MONTREAL, Sept. 20, 2012 /CNW Telbec/ - Aimia (TSX: AIM) and Sainsbury's today announced they have formed Insights 2 Communication LLP (I 2C), a joint venture, which will offer suppliers comprehensive multi-channel marketing solutions in and around Sainsbury's stores and online.
I 2C will provide Sainsbury's suppliers with a 'one-stop shop' solution to advertise across all of the retailer's communication channels - both targeted and non-targeted. Through a series of licensing and supply agreements with Aimia and Sainsbury's, the joint venture will combine people, intellectual property and tools, and Sainsbury's fast-growing in-house non-targeted communications business. The licensing and supply agreements will be for an initial term of 6 years.
Similarly, the insight and targeted communications services that Aimia currently provides to Sainsbury's suppliers, including access to Self Serve and targeted communications, will also now be provided by the joint venture.
Aimia retains sole ownership of its existing proprietary data analytical tools, including Self Serve. The international operations of Aimia's Intelligent Shopper Solutions (ISS) will not be affected by the creation of the joint venture.The joint venture board will have equal representation from Sainsbury's and Aimia, whilst the day to day senior management team has been created by bringing together the best talent from both Aimia and Sainsbury's. David Buckingham from Aimia has been appointed Chief Executive Officer of I 2C and will report to a board comprising: Mike Coupe, Sainsbury's Group Commercial Director; Luke Jensen, Sainsbury's Group Development Director; David Johnston, President and CEO, EMEA, Aimia; and Peter Gleason, Managing Director, Intelligent Shopper Solutions, Aimia. Luke Jensen has been appointed chairman of I 2C. Commenting on the joint venture, David Buckingham said: "From the home to the checkout and beyond, I 2C will offer suppliers a tailored advertising solution in and around stores and online. We will help Sainsbury's suppliers to plan, manage and deliver fully integrated campaigns more effectively to the millions of customers who visit Sainsbury's stores or shop online each week." Luke Jensen, Sainsbury's Group Development Director, said: "The joint venture is a win-win for both customers and suppliers. This means more timely, relevant and accessible offers for customers based on their likes and dislikes, while brands benefit from an end-to-end insight based marketing solution and greater return on investment." David Johnston, President and CEO EMEA, Aimia said: "The launch of I 2C is testament to the growing interest in shopper marketing, targeting customers in and around stores. Coupled with our data-driven approach, we believe I 2C will deliver better experiences for shoppers and greater ROI for suppliers who will benefit from the integrated solution I 2C offers." Aside from a small initial working capital requirement, the joint venture will be self sufficient from a cash perspective and is expected to fully distribute its retained earnings to its shareholders on a regular basis.