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3
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· Posted on
February 21, 2024

Officeworks buys stake in World's Biggest Garage Sale

With plans to save the world...one recycled printer at a time.

What's the key learning?

  • World's Biggest Garage Sale are tackling the issue of waste by trying to create a circular economy.
  • Officeworks just bought a 21% stake in the profit-for-purpose company with plans to help it grow
  • The circular economy is an alternative to the standard linear model we know well.

Background: Officeworks is the Aussie office supplies company that's owned by Wesfarmers. It launched back in 1994...and has been saving school-kids and WFH-ers ever since.

What happened: World's Biggest Garage Sale are tackling the issue of waste by trying to create a circular economy. Their mission is to repair, repurpose and re-sell goods to help the environment.

What else: Officeworks just bought a 21% stake in the profit-for-purpose company with plans to help it grow.

So what's the key learning?

💡 The circular economy is an alternative to the standard linear model we know well. So, instead of the:

  • take, make, use and dump model.

We've got the:

  • take, make, use, recycle, repurpose, reuse model.

💡 The linear model works well, but as the price of raw materials increases...the cost of producing items also increases.

💡So, if companies get their used products back...they can recycle and remanufacture them. It's better for the environment and it reduces their dependency on raw materials. Good for the planet...for business...and for Officeworks.

‍

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