Alliance Data Systems' Ohio-based card services business has agreed to acquire the existing co-brand credit card portfolio of the US-based e-commerce retailer Williams-Sonoma.
According to Alliance Data, the acquisition of the Williams-Sonoma’s credit card portfolio will be consistent with its overall co-brand credit card portfolio, and all new co-brand and private label credit card accounts will be consistent with its credit quality standards.
The transaction is likely to be concluded by the end of the third quarter of 2016.
Additionally, Alliance Data has signed an agreement with Williams-Sonoma to offer private label and co-brand credit card services for its portfolio of brands.
Alliance Data also manages the credit card programmes for Williams-Sonoma’s home and kitchen furnishings brands Pottery Barn and West Elm.
Williams-Sonoma president Janet Hayes said: “We look forward to working with Alliance Data to build a comprehensive credit card programme that bolsters our ongoing efforts to foster strong, long-term relationships with our customers and provide meaningful rewards as they pursue their home and culinary aspirations.
“Leveraging Alliance Data's loyalty and marketing expertise, paired with our high standard of customer service, we're confident our new credit card programme will provide a value proposition that is unparalleled in the home and lifestyle category."