ATRenew seeks global growth path

ATRenew Inc., a recycling services company based in Shanghai, has been taking several measures to expand internationally beyond its home market in China.

The firm, which describes itself as China’s premier circular economy electronics and goods recycling company, now has a presence in Japan and Europe through initiatives undertaken there and trades its stock on the New York Stock Exchange.

In 2023 ATRenew's global revenue grew by more than 31 percent, reaching $1.82 billion last year.

One way the company has been strengthening its international presence is via AHS Device, an international logistics arm of ATRenew that was created in 2020. AHS Device efforts have included the placement of self-service recycling kiosks with Janpara, a retail store chain in Tokyo and Yokohama, Japan. ATRenew also has deployed quality inspection technology in Hong Kong and Japan.

In Europe, the China-based company has partnered with Finland-based Swappie, an online platform for the recycling and resale of used mobile phones, in a program to place self-service recycling kiosks in Sweden.

ATRenew sees a sizable market for its services within and outside of its home country. On its website, the company cites a report by the Shanghai-based China Insights Consultancy which found that by the end of 2021 the total number of devices in use for consumer electronics in China alone was 2.7 billion units.

The same study estimated the overall penetration rate for preowned consumer electronics in China as representing just 4.2 percent of that market.

Within China, ATRenew is branded in part as AHS Recycle, operating a chain of stores and self-service kiosks and offering pick-up services, a website and an app under that name.

AHS Recycle lists several consumer electrics companies as being part of its partner network, including  Apple, Huawei, Honor, JD Group, Oppo, Vivo, Xiaomi and drone maker DJI.