Articles
Vice Versa's partners with Capital Street Partners
Source: AMEinfo, 16th November 2009
Following the launch of the Vice Versa franchise
concept in May this year Vice Versa has now teamed up with World Franchise
Associates and Capital Street Partners to assist them in identifying potential
partners for establishing the first new destination's as joint ventures.
Vice Versa International FZ-LLC, the management
company of the instant Cash-reward card for travelers and the leading solution
provider of smart card loyalty programmes, has teamed up with capital and
franchise advisers to accelerate their continued growth.
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% in users and transactions and more than 15%
growth in the Vice Versa related revenue generated in partner outlets.
"We feel fortunate that our partners continue
to show faith 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,"
says 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 mature. 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," adds Ole Milan.
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 2nd 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.
