Launching the Mandarine card
Following a call for bids, La Maison de Valérie (LMDV), a company that specialises in mail-order sales of home furnishings, selected Finaref to manage Mandarine, its first store card. Packed with useful features, the new card will be available to customers as of 1 January 2007.

Finaref is already partnered with PPR group brands, including Fnac, Surcouf, La Redoute, Vert Baudet, Daxon, as well as with Printemps, Club Méditerranée and, most recently, Téléshopping, the home shopping subsidiary of TF1, a French television channel. This latest move consolidates Finaref’s positioning on the store card market. The two partners estimate that in 2007, 100,000 Mandarine cards will join the 6.5 million cards already on the books of the Crédit Agricole’s consumer finance subsidiary. "Our customers, mainly families, have a big appetite for credit, which comprises 75 per cent of our sales," explains Philippe Renaux, CEO of La Maison de Valérie, adding that "this modern card offers a comprehensive range of payment and other options and will be a major growth driver for us. It is set to play a key role in winning customers in our target group, which chiefly comprises younger people who have recently acquired a home and want to furnish it reasonably cheaply."

Packed with features and perks
Customers will learn that their new card, which is provided free of charge, offers a host of benefits. Holders do not have to pay anything when placing an order and also enjoy access to a range of payment options, from three interest-free instalments to 30 monthly payments. The payment options also include special promotions, such as 90-day deferment, lump-sum interest payments and free credit. Cardholders are also eligible for reductions of up to 20 per cent on furniture, home decor, linen and tableware, 15 per cent off van rental from Europcar, plus a mobile phone with one month of free calls from Télé 2, a telephone operator. Mandarine is packed with perks, from exclusive offers to priority processing of over-the-phone orders. Customers can also take out insurance to provide cover if articles are stolen or accidentally damaged or to meet monthly payments in the event of illness or job-loss.

Easier than ever to sign up
"We even wanted to introduce one-off loans for La Maison de Valérie customers who are non-cardholders," says Nicolas Denis, head of Finaref Partner Brand Marketing. Naturally, customers will enjoy the same credit terms as they did before Mandarine’s launch. And if they want to sign up for a card, nothing could be simpler. They can apply for a card quickly and easily by calling, writing or by ticking the appropriate box when reviewing their online shopping basket. The new card takes all the hassle out of home furnishing.

La Maison de Valérie has a style for every taste
Ever since it was created 30 years ago, La Maison de Valérie has specialised in mail-order sales of home furnishings. The company’s initial success was founded on its motto: "We have products you won’t find anywhere else." Today, the Blois-based firm, which employs a staff of 380, is responding to new patterns of consumption among its client base and is continuing to innovate. For example, it is the only mail-order business that organises its catalogues by lifestyle - with categories like Eastern, Urban and Country Living - rather than by product range. La Maison de Valérie has also broadened its products and services over the years and now reports annual sales of €150 million on no fewer than 4,800 items, which are more or less evenly divided between furnishings and appliances. To view La Maison de Valérie’s catalogue, visit www.lamaisondevalerie.com.

La Redoute and Finaref launch Kangourou Plus
Using segmentation techniques to build loyalty.
Three years ago, La Redoute and Finaref began an in-depth analysis to examine consumption patterns and expectations among their best customers, with a view to addressing their concerns as consumers as effectively as possible. The approach involves segmenting and cross-referencing the two companies’ customer databases so that the best customers can be offered made-to-measure services via a store card. The result of this work is the Kangourou Plus card, which was released late October 2006. Intended for the very best customers of La Redoute and Finaref, Kangourou Plus offers preferred services to consumers in this segment.

Customer benefits of the Kangourou Plus card
Kangourou Plus cardholders enjoy the remote-purchase advantages offered by La Redoute. For example, the company will refund customers within 48 hours if they return an article to a La Redoute sales outlet. If an electrical or electronic appliance breaks down, customers are loaned a replacement free of charge (except for multimedia products). Also, when a Kangourou Plus cardholder opts for an extended warranty, they are offered an extra year of coverage. They are also eligible for special financing offers proposed by Finaref to provide added repayment flexibility. And they can make payments online using their Kangourou account. "One of the main aims of this project was to add to - without complicating - the range of store card services," explains Philippe Lavaurd, La Redoute brand manager for Finaref, and adds: "This relational investment reflects the expectations of La Redoute’s best customers. The Kangourou Plus card is designed to enhance their brand loyalty".

A pilot scheme with big ambitions
This latest addition to the Finaref range was initially sent to 30,000 La Redoute customers who already hold the traditional Kangourou card. The loyalty of these preferred customers will be measured over the course of 2007 to fine-tune the policy (addition of new Redoute/Finaref products and services) and make it a core component of La Redoute’s and Finaref’s customer relations system. For an even more personalised approach, Finaref is working to market Kangourou Plus offers based on the channel selected by the customer, with special focus on the web channel. Says Philippe Lavaurd: "With its expertise in store cards, Finaref should strive to suggest new initiatives to its partner and support it as its market evolves. As a loyalty building instrument, the Kangourou Plus card is clearly just one step in the strategy of differentiating our card services". Watch this space...

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