Sadri Fegaier: "We are ready to seize opportunities if they arise”

Articles | February 11, 2022

Sadri Fegaier: "We are ready to seize opportunities if they arise”

CHAMPIONS OF GROWTH 2022 - Specialising in telephone insurance, Indexia (formerly SFAM) now aims to become a European leader in the distribution of multimedia products and services. It has risen to the top of the Top 25 of our ranking.

By Laura Berny

Published on 11 Feb 2022 at 9:06amUpdated on 11 Feb 2022 at 11:56am

Founded in 1999, SFAM (now Indexia), an affinity insurance brokerage, is a regular among growth champions. But this year, it is dominating the Top 25 with a turnover of €1.07 billion in 2020 and an average annual growth rate of 62.36% over the period 2017-2020. Interview with its CEO and founder Sadri Fergaier.

How do you explain the very strong growth of your group over the last few years?

Over the past few years, we have continued to strengthen our partner distribution networks, create new services such as website creation assistance, and develop our international presence. Since 2020, we have started a new step with the launch of a network of physical shops called Hubside.Store.

Why launch your own network?

Our strategy, like the Apple shops, is to sell a wider range of services in our store: reconditioned and new phones and tablets, insurance, scooter rental or multimedia and connected products, photo printing... We already have 100 of our own shops by the end of 2021, we will have 200 by the end of 2022 and nearly 500 within three years, 30 to 40% of which will be franchised.

Our complete dossier on the Champions of Growth 2022

The refurbished market is booming. 20 million smartphones are sold each year in France (300 million in Europe) and 2 million refurbished smartphones. We sold over 100,000 in the second half of 2021 alone. Within two years, we hope to sell more than one million refurbished phones. At our site in Romans, in the Drôme region of France, nearly a hundred technicians refurbish the devices. The Hubside.Store business already employs nearly 600 of the group's 3,000 employees in Europe and has generated more than 100 million euros in sales by 2021.

How far have you got with your international expansion?

Covid has slowed us down in our international expansion. Even though Spain now represents 40% of our sales, thanks in particular to a partnership with Fnac-Darty there. We are also present in Belgium, Switzerland, Portugal and Italy. In 2022, we are targeting Germany and the Eastern European countries.

What do you intend to do with your 11% stake in Darty?

It is a medium to long-term holding and we are happy with it. The multimedia market will evolve in Europe in the coming years, we are looking at everything related to distribution, and we are ready to seize opportunities if they arise.

The arrival of Ardian in 2018 valued you at 1.7 billion euros. Is an IPO a possibility?

Not for the moment.

The DGCCRF fined you for misleading commercial practices in 2019. What have you changed?

We continue to strengthen our quality control. But this is part of the hazards of large groups.

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