Redeem partners with Grow Movement to support African entrepreneurs

Redeem, the global provider of recycling and recommerce services for mobile phones, is delighted to announce it is partnering with Grow Movement in order to support the development of African entrepreneurs. 

Grow Movement supports entrepreneurs in Africa by matching them to leading business consultants from around the world, who volunteer their time to provide strategic and operational advice via web conferencing. The non-profit currently operates across Uganda, Rwanda and Malawi and works with over 1,100 volunteer consultants from professional organisations such as PWC and Ernst & Young, as well as business schools that include Stanford Graduate School of Business, London Business School, Chicago Booth and Cass Business School.

Grow Movement was founded in 2009 and has now helped over one thousand entrepreneurs to expand and make long-term, sustainable improvements to their businesses, which has resulted in over 2,000 new jobs created. These new jobs have a significant impact on improving people’s lives in the community and on the opportunities for future generations.

Over the next 12 months, Redeem will support Grow Movement’s charity work as a donor and by providing pre-owned smartphones and laptops to entrepreneurs, in order to help them connect to their global business consultants and to have the necessary technology to improve their businesses. Once Grow Movement’s country managers have identified small business owners in need of advice, they will use the phones provided by Redeem to work through the mentorship and business improvement program with their allocated consultant. 

Redeem is also carrying out internal fundraising events to raise money for GROW. In August 2016, 15 Redeem employees took on the Three Peaks Challenge and climbed the UK’s three highest mountains in 24 hours, raising £2000 for GROW.

The partnership comes as Redeem completes its transition from a purely UK-focused recycling company into Europe’s largest mobile phone recommerce services business. This year the company has focused on supporting clients with a range of new services including diagnostics and supply chain solutions for high quality pre-owned devices. 

Paul Adams, CEO of Redeem, said: “We’re really pleased that Redeem is partnering with Grow Movement which is a brilliant charity whose work delivers real and long-lasting change to those who benefit from its involvement. Seeing the value in pre-owned handsets is central to Redeem’s business, so we’re delighted that some of the handsets we’ve processed will now have new lives helping to support African entrepreneurs.”  
 
Rick Kwan, Board Trustee of Grow Movement, said: “We are delighted to be forming this partnership with Redeem which will make a real and immediate difference to our work. These phones will be deployed immediately so the entrepreneurs involved with Grow Movement have a more reliable means of receiving the advice of our consultants, as well as a crucial tool for their business”

 

Consumers vote Envirofone the Best Recycling Service at the Mobile Choice Consumer Awards 2016

Redeem, the global provider of recycling and recommerce solutions for mobile devices, is delighted to announce that its consumer brand Envirofone has been voted the Best Recycling Service at the Mobile Choice Consumer Awards 2016 ceremony on 5 October 2016 at 8 Northumberland Avenue. 

Paul Adams, CEO of Redeem Group, said: “Over the past year we’ve invested a lot in making Envirofone the best place for consumers to recycle their old devices. Our focus has been to improve the overall customer experience by offering new services such as same day payment, faster processing and improved communication.  

“More and more consumers are now looking to trade in their old phone and buy their new handset from Envirofone. Envirofone gives them the dual benefit of supporting the environment and getting value from their devices. Is it extremely gratifying to be recognised in these awards because they are voted for by real customers.

“Envirofone is the most established mobile phone recycler in the UK. For over 10 years, Envirofone has given cash to consumers who send in their mobile phones to the company, using its well-known online portal and specially-designed cardboard mailing boxes.”

Using this consumer-friendly system, Envirofone has given over £170 million to more than 4 million customers in the UK, Holland and  Ireland, in return for their old mobile phones and tablets. 

Through its online shop, Envirofone customers can acquire the latest mobile phones second hand, by either trading in their existing phone or paying cash.

The Envirofone shop at http://shop.envirofone.com/ offers:

  • Access to over 100 product lines, including brands such as Apple, Samsung, HTC and Sony
  • High quality products that go through a 100 point quality check  
  • Market leading, award-winning customer service
  • Free accessories including certified data cable, sim tray opener and headphones
  • 6 month warranty and free next day delivery as standard
  • Service is available in the UK initially with plans to expand internationally

The Mobile Choice Consumer Awards celebrates the very best in mobile, from the most powerful handsets to the best value networks and retailers. The awards are decided solely by consumers, taken from Mobile Choice’s readership. 

