The ambitious new French player in the ‘refurbished’ multimedia market is set to open 20 stores across Belgium this year along with additional growth across Europe.
The first of the 20 Belgium stores launched over the weekend in Louvain-La-Neuve, with other stores soon to join it in Tournai, Brussels, Mons and Charleroi. The growth needs to happen quickly according to the company.
“Of the ten million smartphones sold each year in Belgium, one million are refurbished devices,” says CEO Sadri Fegaier in conversation with RetailDetail. “The market is growing by ten per cent a year. The crisis will further accelerate this trend.”
The Hubside.Store is growing fast and has large European ambitions. It has opened 50 stores in nine months in France, 30 in Spain and 10 in Portugal this year. By the end of this year, the retailer aims to have a turnover of 100 million euros with 100 stores – there will be 500 locations by 2023. The company is part of Indexia Group, formerly known as SFAM, which specialises in multimedia insurance and also owns Apple reseller Switch. Indexia is also the second largest shareholder in Fnac Darty.
