Turning cast-offs into cash: China’s Zhuanzhuan looks to Europe and the US for growth
From phones to luxury bags, the recycling platform wants to take its ‘trash to treasure’ model global as second-hand demand accelerates
China’s recycling platform Zhuanzhuan is preparing to expand into Europe and the US by the end of the year, betting that demand for second-hand goods will continue to rise amid economic uncertainty despite geopolitical tensions.
Backed by tech giants Tencent Holdings and Xiaomi, the Beijing-based company plans to export its model – which combines advanced quality inspection technology with door-to-door services – to get a slice of overseas markets.
A dedicated international website was expected to launch within the next two to three quarters, according to CEO Huang Wei.
“We believe our business model and technology are globally competitive,” Huang told the South China Morning Post. “We aim to replicate this overseas and create value for local consumers.”
Founded in 2015 as a consumer-focused second-hand marketplace, Zhuanzhuan has evolved into a full-service recycling platform. It now operates in more than 130 cities across China, runs over 1,300 physical outlets as of this month, and offers inspection and collection services for used goods ranging from smartphones to luxury handbags before reselling them on its platforms.
Amid intensifying domestic competition, the company turned profitable in 2022 – its seventh year of operation – and has since ramped up investment in online marketing.