(HX), India's #1 Refurb Electronics Brand, has steered healthy revenue growth and robust growth profit. The company has announced positive quarterly performance for the quarter ended December 2021. HX expects a 10x growth in the year 2022.
HX enjoyed a solid year of business growth in 2021 that included a triple-digit increase in revenues, accompanied by doubling down the team strength with presence in over 350 retail outlets and exclusive franchised retail opened in Bangalore, Guwahati, Kochi, Patna and Raipur, despite COVID-19.
"We are extremely happy with our 2021 results from product, revenue and operations perspectives," said Dipanjan Purkayastha, Co-founder & CEO, hyperXchange. "This market has nearly doubled since 2020. Most structured players, especially the ones dealing in refurbished electronic goods, have achieved six to eight times growth. Thanks to this success, we are very well positioned in 2022 for expansive growth of the community, customers, and market share."
Owing to the pandemic, 2020-2021 has been a very profitable year for brands that deal with 'unboxed' or 'refurbished' products. HX saw good traction this financial year, making it to the Financial Times' list of high-growth companies in the Asia Pacific for 2022. With the introduction of its D2C brand- Nuboxed, gained further sales momentum and was the first refurbished brand to enter the D2C space.
Beyond advancements in business and technology, the company has also been committed to a climate positive revolution with its refurbished technology since its inception. In 2022, HX became one of few Indian corporations to be become part of the United Nations Global Compact, with a focus towards reducing carbon footprint and landfill waste by scaling HX's circular economy value chain globally.
In another attempt to give it back to the environment, hyperXchange launched a range of limited-edition designer yet upcycled and eco-friendly accessories handcrafted by financially challenged women in semi-urban/rural areas of India.
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( With inputs from ANI )
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