Alliance Data Systems' Ohio-based card services business has agreed to acquire the existing co-brand credit card portfolio of the US-based e-commerce retailer Williams-Sonoma.
According to Alliance Data, the acquisition of the Williams-Sonoma’s credit card portfolio will be consistent with its overall co-brand credit card portfolio, and all new co-brand and private label credit card accounts will be consistent with its credit quality standards.
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The transaction is likely to be concluded by the end of the third quarter of 2016.
Additionally, Alliance Data has signed an agreement with Williams-Sonoma to offer private label and co-brand credit card services for its portfolio of brands.
Alliance Data also manages the credit card programmes for Williams-Sonoma’s home and kitchen furnishings brands Pottery Barn and West Elm.
Williams-Sonoma president Janet Hayes said: “We look forward to working with Alliance Data to build a comprehensive credit card programme that bolsters our ongoing efforts to foster strong, long-term relationships with our customers and provide meaningful rewards as they pursue their home and culinary aspirations.
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By GlobalData“Leveraging Alliance Data's loyalty and marketing expertise, paired with our high standard of customer service, we're confident our new credit card programme will provide a value proposition that is unparalleled in the home and lifestyle category."
