In July 2024 Challenges put Thibaud Hug de Larauze's wealth at more than €375 million in its ranking of French fortunes. The estimate is based on the value of his shares in Back Market, which is not listed.
He founded Back Market in 2014 with Quentin Le Brouster and Vianney Vaute. It raised about €300,000 from private investors in May 2015, €7 million in May 2017 and €41 million in June 2018 from Daphni, Eurazeo and others.
Goldman Sachs Growth led a €110 million round in May 2020, and sales roughly doubled during the lockdown. A €276 million round followed in May 2021, and in January 2022 Back Market raised €450 million at a €5.1 billion valuation. At the end of 2022 it cut 13% of its staff, 93 of 715 people.
Back Market reached its first European profitability in 2024 and its first worldwide profitability in 2025. It reported $3.5 billion in gross merchandise value for 2025 and announced physical stores in September 2025.