sign in sign up
<<
Home , Arcadia Group, Debenhams

A new deal for NewDay: Arcadia signs new five year partnership

1st April 2014 A new deal for NewDay: Arcadia signs new five year partnership

The , which comprises nine of the high street’s best-known brands, has formally agreed a five-year extension to its partnership with NewDay, until 2018. This means that NewDay (formerly SAV Credit) will continue to provide co-branded credit and store cards for brands such as , Outfit and Top Shop, among others. NewDay acquired the Arcadia account in May 2013, as part of a credit and storecard portfolio purchased from Santander and in October 2013 launched a range of MasterCards across the majority of the Arcadia group. Both parties are looking forward to continuing their mutually beneficial relationship. A spokesperson from the Arcadia Group, said: “We believe NewDay have all the capabilities necessary and we’re very pleased to be partnering with them for a further five years. We particularly like the fact that they’ve a wealth of experience in credit risk management across a broad consumer spectrum. Of course, we want as many of our customers as possible to access our card products, provided they borrow affordably, and so we also value NewDay’s responsible approach to lending.” While NewDay Chief Executive Officer, James Corcoran commented: “It’s a privilege to be working with a group like Arcadia, with their great brands. The new deal confirms the confidence that Arcadia has in our team. We’re looking forward to continuing to reinvigorate Arcadia’s co-brand card programme, by delighting customers and helping to encourage loyalty to the Arcadia brands.”

CONTACT Kevan Reilly Citigate Dewe Rogerson [email protected] Tel: 020 7282 1096/07977 550913

NOTES TO EDITORS About NewDay Renamed in April 2014, NewDay was previously known as SAV Credit which was founded in 2000. NewDay is one of the fastest-growing businesses in the UK and a leading company in the credit card market. In May 2013 the company completed the acquisition of a retail co-brand card and point of sale finance business for many of the UK’s best-known high street retailers including , the Arcadia Group, and Laura Ashley. In total the company has over 4 million customers and in excess of £1.3bn of receivables and expects to welcome over 1 million new customers this year. Our consumer brands include the innovative aqua branded range of credit cards.