 

Redeem prepares for another record-breaking iPhone launch

Expects to return over £20m to customers across Europe
 

(Bathgate, UK, 6 September 2016) Redeem, the leading mobile phone recommerce services company in Europe, expects to see a significant increase in trade-in volumes and £20million returned to consumers in the weeks following the latest iPhone 7 launch. 

Each year when Apple release a new iPhone Redeem sees a spike in customers looking to trade-in their old handsets in order to obtain the latest iPhone model. With the much-hyped iPhone 7 model expected to be announced on 7 September 2016, Redeem forecasts a number of beneficial outcomes for the business, including:  

  • Redeem anticipates over 10% growth in trade-in volumes across Europe over the next three months, compared to 2015
  • Redeem forecasts that one in every two devices traded in by consumers between September and November will be an Apple iPhone
  • The trade-in value of devices is increasing year-on–year; customers will receive a 15% increase in the value for their used iPhones as depreciation of high-end smartphones slows
  • Customers in the UK can expect to receive on average around £150 for their used iPhone and up to £400 for high-spec, newer models during the new iPhone launch period
  • Redeem will deliver its trade-in expertise to over 1,200 stores across Europe

Paul Adams, CEO of Redeem, commented:

“The iPhone launch is the key time of year for customers trading in their old devices and represents a huge opportunity for Redeem across all of our operating territories. Consumers are increasingly looking to get value from their old device in order to get the latest model. This shift in customer behaviour led us to develop our Financial Services offering, which provides Mobile Network Operators (MNOs) and other businesses with accurate price forecasting and the ability to realise future trade-in value of handsets. We’re able to do this due to our 20 years’ experience and deep industry knowledge. We’re excited about future opportunities as we develop our services in line with an evolving market landscape.”

Over the last four years, Redeem has transitioned from a UK-focused recycling company into Europe’s largest mobile phone recommerce services business. This year the company has focused on supporting clients with a range of new services including rigorous diagnostics and supply chain solutions for high quality pre-owned devices. Redeem expects to build on a highly successful year to date with record breaking results around the launch of the iPhone 7 model.

Programmes such as O2 Recycle, which Redeem operate on behalf of Telefónica UK, and Envirofone are just two initiatives expecting incremental volume increases in the UK. The increases are expected as consumers begin to look to use the value of their old devices to offset the price of the newly released iPhone model.  

Redeem also provides consumers direct access to a range of high-end quality refurbished devices through the Envirofone shop which provides a genuine alternative to buying a new device at a fraction of the cost of a brand new model. Customers can also purchase a range of add-ons including accessories, extended warranty and insurance services.  

Will iPhone 7 affect the trade-in price of your current iPhone?

With the release of the brand new iPhone 7 just around the corner, many of us will be contemplating trading in our old iPhones for the latest model. The unveiling is happening on September 7th, with an official release expected a week or two after.  

As previous iPhone releases have shown, the trade-in price of older iPhones dramatically decreases in the weeks following the announcement of a new model. Older devices are expected to drop in price by at least 30% in the first few weeks after the iPhone 7 press event, if figures from the dates surrounding the iPhone 6S announcement are anything to go by.

There’s never been a better time to sell your iPhone than right now. In 2015, the average trade-in price of older iPhones fell by 31% after the iPhone 6S was confirmed in September, showing a slight recovery in the third week (roughly when the iPhone 6S was released) and then falling once again. This decline continued, and by the end of 2015, the average trade-in price of older models had decreased by a staggering 44%. 

If trading in an old iPhone has been on your mind, this week is definitely the best time to do it. September 7th is almost guaranteed to be the announcement date, so make sure you act fast if you want to sell your iPhone. Currently, customers can trade-in 16GB models of the iPhone 6S for £305.00, iPhone 6 for £235.00 or the 5S for £96, with prices steadily going up as the storage increases.* 

Gather up any old or broken iPhones that may be lying around the house, and make sure you beat the price drop before the iPhone 7 lands. To ensure you get the best price, we recommend trading them in as soon as you possibly can. 

