After becoming one of the most widely sold gift cards in the Netherlands over the past seven years, fashioncheque launched in Germany and Switzerland at the end of October 2015.
The United Kingdom, Ireland and Spain are set to follow next year. Stephan Tieleman, founder and CEO of fashioncheque, said: 'The secret of fashioncheque is the excellent retail network that we have established over the past years. These good relations give us the stability now to expand quickly across the rest of Europe'.
fashioncheque is sold in Germany through outlets including supermarket chain Rewe/Penny (5,500 outlets) and is usable for purchase at shops including high-profile names like GALERIA Kaufhof and Hunkemöller. Sales in Switzerland are underway through the Swiss Postal Service (1,600 outlets) and fashioncheque is usable there at names including Vögele and Esprit, to name a few.
In order to comply with European regulatory standards, operating in several European countries, fashioncheque has partnered with the German bank biw AG. Björn Jüngerkes, Head of Business Development at biw AG, adds: ‘We are happy to support fashioncheque and its innovative business model throughout Europe, with our white-label e-money services. The business model has great potential for fashion shops and their clients.’
In recent years fashioncheque has demonstrated that it contributes very significantly to the sales of many fashion shops (including internationally operating ones) in the Netherlands. The international rollout means fashioncheque will be usable as a cross-border gift card in the European fashion market, which is worth many hundreds of billions of euros.
Tieleman: 'Our wish has always been to benefit internationally from the innovative IT platform underlying fashioncheque. Thanks to the extensive experience we have acquired in our home market, we are going forward confidently into Europe'.
fashioncheque is a fashion gift card that was launched in the Dutch market in 2008. fashioncheque currently has more than 20,000 connected partners (points of sale and acceptance points, both off- and on-line) throughout Europe.
About biw AG
Under the brand name fashionchequebank, biw Bank für Investments und Wertpapiere AG (biw AG) issues electronic money for the products of fashioncheque Holding. As an approved credit institution, biw AG is part of FinTech Group AG and is under the supervision of the German FederalFinancialSupervisoryAuthority (BaFin). biw AG is a member of the Association of German Banks (Bundesverband deutscher Banken e.V.) and the Deposit Protection Fund of the Association of German Banks (Einlagensicherungsfonds des Bundesverbandes deutscher Banken e.V.).