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=== Magpie Circular: Sourcing from corporates, revenue potential === MMAG’s corporate recycling initiative was soft-launched in February 2021, primarily as a means of increasing the potential sources of technology products (smartphones, tablets and Apple computers) that can be then sold on to its retail customer base. The corporate customers benefit from easier recycling of old technology, surety about the extent and quality of the data wipe, and enhancing their own environmental credentials. Although it is still early days for the initiative, management is encouraged by its experiences in sourcing (having worked with companies including Dentsu Aegis, Deloitte, Zurich and adidas) and, significantly, it has become apparent corporates may become a good source of new revenue streams as a result of other recent initiatives across the group, diversifying MMAG away from its current consumer focus. With respect to sourcing, there is growing interest from corporates to develop an ongoing relationship, for example MMAG agreeing to purchase the company’s ageing technology on a multi-year basis rather than the current ad-hoc purchases by MMAG. From a revenue perspective, management points to recent success with Deloitte, with whom it has a contractual relationship to recycle 25k iPhones on a three-year cycle.
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