*  Prices accurate as of 02/09/2016. 

Redeem appoints Simon Walsh as Group business development director

Mobile veteran will take charge of developing recycler’s business operations and exploring new global opportunities 

Redeem has appointed ShP Limited co-founder Simon Walsh as its new Group business development director, effective from September 1.

He will report to CEO Paul Adams and will be responsible for developing Redeem’s business operations and pursuing new opportunities in its existing territories and in new markets globally.

In particular, Walsh (pictured) will take responsibility of the new Redeem Financial Services proposition, which will offer leasing options to mobile operators, manufacturers and other businesses.

He has 25 years experience in the mobile phone industry, having begun his career with Hutchison Telecom ad then Orange from 1991-2003.

In 2003, Walsh co-founded electronics recycling services company ShP Limited and became its sales and marketing director, where he worked with corporate clients, mobile operators, charities, educational establishments and the public sector.

He stepped down from that business in January to set up his own consultancy, Asset27, to pursue new opportunities within the IT and mobile market. He then began consulting for Redeem in June to develop overseas business opportunities in line with the company’s focus on international expansion.

Shift in strategy

Last year, Redeem reported revenues of £80 million. It now operates in 32 countries, with regional offices in the UK, Spain, Sweden, Estonia, Austria, Hong Kong and Dubai. Oven the last 12 months, it has signed a number of significant contracts with the likes of Three in the UK, Vodafone in spain and Samsung in Poland.

Redeem recently announced a shift in strategy to move away from low margin, more volatile segments of the market in order to focus on MVNOs and retailers where there are clear global opportunities. The company is also diversifying and expanding its services, and in particular will focus on two new projects: the Envirofone Shop, an online direct-to-consumer business selling pre-owned handsets; and a proposition that provides a guaranteed value for mobile devices over their lifecycle, allowing clients to develop disruptive marketing campaigns.

Experience and knowledge

Adams said: “Simon brings considerable knowledge of the global IT and mobile phone markets, a proven track record of delivering results, and he will be an outstanding addition to our senior team.

“We’re broadening our range of services to attract more clients internationally and I’m confident in Simon’s ability to develop and forge new client relationships on a global scale.”Walsh added: “Redeem has an excellent reputation for providing the best services to clients and consumers, but what also appealed to me about the business is that there is real potential to develop its services in new markets.

“This is a really exciting time to be joining the company and I look forward to playing an instrumental role in its growth.”

Source: Mobile News August 22 2016

Full year results for the year ended 31 March 2016

 “Positioned for further growth under new CEO” 

Redeem, the leading mobile phone recommerce services company in Europe, announces its full year results for the year ended 31 March 2016. 

  • Redeem has transformed itself from a UK-focused recycling company into Europe’s largest mobile phone recommerce services business
  • Appointment of new CEO Paul Adams to help drive growth and diversification
  • Exciting initiatives planned around the Envirofone shop and the launch of a residual value proposition

Results Highlights:

  • Strategic move away from lower margin and more volatile segments of the market towards mobile network operators and retailers
  • Significant new contracts won, including Three in the UK, Vodafone in Spain and Tele2 in Sweden 
  • Now operating in 32 countries in three continents, with regional offices in the UK, Spain, Sweden, Estonia, Austria, Hong Kong and Dubai
  • Handling over 1.8m devices per year and paying out in excess of £62m to customers every year
  • £80.2m of revenues reported for the past year with 69% of those sales coming from outside the UK, demonstrating the company’s global reach
  • EBITDA increased to £2.3m from £2.2m in the prior year, an increase of 5%
  • Gross profit increased by £1.3m to £17.3m and gross margin percentage was up from 20.1% to 21.7%
  • Revenues in the Middle East have grown to £1.6m having signed partnerships with three significant electronics retailers in the UAE
  • The Nordic business is going from strength to strength and Redeem now works with all major MNOs and a number of retailers across the entire region
  • In July 2016, Redeem hit the 2 million mark in terms of phones processed for O2 as part of their trade-in scheme
  • Redeem Holdings has also recently completed a major refinancing exercise with Clydesdale Bank

Paul Adams, CEO of Redeem, commented:

“We are pleased to have signed a number of important new contracts with the likes of Three in the UK, Vodafone in Spain and Samsung in Poland which help to demonstrate our appetite for international expansion. 

