A major leadership change is coming at Back Market. Thibaud Hug de Larauze, the long-serving head of the online refurbished electronics marketplace, will step down and pass the baton to Clément Petit, the company’s current Chief Financial Officer. The transition will take effect on September 1. From that date, however, Thibaud Hug de Larauze will remain Executive Chairman of the company.
Having previously worked at Veepee, Clément Petit joined Back Market in November 2020. As CFO, he was tasked with steering the company toward profitability. After achieving profitability in Europe in 2024, Back Market reached profitability at the global level in 2025.
“We Need an Organization Capable of Moving Faster and Aiming Higher”
Last year, the French unicorn, which has been valued at €5.1 billion since 2022, generated annual revenue of €440 million, although it did not disclose its profit figures. Its total transaction volume reached €3 billion for the year, representing 32% growth.
“As Back Market continues to grow in both scale and ambition, we need an organization capable of moving faster and aiming higher,” said Thibaud Hug de Larauze, who has led the company since its founding in 2014. He will have remained at the helm of Back Market for nearly as long as Jérémy Clédat led Welcome to the Jungle. Clédat also decided to step down this summer.
Having reached this symbolic milestone, Back Market is entering a new phase of growth aimed at driving a major global shift in consumer purchasing habits: “Ensuring that the majority of electronic devices sold worldwide are refurbished rather than new.”
This highly ambitious challenge will now fall to Clément Petit.
“Back Market’s strength has always been collective: our team, our mission, and our shared conviction that we are rewriting the rules of a global industry. That is the responsibility I am taking on today, and I embrace it fully. Together with Thibaud and the entire team, our priorities are clear: to continue growing our marketplace while building the next stage of our business model, making refurbished electronics the global standard,” said Back Market’s future CEO.
Opening Stores in France and the United States
Today, Back Market operates in 17 countries and employs 700 people across its seven offices in Paris, Bordeaux, New York, Berlin, Barcelona, London, and Tokyo.
When the company celebrated its 10th anniversary two years ago, it projected that 5 billion consumers would choose refurbished products by 2034. If that milestone is achieved, the French unicorn estimates it could prevent the emission of 460 million metric tons of CO₂—equivalent to removing 110 million cars from the road for one year—and avoid the generation of 2.9 billion kilograms of electronic waste.
To broaden its customer base and further raise awareness of refurbished products, Back Market announced last September its intention to expand into physical retail in both France and the United States. By opening its first stores, the company aims to attract consumers who prefer shopping in person rather than purchasing online.
The opportunity is particularly significant in the U.S. market, where 70% of purchases are still made in physical stores. In addition to opening retail locations, the company also announced the launch of a repair service, allowing it to position itself across every stage of the refurbished electronics value chain.
