Karum Group LLC Partners With Vicky Form to Offer Private Label Credit For Its Customers
Unique distributor of women’s clothing offering flexible payment methods to its customers
February 2010 - Karum Group LLC, a global credit management services company, is implementing credit services for Vicky Form, a provocative and innovative retailer of intimate apparel in Mexico. Karum provides Vicky Form with a seamless, one-stop solution to manage all its private label credit services including processing applications, activating accounts, billing, targeted marketing and collection services. Vicky Form operates 50 retail locations in leading malls and 200 distribution centers and is a portfolio company of Grupo Zaga. As a result of implementing Karum’s services, individuals and small to mid-sized retailers that serve as Vicky Form distributors, can grow the size of their orders by purchasing products on credit.
“We are enthusiastic for the opportunity to provide credit to Vicky Form’s distributors and fans of the brand,” said Peter R. Johnson, Chairman and CEO of Karum. “Vicky Form has built a reputation for creativity through its suggestive marketing, appropriate intimate apparel and innovative business model. In many cases, this is the first opportunity for consumers and distributors to establish credit and Karum is thrilled to associate our credit services with a unique business such as Vicky Form.”
Karum leverages its own credit processing platform to offer tailored, full-service consumer credit offerings including revolving, installment and, when applicable, commercial credit programs. All of which enable Vicky Form to focus on what it does best; manufacturing quality products, supporting its customer base and establishing brand loyalty. In this case, as in others, Karum has invested alongside Grupo Zaga in the Vicky Form portfolio and is providing risk, compliance and portfolio management services.
“In Karum, we recognized a great opportunity to provide an excellent service to our customers through unique credit solutions, “said Jose Zaga, Director General for Vicky Form, “Our distributors are loyal customers who have unique purchase and payment needs. Our private label program, now powered by Karum, offers us the flexibility to cater to these needs in ways that benefits Vicky Form, our distributors and their customers.”
About Karum
Karum provides integrated and cost effective solutions enabling retailers to drive increased revenues and gross margin ROI by offering private label consumer credit services to its customers.
Karum’s customers see private label credit card holders purchasing significantly more than the average cash or bank card customer. Karum offers a turnkey suite of credit management solutions including transaction processing, outsourced credit center capabilities, collection, portfolio management and consulting.
In contrast to banks or traditional transaction processors, Karum’s retail DNA enables the company to offer flexible and cost effective solutions that drive greater sales volume and profitability.
For more information on Karum, please visit www.karum.com.