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| Tata Capital to form JV with Canadian firm |
| BS Reporter / Mumbai Sep 23, 2011, 00:37 IST |
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Tata Capital, a subsidiary of Tata Sons, on Thursday announced that it will form a joint venture (JV) with Groupe Aeroplan Inc, a Canadian Loyalty Marketing company, to launch a multi-party coalition loyalty programme in India.
Tata Capital and Groupe Aeroplan have signed a memorandum of understanding (MoU) as a confirmation of their intent to form the JV company.
The programme will be modelled on the lines of Nectar, which is Groupe Aeroplan’s coalition loyalty programme in the UK and Italy.
“The programme will leverage the brand, scale and reach of the Tatas in India and is expected to substantially drive and benefit from the rapidly evolving retail and consumer marketing landscape in the subcontinent”, stated a release.
Praveen P Kadle, managing director & CEO, Tata Capital said, “Indian consumerism has evolved manifold over the last decade and offers significant potential for a coalition loyalty programme. Realising this potential requires an established global player which has the necessary expertise and proven track-record in launching and managing successful loyalty programs across geographies. We are pleased to join hands with Groupe Aeroplan – the global experts in loyalty management”.
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