“In addition to expanding geographically, we are increasing our range of services to include, amongst others, device diagnostics and value-add refurbishment activities, in response to Mobile Network Operators and Retailers who are looking for a broader range of services from their suppliers.  

Two new areas of particular importance to the business over the next twelve months will be our online Envirofone shop, where customers can acquire the latest handsets and the launch of our residual value proposition which will provide customers with a guaranteed value for their mobile device over the lifecycle of the product – helping them to move onto new products more frequently as new models are released.”

To view Redeem's full annual report please click here

Redeem in the Sunday Times International Track 200

Redeem, the leading mobile phone recommerce services company in Europe, is delighted to announce that it has been ranked 79th in this year’s Sunday Times HSBC International Track 200, which lists Britain's mid-market private companies with the fastest-growing international sales, based on their latest two years of available accounts.

Redeem’s last full year results saw revenues of £80 million, having quadrupled in four years. The company continues to deepen its relationships with mobile network operators in multiple territories, while also operating successful B2B and consumer channels in the UK, Central Europe the Nordics and the Middle East. Redeem now operates across 26 countries in three continents.

Over the past two years, Redeem has seen annual international sales growth of 45% with total international sales of over £43 million and opened a global network of offices in places as diverse as Spain, Sweden, Hong Kong and Dubai.

Redeem takes back used mobile phones and other devices from corporates and consumers, testing and evaluating them before selling them, both within and across territories, to businesses and other consumers. The company has partnerships in place with several major network operators and nearly two decades of experience in the space.

Paul Adams, Chief Executive of Redeem, commented:

"This award shows how successful our hard working team has been at executing an ambitious international expansion plan which is aimed at establishing Redeem as the world's number one mobile recommerce services business. Redeem was established over 20 years ago and we have long been the UK and Europe’s leading company in the sector. Now, we are making the most of our expertise to deliver a truly international service which we believe really sets us apart from the competition."

A number of recent milestones for the company are listed below.

  • 1.8 million phones recommerced and recycled in calendar year 2015
  • £65 million given back to customers for their old phones in calendar year 2015
  • Officially opened Middle East and North Africa office in Dubai in 2015
  • Under Redeem’s continuing partnership with Telefónica UK on the O2 Recycle scheme, the largest of its kind in Europe, £130 million has now been returned to consumers
  • In June last year Redeem extended its consumer-facing Envirofone offer with the launch of online shop selling pre-owned mobile phones
  • New contracts signed in the last year include Three, O2 and Vodafone

Redeem appoints Paul Adams as Chief Executive Officer

(Bathgate, UK, 21 March 2016) Redeem, the leading mobile phone recommerce and recycling company in Europe, is delighted to announce the appointment of Paul Adams as Chief Executive Officer. Paul’s outstanding record of leadership and transformation with global businesses makes him ideally qualified to drive the company’s further growth across Europe and other world regions.

Paul takes up the CEO role at Redeem as the company continues to grow strongly, both organically and through acquisitions. Redeem’s last full year results saw revenues of £80 million, having quadrupled in four years. The company continues to deepen its relationships with mobile network operators in multiple territories, while also operating successful B2B and consumer channels. Redeem now operates across 26 countries in three continents.

Paul's career to date includes proven success in strategic, commercial and operational roles at leading international businesses, together with hands-on experience of M&A, from deal through to integration. Paul joins from Glory Global Solutions, where he became CEO following the acquisition of Talaris. Paul began his career at Diageo, taking senior roles before moving on to Smith & Nephew and latterly Talaris where as CEO he led the transition of the company to its new owners. 

