/ Case Study
Serge Ferrari Leverages Altios’ Talent Acquisition Expertise for International Expansion
A global leader in composite materials, Serge Ferrari grew its revenue by 25 per cent through expansion in growth markets. Altios accompanied the French company by providing talent, legal, and administrative support to meet its financial target.
Summary
A global leader in composite materials, Serge Ferrari grew its annual revenue by 25 per cent through an expansion strategy in growth markets. Altios accompanied the French company by providing talent, legal, and administrative support to meet its financial target.
Background
The Serge Ferrari Group is a world leader in flexible composite-material technology and serves diverse sectors such as building, industry, furniture, and yachting.
The French company started in 1973 when its founder, Serge Ferrari, invented Précontraint®, a patented material that was light, resistant, and durable, thus offering weight-to-performance ratio, which meets the requirements of even the most demanding structures.
Today, the Serge Ferrari Group has three production sites, operates in 80 countries and has a network of 100 independent distributors worldwide.
Challenge
From its beginnings, international markets have been a key element of growth for the Serge Ferrari Group. The company’s innovative composite materials are used by architects, designers, and research agencies worldwide.
For more than 16 years, the company has relied on Altios for its international development. As sales outside of France represent 75 per cent of revenue, the Group continues to expand its operations in growth markets. The global market for composite materials is estimated at €6 billion. To further expand its international business, the company foresaw the high-growth markets of India and Australia as new opportunities for its unique composite materials.
In 2015, the company decided to accelerate its international activities and increase its export sales. With revenue at €148 million in 2015, the Group wanted to increase revenue by 25 per cent by 2018.
Solution
To meet its revenue objective, the company looked to its long-term partner, Altios, for its expertise in optimised expansion strategies that leverage growth-market opportunities.
The growth strategy meant doubling the number of international sales representatives from 80 to 160. In conjunction with talent acquisition, the Serge Ferrari Group began working on a project to increase its production capabilities with the construction of added manufacturing systems and further development of the company’s innovation centre.
To meet its objectives, the Serge Ferrari Group leveraged Altios’ expertise in worldwide talent acquisition, in addition to its administrative support and legal knowledge in diverse markets.
Altios employees are an added value for us. As we collaborate, they know our values and our company culture. They know how to become ambassadors of the SergeFerrari brand throughout the world, and this saves time and gives us a sense of security,
Result
In 2018, the Serge Ferrari Group reached €185 million in revenue. Going forward, the Group foresees a continued partnership with Altios as it looks at new global market opportunities for its innovative materials.