Vice Versa® continues to grow stronger

٠٧ October ٢٠١٠
City: Trivandrum

Vice Versa® continues to grow stronger as they deliver unmatched value to visitors to Dubai and Vice Versa partners alike.

Adding to Vice Versa International’s strength is the closing of a private placement earlier this year facilitated by Capital Street Partners

Press release: Dubai, 30 June 2010 Vice Versa International FZ-LLC, the management company of the instant Cash-reward card for Visitors  and provider of white label loyalty programmes, have delivered high growth rates year on year in number of card-users and generated sales value in Vice Versa partner outlets since its launch in Dubai in May 2007.

“Having maintained solid double digit growth in number of card users and sales value through our card programme since 2007, and importantly through 2009, we are delighted to see the trend continue well into 2010, where the first 5 months have provided our participating partners with +50% increase in Vice Versa related revenue compared to the same period last year. Our numbers clearly indicate that customers still need to be incentivized to make a purchase – as close to 80% of the Vice Versa generated partner sales divine from repeated transactions from our card users, it is pretty clear that the Vice Versa card influences where visitors spend their money” says Kira Milan, Managing Director in Vice Versa.

“As the number of visitors to Dubai keeps increasing so does the importance of their spending to the local retailers, and we are of course happy that we can continue to deliver unmatched value to both consumers and business partners and thereby connecting the two in a win-win transaction” continues Kira Milan.

Vice Versa’s 4th appearance at Arabian Travel Market last month, targeting overseas distribution towards visitors on their own home turf is further raise the attention for elected nationalities all in line with the trends that Vice Versa sees as Russians and UAE nationals, continues to be in the top, but with Indians, Saudis and Chinese moving quickly up the latter consolidating in the top five of money spending nationalities. The highest spend in a single Vice Versa transaction this year is AED 90,000.

Though maintaining high organic growth rates from the existing partner base and products, Vice Versa is aiming to add new partners to their network as well as launching new products and new city destinations.

“We engaged with Capital Street Partners last year, to secure funding for further growth and the private placement that was finalized earlier this year, not only give us and our partners a certain peace of mind in a turbulent time but also provides us with the possibility to invest in improving our current offerings as well as to invest in other obvious areas of potential growth that will further strengthen our position both locally and internationally” adds Ole Milan. “Though the enrolment period for our next guide is still open it is already clear that the 10th version of our premium guide will become a new record in number of Vice Versa partners. Further, we are already in process to finalize new initiatives for launch later in the year, to the combined benefit of our partners and users and therefore we expect to end 2010, as we did 2009, on a new all time high.”