Club Med Goes Into Partnership With Finaref (PPR group)

7th Mar 2002

Club Med is going into partnership with Finaref (PPR group) to launch a new card for the leisure and travel sector
A global partnership between Club Méditerranée and Pinault-Printemps-Redoute group also plans the development and distribution of new travel offers.
Club Méditerranée is going into partnership with Finaref, France’s leading store card provider, to launch a new card concept reserved for members of Club Méditerranée in the first half of 2003. This partnership, which is Finaref’s first outside the PPR group, will supply more than 200,000 French households with the new card.
It also will translate into crossed commercial offering between PPR’s brand companies and Club Méditerranée group’s brands.

The new membership card will offer, besides the payment function, facilities for holidays financing, new Club Med benefits, together with a large range of exclusive offers from PPR’s retail brand companies.

The partnership will extend Club Med’s service offering to the PPR group’s companies that have a similar target market and image, including leisure and culture through Fnac, fashion through Printemps and Cyrillus (Redcats group) and sport through Citadium and Made in Sport…

In particular, members will be able to use this card in all Club Med’s agencies and resorts, at Club Med World, in Club Med Gyms, and in the sales outlets of the participating PPR companies.

Cardholders will be able to collect points that can then be converted into Club Med services.
They will also benefit from exclusive product offerings and benefits offered by the PPR group’s retail companies.


What is more, this partnership is backed up with a trading agreement intended to increase the visibility of PPR’s and Club Mediterrannée’s brands and commercial offers to their respective customers :

* extended offer distributed by Fnac Voyages and Printemps Voyages to the Club Med and Jet tours holidays;

* an original and unique offer of Club Med and Jet tours distributed by mail order to La Redoute’s costumers (Redcats group);

* specific Jet tours and Club Méditerranée holidays regularly offered by direct sales to customers of Finaref and PPR retail companies, together with setting links with the PPR group’s hundred or more e-commerce sites.

Serge Weinberg, Chairman of the Management Board & CEO of PPR group, stated: “This innovative agreement illustrates the strength of the PPR group’s retail brands, which will now be working with Club Med, a prestigious partner from the travel and leisure sector. It also highlights Finaref’s expertise and leadership in the store card sector as well as the know-how of its teams, who I am confident will play a leading and coordinating role in the scope of this partnership”.

Philippe Bourguignon, Chairman of the Management Board & CEO of Club Méditerranée, declared “This partnership will allow Club Méditerranée to meet a strong demand from its members by offering them a single Club Med card enhanced by many new leisure services and offerings in the spare time field. This backing from prestigious PPR brand companies whose target markets are similar to ours, will also give us access to new, varied and innovative distribution and promotion methods. This agreement is a recognition of the value of our brands and our teams’ expertise”.

Alain van Groenendael, Chairman and CEO Finaref, adds: “This first partnership outside the PPR group will allow Finaref to get a foothold in the leisure market, while providing its customers with an exclusive product offering from two leading groups; PPR in the specialised distribution sector, and Club Med in the leisure and travel sector”.

Club Méditerranée is France`s leading travel group, as well as a world leader and the inventor of package holidays. Operating in 40 countries across 5 continents, Club Méditerranée has more than 120 sea or mountain complexes, villas and cruise ship and caters for around 2 million customers each year.
It also owns Jet tours, one of the main French general Tour Operators, with which nearly 300 000 persons travelled last year, and offers a wide range of holidays : hotel stays, Eldorador vacation clubs, sightseeing tours, personalised holidays, short getaways, stays in sea-water therapy resorts.
In 2001, it achieved sales worth 2 billion Euros.

Finaref, a subsidiary of the Pinault-Printemps-Redoute group, offers a complete range of financial products and services relating to Credit, Insurance, and Savings to individual customers. As a leading French store card provider and issuer of 8.5 million cards (Printemps, Fnac, Conforama, the “Kangourou” card for La Redoute and the specialised brand companies within the Redcats group), the customer credit managed by Finaref amounted to 6.3 billion Euros in 2001, with a total credit production of 4.1 billion Euros. Finaref`s development rests on multi-channel distribution that combines Direct Sales (call centres and e-commerce sites) with a network of more than 400 sales outlets within the Pinault-Printemps-Redoute group. Pinault-Printemps-Redoute is the European leader in specialised distribution and an international player on the luxury goods market. The Group relies on its capital of leading brands companies to meet the specific needs of its 60 million individual and B-to-B customers and on a know-how common to all the companies. Operating in more than 65 countries and with more than 115,000 employees, the PPR group achieved sales worth 27.8 billion Euros in 2001, 54.7% of which were sales made outside France.




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