08 November 2007
LULU TO LAUNCH CO-BRANDED CARD WITH ADCB
Abu Dhabi: Earlier this week, Retail major Emke Group, who are more popularly known for their LULU chain of Hypermarkets, has announced it will launch a co-branded credit card with ADCB. an agreement was signed by Yusuffali MA, Managing Director of EMKE Group and Eirvin Knox CEO of ADCB to officially confirm the reciprocation. The new co-branded credit card is likely to be launched and offered to customers early next year and will offer many new and unique features with a host of benefits jointly offered by both Emke Group’s retail outlets/malls and ADCB.
Also present at the signing ceremony were; Saifee Rupawala - CEO of EMKE Group, and ADCB representatives, Ala'a Eraiqat - Deputy CEO, Arup Mukhopadhyay - Head of Retail Banking Group, Sarie Arar - Head of Corporate Banking and Kaizar Patla - Head of Cards.
Emke Group, which currently operates 64 hypermarkets and department stores across the GCC and Yemen, has an average footfall in excess of 300,000 which will be a major contributing factor towards the success of this new card.
Commenting on the new initiative Yusuffali said "It has been our continuous effort to offer our valued and loyal customers new dimensions and value additions to their shopping experience. With the launch of this co-branded credit card, our shoppers will not only get the usual features of an ADCB credit card but also unique additional benefits to reward them for their loyalty to Emke stores. We are delighted to have partnered with ADCB who are leaders for their innovative approach to banking and introducing revolutionary credit card features."
Eirvin Knox, CEO of ADCB cited “This agreement marks a new phase of growth for the ADCB credit card business, which is the key focus area for Retail Banking. The ADCB Credit Card business has witnessed phenomenal growth following the launch of a spate of new innovations, such as the Chip loyalty program and the new ADCB Flash Contactless credit card. Co-branded credit cards make for an incredibly powerful customer proposition; they are good for the bank, the strategic partner and most importantly, the Customer. We are thrilled that our first such signing is Emke Group, who are undoubtedly one of the leading retailing groups in the region and also a valuable customer”.
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