Electra Consumer Products continues its successful year: The company announced today (Sunday) the signing of an agreement in principle with CAL for the establishment of a non-banking customer club for the group’s retail chains. The customer club will operate on a credit card basis and will benefit from the credit company’s infrastructure in the field of customer clubs. The customer club will be fully owned by Electra Consumer and will be operated by ICC.
The establishment of the club comes after a series of strategic moves led by the company led by CEO Zvika Schweimer, which turned Electra Consumer from an electrical and air conditioning company into a leading consumer group in Israel. Will provide its members with value bids on purchases in all Electra Consumer Group chains and in the cooperative networks that will be restored in the future.
In addition, the club’s benefits will also be provided in the international chains that Electra will launch in the last quarter of the year: retail giant Carrefour’s supermarket chain after the agreement is completed, and the convenience store chain of the world’s leading convenience stores Saban Elban.
Agreement for 10 years and the profits will be divided equally
The value proposition will be in the model of accumulation and realization in the club networks. The data of the purchases in the club will help Electra to adjust the mix of products and services to customers and will allow to offer special value propositions to each and every customer. In addition, the club will provide its members and other customers of the group with non-bank credit through ICC. The agreement between the parties is for a period of 10 years.
In accordance with the mechanism set forth in the Agreement of Principles, the profits of the Club, including the profits from the granting of the credit, shall be divided equally between the parties. In addition, ICC undertook to make available to Electra Consumer Support Grants and a safety net for the first two years of cooperation for the purpose of supporting the establishment of the club. Also, ICC will pay Electra consumption bonuses for meeting targets.
The contracting model between the parties ensures the establishment and operation of the customer club in an efficient and profitable manner. It also enables Electra to maintain an array of loyalty and value with its customers and provide them with non-bank credit. Completion of the transaction is subject to the conclusion of a detailed agreement and its approval by the boards of directors of the two companies.
Another step in the successful year of Electra Consumer Products
Amatz is traded at a value of NIS 4.26 billion and in the last three years the stock has yielded investors a return of over 480%. From the company’s green strategy, AMZ will soon begin construction of a plant for recycling air conditioners and electrical products in Ashkelon, with the goal of recycling 50% of all electrical waste in the State of Israel within a decade.
Electra Consumer Products from the Elco Group is controlled by the Zalkind brothers. In the last two years, the company, led by CEO Zvika Schweimer, has made a number of strategic moves that have positioned it as a leading consumer and retail group in Israel. Electric. In the second, it controls the Bitan Wines chain and is the franchisee to open a convenience store chain of the global Saban Elban brand.
Electra Consumer CEO Zvika Schweimer said: “The customer club is another step in the establishment of the company as a leading consumer group in Israel. The club will create a complete synergy between the various activities in the group and will allow us to bring a unique and differentiated value proposition to the company’s customers. ”
ICC CEO Levy Halevi added: “The power of Electra Consumer Products, along with ICC’s technological capabilities in the worlds of payments and credit, will lead to the establishment of one of the leading consumer clubs in Israel.”