Aimia announces new corporate focus
Montreal-based loyalty program company Aimia has announced a shift in focus for its business operations. According to the company, it will now seek to maximize the performance of its travel loyalty programs Club Premier and Big Loyalty, and to improve the performance of existing loyalty assets such as its Insights and Loyalty Solutions and Canadian Loyalty Solutions division. The company also plans to make acquisitions intended to “consolidate the loyalty solutions sub-sector.” Aimia plans to focus on providing services in 32 countries from a smaller number of hub locations, and to reduce its staff by approximately 25%.
“We are already transforming our loyalty solutions business, focusing on our best technology and clients, to drive a return to profitability off a stable revenue base,” said Jeremy Rabe, CEO of Aimia. “The next stage will be adding new clients and profitable businesses through bolt-on acquisitions, leveraging synergies across our existing client delivery resources and technology platforms. With loyalty solutions on the verge of the kind of consolidation seen in the broader marketing services space over the last two decades, we see a unique opportunity for Aimia to act as the agent of change within this growing $2 billion sub-sector.”
In related news, Robert Brown, chairman of the company since 2008, will retire at the end of this week. Bill McEwan, who has been a director of Aimia since 2016, will become its new chairman of the board. McEwan was previously president and CEO of Sobeys. Chief financial officer Mark Grafton will depart the company in May, to be replayed by Steven Leonard, currently vice-president of finance and chief accounting officer.