New owner for German rewards programme??
German retailer Karstadt Warenhaus, a unit of Arcandor AG (ARO.XE), is to acquire Deutsche Telekom’s 51% stake in CAP Customer Advantage Program. ?? CAP operates the HappyDigits bonus program, a customer reward scheme. This will make Karstadt the sole proprietor of CAP. Financial details of the deal were not disclosed, but it is thought Karstadt paid Deutsche Telekom a low single-digit million euro sum for its stake.
HappyDigits members can collect points with purchases retail partners, telephoning with DT or with travel reservations. They get bonus for purchases at Karstadt and the Telekom. Other partners are the car rental service Sixt, and grocery chains Kaiser’ s and Tengelmann.
Deutsche Telekom says it is disposing of its shares to focus on its core business. Karstadt, via Arcandor, held the remaining 49% stake.
The acquisition is subject to approval by the German Federal Cartel Office.