ThinkSmart Extends Dixons Contract to 2017

ThinkSmart Extends Dixons Contract to 2017

  • Existing operating agreement for ThinkSmart’s rental products for UK consumers extended to mid-2017
  • New distribution agreement signed with TeleChoice, a leading mobile phone retailer, for ThinkSmart’s payment plan product, Fido
  • Existing operating agreement with Officeworks extended to mid-2015
  • ThinkSmart reaffirms guidance for a full year profit in 2013

ThinkSmart Limited is pleased to announce that it has extended its contractual relationship with Dixons to mid-2017.

Dixons is the UK’s largest electronic retailer, with high street brands which include Currys and PC World, and has worked in partnership with ThinkSmart since 2003. The majority of ThinkSmart’s UK rental business volumes originate in a Currys or PC World store.

The extension relates to the Infinity product, a consumer rental product, which has been offered exclusively in Dixons stores since October 2010. Sales of the Infinity product have been an important contributor to the success of the UK business, which reported record results in 2012 with profit contribution up 26% on 2011.

From the end of May, the Infinity product will be enhanced to further improve the offering to customers. Changes to the product, which include a lower customer rate, are expected to further drive increased new business volumes.

“Dixons is a valued partner and we are very pleased to again extend this relationship” said ThinkSmart Executive Chairman and CEO, Ned Montarello.

“ThinkSmart and Dixons share a focus on providing innovative and compelling products to customers. Volumes have risen strongly since Infinity’s launch over two years ago and today’s announcement reaffirms both the success of the product and the strength of the partnership.”

ThinkSmart is also pleased to announce a new distribution deal for its “no interest ever” product, Fido, with TeleChoice, a leading provider of mobile phone, internet and telecommunications products. Fido is now available as the exclusive payment plan product in TeleChoice’s 139 Australian retail stores.

ThinkSmart has also extended its existing 15 year relationship with Officeworks for ThinkSmart’s rental product, RentSmart, to 2015.

ThinkSmart reaffirms its guidance for the 2013 year of significant double digit growth in new business volumes and for a return to full year profit.

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