Trevor Bayley, Chairman of Redeem, said: "Redeem's ambition is to become the world's number one mobile recommerce business̶̶  Paul shares that ambition, and has the drive, experience and talent to make it happen. We're a customer-focused organisation, and Paul will enhance and develop our capabilities, with the goal of continually exceeding our customers' expectations wherever they operate. We're also a growing business in a dynamic sector, and Paul's record is ideal for us - he joins from a $1 billion turnover global business where he worked with sizeable cross-border customers and delivered strong returns to shareholders."

Paul, who will begin working at Redeem on 18 April, said: "I've been highly impressed by the people working at Redeem, where I have found a real can-do culture, capable professionals, and a company that already feels like a great place to work. I want Redeem to achieve a clear leadership position in our chosen markets, and for us to be the brand of choice for mobile network operators, manufacturers and consumers alike. Mobile network operators and other international companies are investing heavily in device recommerce, confirming that this is an innovative and fast-growth sector where there is the opportunity to expand the market."

Claes Svensson is stepping back from an executive role at Redeem following three and a half years as CEO, during which he developed an ambitious vision for the group that has helped Redeem arrive where it is today. Trevor Bayley said: "Claes leaves Redeem the leader in the United Kingdom, the Nordics, Iberia and the Middle East, and with fledgling operations in Central Europe. He has overseen a quadrupling of revenues and led the group's transition from a UK focused company to a true international player. We would like to thank Claes warmly for his achievements at Redeem and wish him every success in his future career."

Claes Svensson commented: “I am pleased to hand over the reins of Redeem to the very capable hands of Paul Adams. His strong operational focus will take Redeem through the next exciting phase. I am pleased to remain a shareholder in the business and will now look to expand my portfolio of non-executive directorships.”

Redeem takes back used mobile phones and other devices from corporates and consumers, testing and evaluating them before selling them, both within and across territories, to businesses and other consumers. The company has partnerships in place with several major network operators and over a decade of experience in the space.

A number of recent milestones for the company are listed below.

  • 1.8 million phones recommerced and recycled in calendar year 2015
  • £65 million given back to customers for their old phones in calendar year 2015
  • Officially opened Middle East and North Africa office in Dubai in 2015
  • Under Redeem’s continuing partnership with Telefónica UK on the O2 Recycle scheme, the largest of its kind in Europe, £125 million has now been returned to consumers
  • In June last year Redeem extended its consumer-facing Envirofone offer with the launch of online shop selling pre-owned mobile phones
  • New contracts signed in the last year include Three, O2 and Vodafone

-ends-

 www.redeemgroup.com

For further information, images or interview requests please contact Powerscourt:

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0207 324 0492 / 07894 709 826

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0207 324 0492 / 07931 695 898

About Redeem

Redeem is a leading global provider of recommerce solutions for mobile phones and other handheld electronic devices.

Redeem takes back used mobile phones from corporates and consumers, testing and evaluating them before selling them, both within and across territories, to businesses and other consumers.

With over 20 years’ experience, Redeem operates in 26 countries on three continents, with regional offices in the UK, Iberia (Spain), Nordic/Baltic (Sweden and Estonia), Asia (Hong Kong) and Middle East (Dubai). £65 million has been returned to customers for their old phones in calendar year 2015. Under Redeem’s continuing partnership with Telefónica UK on the O2 Recycle scheme, the largest of its kind in Europe, £125 million has now been given to UK consumers.

Redeem’s customers around the world include Telefónica UK (O2 Recycle), Vodafone, Bell Canada, CellC, Telia Sonera and Tele2. The recycled mobile phone market is showing strong and accelerating growth, according to Technavio’s 2014 – 2018 Global Green and Recycled Mobile Phone Market report, with 79.5m units expected to be recycled in 2018, and 14.1% growth in 2014 moving up to 20.8% growth in 2018.

Around 95% of the traded-in devices Redeem handle are data-wiped, refurbished and resold. The 5% that cannot be restored are fully recycled, leading to zero waste going to landfill. Redeem provides the data and certification to satisfy the WEEE Directive and high quality CSR programmes.