Meet Saket Saurav, old mobile phone dealer who earned Rs 200 crore, now aims for Rs 350 crore revenue

Saket Saurav and his partner Avneet Singh started their company in 2017. Within five years, they have reached a revenue of Rs 200 crore. Their business: selling old phones. Yes, you have heard it right. Here's his story. 

Saket Saurav completed his MBA from International School of Business and Media in 2011. He was sales head for Shop Clues. He had also worked for LG Electronics. In 2017, he and his partner launched ReFit Global with the idea of catering to Tier 2 and Tier 3 cities. They started selling refurbished phones and other electronic items through their distribution channels. Their endeavour has been a grand success.

The first year, their revenue was Rs 8 crore, then 19 crore, then 24 crore, then Rs 44 crore. They crossed Rs 100 crore in FY 2021-22. Last financial year, they earned a whopping Rs 200 crore in revenue. 

They are currently completely bootstrapped.

Refit Global buys phones exchanged on Flipkart, Amazon, Oppo, Xiaomi and Vivo, reported Your Story. They renew the phone by resolving technological and cosmetic problems. Then sell these phones via several distribution channels. 

They do 37 quality checks on the phone and run diagnostics through an application they developed.

After the phone is completely declared fit for use, they sell it off. They also refurbish other devices.

80 percent of their phones are sold on Flipkart. Other e-sellers sell 20 percent. Last year, they sold 5 lakh mobile phones.

Saket Saurav told the website that their phones are upto 70 percent cheaper than new mobile phones. These phones are sold to retail outlets of refurbished goods that sell them to customers.

They hope to earn Rs 350 crore this financial year.