Back Market, a leader in the refurbished electronics marketplace, has announced a major leadership transition effective September 1, 2026. Co-founder Thibaud Hug de Larauze will become Executive Chairman, passing the CEO role to current Chief Financial Officer, Clément Petit. This strategic move is designed to strengthen the company's governance as it prepares for its next phase of significant global growth.
A Strategic Leadership Evolution
As Executive Chairman, Thibaud Hug de Larauze will focus on the company's long-term vision and the broader transformation of the refurbished electronics sector. Clément Petit, as the new CEO, will oversee daily operations and execute the strategic plan to solidify Back Market's position as a global leader. This clear division of roles is intended to accelerate the company's mission while ensuring robust operational management.
Clément Petit joined Back Market in 2020 from Veepee and has been instrumental in guiding the company toward profitability as its CFO. His promotion reflects a commitment to internal succession and maintaining the company's unique culture and mission. This continuity is seen as crucial for navigating the company's ambitious scaling efforts and reinforcing its market leadership in the coming years.
A Foundation of Financial Strength
This leadership change follows a period of remarkable financial success for the French unicorn, which has been valued at €5.1 billion since 2022. The company achieved global profitability in 2025, a critical milestone that underscores the viability of its business model. This financial stability provides a strong launchpad for future investments in technology, expansion, and marketing under the new leadership.
The company's robust performance is further evidenced by its Gross Merchandise Volume (GMV), which grew by 32% to exceed €3 billion in 2025. This impressive growth in transactions, alongside an annual revenue of €440 million, signals strong consumer trust and a growing preference for refurbished products. It positions Back Market to continue challenging the traditional electronics market dominated by new devices.
Expanding Horizons and Market Presence
The core mission of Back Market remains to make refurbished devices the default consumer choice worldwide, a goal the new leadership structure is designed to advance. According to Hug de Larauze, a more robust organization is needed to "go faster and aim higher." Petit affirmed his commitment to this vision, emphasizing the collective effort required to make the marketplace prosper globally.
To reach a wider audience, the company is expanding into physical retail by opening stores in France and the United States. This omnichannel strategy aims to attract customers who prefer purchasing electronics in person, a significant segment of the market. The move is especially strategic for the US, where a large percentage of consumer electronics sales still happens in physical stores.
Complementing its retail plans, Back Market is also introducing a repair service to create a more comprehensive ecosystem for its customers. This initiative strengthens its position across the entire value chain of refurbished electronics, from sales to after-care. By offering integrated repair solutions, the company aims to build deeper consumer trust and loyalty in the circular economy model.
The leadership transition at Back Market marks a key moment in its evolution from a founder-led disruptor to a mature global enterprise. Building on a foundation of profitability and strong growth, the company is poised to execute its ambitious expansion into new services and retail channels. This new governance structure ensures operational excellence under Clément Petit while preserving the visionary guidance of its founder.