Vice Versa's activity in Dubai grows double-digit as they start to look for joint venture partners in multiple cities

٠٢ March ٢٠١٠

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 Partner to assist them in identifying potential partners for establishing the first new destination’s as joint ventures.
Press release: Dubai, 15th November 2009 Vice Versa International FZ-LLC, the management company of the instant Cash-reward card for travellers 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 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” 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 matures” adds Ole Milan.
“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 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.