Vice Versa sees growth in consumer activity.
Vice Versa, the management company of instant cash-reward card for travellers and the leading solution provider of smart card loyalty programmes, said it has seen solid growth in its consumer activity in Dubai for the first nine months of 2009.
Following the launch of the Vice Versa franchise concept in May, the company has now teamed up with World Franchise Associates and Capital Street Partner to assist them in identifying potential partners for establishing themselves in multiple cities, taking their cardholders worldwide.
The 2009 started really well, second quarter was weaker, but third quarter has been extremely strong providing a growth in the first nine months on more than 40 per cent in users and transactions and more than 15 per cent growth in the Vice Versa related revenue generated in partner outlets, said a senior official.
"We feel fortunate that our partners continue to show fait in us and that we are able to continue to deliver increased value to both the consumer and our partners even in the current market conditions" said Ole Milan, co-founder of Vice Versa, and responsible for the international roll out.
Establishing Vice Versa in more cosmopolitan cities, together with new local market oriented concepts, and an increase of the partner outlets in Dubai is expected to fuel further growth and provide synergies for both partners and consumers.
"You can only do so much, at one point in time it makes sense to bring in advisors to help you to accelerate growth, as opportunities matures" he added.
"Teaming up with both World Franchise Associates and Capital Street Partners, assisting to find both franchise partners and capital we believe is the right combination at the right time, it also means that we can continue our focus on Dubai in the meantime."
Vice Versa has identified more than 30 cities that are believed to have what it takes to run a profitable franchise generating profit already in the second year of operation. The Franchises are offered on exclusivity bases per city and is expected to announce new partnerships already within the next couple of months.- TradeArabia News Service
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