Sadri Fegaier is the founder of Indexia Group, more than just an entrepreneur, he has been able to climb the ranks of the insurance world over the course of his career thanks to his innovative ideas. Passionate about horse riding, he is today the youngest billionaire in France. Focus on his career and the scandals surrounding the entrepreneur.
The beginnings of Sadri Fegaier
Although he is now a billionaire, this was not always the case. And for good reason, Sadri Fegaier, born on October 25, 1979 in Bourg-du-Péage, in Drôme, in a rather modest environment. Indeed, his mother is a housekeeper and his father, a truck driver. The young man grew up in the Rhône-Alpes region and obtained a BTS. Once her diploma in hand, Sadri Fegaier launched into entrepreneurship. To do this, he decided to open a first store specializing in mobile telephony. To succeed in this business, he did not hesitate to borrow nearly 50,000 francs from a bank. A few years later, he joined Espace SFR and implemented a regional development strategy. Winning strategy since it will open five new stores.
Sadri Fegaier: an entrepreneur like no other
But his story doesn’t end there… In 2010, he invented a new revolutionary concept at the time: affinity insurance. His idea is simple: comprehensive insurance for mobile phones. A risky bet at the time. The businessman offers comprehensive insurance, he decides to market insurance products in his own stores. But the risk is enormous, since the young entrepreneur carries out this operation with his own funds and without any financial support. His idea appealed to the public and this is how Indexia Group was born.
Focus on Indexia Group
Today Indexia Group has more than 8 million customers and employs more than 3,000 people. The company has established itself as a true leader in affinity, telephony and multimedia insurance. Indexia Group is now present in the main European markets. In addition, the group has been able to diversify. In fact, it now offers the repair and recycling of devices, assistance services for the creation of websites, loyalty programs, and the distribution of new and reconditioned products. In 2022, its turnover was 1.26 billion euros.
Sadri Fegaier and her amazing business methods
In 2018, Indexia had already been sentenced to a criminal fine of €10,000. The group is now once again in turmoil. Accused of fraudulent practices, Indexia would take advantage of its insurance contracts to deduct unjustified amounts from their customers, which could reach tens of thousands of euros. Indexia offers insurance in numerous brands such as Orange, SFR or Fnac, and several thousand customers are affected by these fraudulent direct debits.
Following the impossibility of contacting customer service or obtaining a refund, nearly 6,000 customers came together to help each other but also with the aim of taking collective action. Indeed, several rallies took place in front of Indexia’s premises in order to obtain reimbursements. These actions proved effective, since almost all of the demonstrators were able to take steps to recover their dues.
However, even when reimbursing Indexia uses a questionable protocol. In exchange for the amount of money fraudulently taken, customers must sign a document exonerating the company from any fraudulent actions. Indeed, the beneficiaries of the reimbursement recognize, among other things, “ that these withdrawals took place in accordance with the contract(s) signed between the parties and that the client has/would have benefited from services in this respect “, also prohibiting customers from harming the company, methods which appear intimidating.
Awaiting a second criminal trial, the group has been banned from selling insurance since the end of April.
Hubside.Store: its new concept
No more waste, consumers now prefer to repair items that no longer work, rather than throwing them away. This is how the idea of a new concept germinated in Sadri Fegaier’s head. Hubside Store, a concept dedicated to the circular economy. In fact, these are stores specializing in the sale of new and reconditioned products. In addition, it offers a rental, repair and even recycling service thanks to spaces provided for this purpose within its stores. All this while advocating short circuits and Made in France.
Two years after its launch, Hubside Store has 120 stores. From now on its ambition is to conquer the European market. However, the store has come under fire with many calling Hubside Store’s business practices misleading.
Sadri Fegaier, an employer who lives with the times
Sadri Fegaier has decided to run a company where its employees flourish. A successful challenge since Indexia Group managed to appear 6 times in a row on the HappyAtWork rankings. All of its premises are designed to facilitate the working conditions of its employees: individual workspaces, adapted telephony, curved screens, anti-eye fatigue system, ergonomic seats and many other things!
That’s not all! For Sadri Fegaier, the development of its employees also involves that of interns and work-study students. As proof, in 2021, Indixia Group obtained the HappyTrainees label which rewards the quality of reception, management and training. But that’s not all, CSR is also one of the businessman’s concerns.
Sadri Fegaier and horse riding
In addition to being a successful entrepreneur, Sadri Fegaier is also a very talented horseman. Passionate about horse riding since his childhood, he is now the owner of a stud farm with more than thirty horses. It also organizes competitions such as the International Jumping of Valencia.
