control over the supply chain, combined with a unique blend of technology, processes, and a customer-focused approach, makes us a leading player in this category. On the supply side, we have secured extensive and some exclusive partnerships with organized retail chains and general trade retailers, ensuring a steady supply of devices.
Our core strength lies in the depth of our refurbishment process at our state-of-the-art repair facility, where we ensure that each device is restored to near-new condition. It’s not just about making phones functional but also delivering the premium experience that customers expect. With strong in-house capabilities to refurbish phones in any condition and rigorous quality checks, we consistently deliver exceptional value.
Additionally, our integrated B2B retail app and in-house pricing algorithm further streamline our operations, setting us apart from the competition. With distribution in 22 states and a strong online presence, we are one of the few fully integrated recommerce companies in India.
Tell us about your product range and the USP in terms of refurbishing process and value addition?
At Grest, we specialize in providing premium refurbished smartphones, primarily Apple devices. Our refurbishment process is fully structured, supported by trained manpower, and each device undergoes over 50 quality checks. We have custom-built machines to improve the quality of refurbishment, and we implement a strict Quality Management System (QMS) to ensure top-notch standards for every device.
To enhance our technicians’ skills, we’ve developed an in-house training module. Our facility is ESD-compliant and has the capacity to process up to 20,000 devices per month. We classify phones into different grades based on their condition, offering a range of pricing options to meet various customer needs.
Additionally, we back our products with warranties, providing peace of mind and ensuring that our refurbished devices are as reliable and appealing as new ones. All purchases come with a proper invoice, something often lacking in unorganized channels.
How has the market responded to Grest?
The response from the market has been overwhelmingly positive. Since launching our brand in, we’ve seen a significant uptick in both online and offline sales. Our offline presence spans 22 states in India, and we recently established our online presence, focusing primarily on Apple products. Customers appreciate the affordability and quality we provide, which has built trust and loyalty, particularly among those looking for premium devices at lower costs. We’ve sold or refurbished thousands of smartphones and laptops, and the growing demand signals that consumers are increasingly recognizing the value of refurbished products. We have recently forayed into premium Laptops as well and have seen exponential demand.
Who is your target consumer? How do you see the future of refurbished mobile phones and laptops in India?
Along with our retailers in Tier-2 and 3 Cities, our end customer base is diverse, ranging from college students purchasing their first smartphone to corporate professionals and CXOs upgrading their devices. There’s also a growing segment of environmentally conscious consumers who prioritize sustainability. Parents giving their first phone to children often consider Grest as a go to brand with so many options and flexibility in pricing. Looking ahead, the refurbished mobile phone and laptop market in India is poised for substantial growth. With increasing digital adoption and a rising demand for high-quality yet affordable technology, we see a future where refurbished devices become a mainstream choice, supported by strong infrastructure and organized players like Grest.
How has the growth journey been for the brand in terms of market expansion and revenue? Have you turned profitable?
Our growth journey has been incredibly fulfilling. From our humble beginnings in a small refurbishment facility to expanding our reach across 22 states and launching a robust online presence, we’ve come a long way. With our first round of funding, we have scaled 5X and are operationally profitable. With this we have given a lot of confidence to our existing investors also. With the increasing demand and our ongoing efforts to expand, we’re on track to grow exponentially. While profitability is always a key focus, we’re equally invested in scaling our business and ensuring sustainability, which will drive long-term profitability.
What is your vision for the brand?
Our vision is to redefine tech consumption by promoting sustainability and affordability through recommerce. We aim to be a leader in the refurbished smartphone market, not just in India but globally. By leveraging our deep expertise in repair and refurbishment and continuing to innovate our processes, we aspire to build a world where access to premium technology does not come at the expense of the environment. Our goal is to achieve ₹1,000 crores in revenue within the next five years and to play a key role in fostering a circular economy through technological innovations and sustainability.
