Sainsbury's and Aimia set up joint venture to provide integrated marketing
MONTREAL, Sept. 20, 2012 /CNW Telbec/ - Aimia (TSX: AIM) and Sainsbury's
today announced they have formed Insights 2 Communication LLP (I(2)C), a joint
venture, which will offer suppliers comprehensive multi-channel marketing
solutions in and around Sainsbury's stores and online.
I(2)C will provide Sainsbury's suppliers with a 'one-stop shop' solution to
advertise across all of the retailer's communication channels - both targeted
and non-targeted. Through a series of licensing and supply agreements with
Aimia and Sainsbury's, the joint venture will combine people, intellectual
property and tools, and Sainsbury's fast-growing in-house non-targeted
communications business. The licensing and supply agreements will be for an
initial term of 6 years.
Similarly, the insight and targeted communications services that Aimia
currently provides to Sainsbury's suppliers, including access to Self Serve
and targeted communications, will also now be provided by the joint venture.
Aimia retains sole ownership of its existing proprietary data analytical
tools, including Self Serve. The international operations of Aimia's
Intelligent Shopper Solutions (ISS) will not be affected by the creation of
the joint venture.
The joint venture board will have equal representation from Sainsbury's and
Aimia, whilst the day to day senior management team has been created by
bringing together the best talent from both Aimia and Sainsbury's.
David Buckingham from Aimia has been appointed Chief Executive Officer of
I(2)C and will report to a board comprising: Mike Coupe, Sainsbury's Group
Commercial Director; Luke Jensen, Sainsbury's Group Development Director;
David Johnston, President and CEO, EMEA, Aimia; and Peter Gleason, Managing
Director, Intelligent Shopper Solutions, Aimia. Luke Jensen has been
appointed chairman of I(2)C.
Commenting on the joint venture, David Buckingham said: "From the home to the
checkout and beyond, I(2)C will offer suppliers a tailored advertising
solution in and around stores and online. We will help Sainsbury's suppliers
to plan, manage and deliver fully integrated campaigns more effectively to the
millions of customers who visit Sainsbury's stores or shop online each week."
Luke Jensen, Sainsbury's Group Development Director, said: "The joint venture
is a win-win for both customers and suppliers. This means more timely,
relevant and accessible offers for customers based on their likes and
dislikes, while brands benefit from an end-to-end insight based marketing
solution and greater return on investment."
David Johnston, President and CEO EMEA, Aimia said: "The launch of I(2)C is
testament to the growing interest in shopper marketing, targeting customers in
and around stores. Coupled with our data-driven approach, we believe I(2)C
will deliver better experiences for shoppers and greater ROI for suppliers who
will benefit from the integrated solution I(2)C offers."
Aside from a small initial working capital requirement, the joint venture will
be self sufficient from a cash perspective and is expected to fully distribute
its retained earnings to its shareholders on a regular basis.
The joint venture will give Aimia access to additional revenues, however, due
to the timing of the transaction and the terms of the arrangement, there will
be no material impact to Aimia's consolidated financial statements in
2012. For 2013 reporting, Aimia will evaluate the accounting of this
arrangement in compliance with the new standard, IFRS 11, Joint
Arrangements. Aimia will account for this entity either as a joint operation
which would mean accounting for its proportionate share of the revenues,
expenses, assets and obligations of the entity or it will account for the
entity as a joint venture under the equity accounting method.
Aimia Inc. ("Aimia") isaglobal leader in loyalty
management.Aimia'sunique capabilities include proven expertise in
delivering proprietary loyalty services, launching and managing coalition
loyalty programs, creating value through loyalty analytics and driving
innovation in the emerging digital and mobile spaces.Aimiaowns and
operates Aeroplan,Canada'spremier coalition loyalty program andNectar,
theUnited Kingdom'slargest coalition loyalty program. In addition,Aimia
has majority equity positions in Air Miles Middle East and Nectar Italia as
well as a minority position in Club Premier,Mexico'sleading coalition
loyalty program and Cardlytics, a US-based private company operating in
merchant-funded transaction-driven marketing for electronic banking.
Aimiais a Canadian public company listed on theToronto Stock
Exchange(TSX: AIM) and has over 3,400 employees in more than 20 countries
around the world. For more information aboutAimia, please
Follow us on Twitter: http://twitter.com/#!/aimiainc.
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forward-looking statements contained herein represent Aimia's expectations as
of September 20, 2012, and are subject to change after such date. However,
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