Alliance Data Expands Relationship with Top-10 Client New York & Company to Include Co-Brand Credit Card Services Also Extends Existing Database Marketing Services Agreement-Both long-term agreements focused on complementing existing private label credit card program to drive sales, customer loyalty
Friday, 24 February 2006
Alliance Data Systems Corporation, a provider of transaction services, credit services and marketing services, announced that it has signed a long-term agreement with New York & Company, Inc. to provide a co-brand credit card program.
Alliance Data also announced today the signing of a contract extension to continue providing database marketing services for the retailer. These credit and marketing services will augment New York & Company's existing private label credit card program, which Alliance Data has provided since 1996. New York & Company is a leading specialty retailer of women's fashions and accessories with 2005 sales of over of $1 billion and more than 500 retail locations nationwide.
Under terms of the agreements, Alliance Data will provide account acquisition and activation, receivables funding, credit authorization, card issuance, statement generation, direct mail and email marketing services, remittance processing, and customer service functions. The co-brand credit card program will complement the retailers' existing private label credit card program, providing select customer segments with an alternate card choice for making purchases. As is consistent with the private label credit card program, the co-brand offering will be targeted to customers that meet Alliance Data's traditional credit quality standards.
Through the co-brand credit card program, cardholders will automatically be enrolled in a rewards program and receive points for every dollar spent when shopping at New York & Company locations, as well as for purchases made outside the brands. Additionally, through the database analytics services, Alliance Data will design, execute and analyze results of direct marketing and email campaigns for New York & Company's entire customer universe. These services will be utilized to promote special merchandise offers and drive traffic into the stores.
Ron Ristau, chief financial officer and chief operating officer for New York & Company, said, "The addition of Alliance Data's co-brand credit card program to our existing private-label credit card offering will provide our customers with a complete range of purchasing options, while the database marketing services will continue to provide critical consumer insight into wants and needs of our customers. Through our long-term partnership with Alliance Data, we have been able to increase sales and establish more loyal relationships with our customers. Credit has consistently played an important role in our overall marketing mix and business success, and these program offerings will provide even greater opportunities to grow our customer base and increase sales."
"We are pleased to expand our relationship with New York & Company and believe that today's announcement is reflective of New York & Company's confidence in our integrated credit and marketing solutions," said Ivan Szeftel, president of Retail Services. "Through this co-brand credit card program, we will help New York & Company more effectively engage with additional customer segments that find greater appeal in wider purchasing and rewards-earning capabilities. Additionally, we expect to help increase sales through our carefully planned and executed database marketing programs. In all, we're providing a comprehensive and fully integrated credit and marketing solution that will help New York & Company reach more customers, drive sales and increase customer loyalty."