Consumer Payment Card News

Mondi Card

German-based upscale women’s apparel manufacturer MONDI announced Friday its U.S. retailing arm Mondi of America is introducing a private label card from New Jersey-based Shoppers Charge Accounts Company (Hudson Bank). The Mondi/SCA cards will be available at 46 Mondi stores located in 24 states.

FULL STORY:
Following initial testing, Mondi of America, the U.S. retailing arm of Munich-based upscale women’s apparel manufacturer MONDI, is going chainwide with a private label credit card program from Shoppers Charge Accounts Co. (SCA), of Mahwah, N.J.

For MONDI the introduction of the card is the first in a series of marketing programs in place to heighten brand awareness as the company celebrates its 30th anniversary as a retailer this year. SCA started up the charge program for MONDI and will administer it on an ongoing basis.

The new charge cards will be available at 46 Mondi stores operated by the Secaucus, N.J.-based company. MONDI operates stores in 24 states, including Hawaii, maintaining prominent addresses in exclusive retail areas, such as Bal Harbour, Worth Avenue, Rodeo Drive, Palm Desert, Michigan Avenue, Manhasset, and Short Hills, among others. Mondi also operates stores in Canada, Europe and the Far East. MONDI was purchased by INVESTCORP in 1993, joining such other luxury-goods retail holdings as GUCCI, Ebel, Chaumet, and Tiffany & Co.

Response to the market test-run of the new credit card was stronger than expected. “We are extremely happy with the results and we are going ahead full force with a national distribution,” said Yazmet Colon de Clarke, President of MONDI. “I anticipate that we will develop a new customer due to the exclusive nature of a private label card, and our loyal customers have reacted positively, commenting that they now feel closer to us as a brand. A store card implies an even stronger sense of service and commitment on the part of the retailer.”

Servicing chain and independent retailers nationwide, SCA acquires retailers’ receivables or will develop private label credit programs for merchants who currently don’t have a program in place. In both situations, SCA will assume responsibility for generating customer billing statements; managing credit, collection and lockbox functions; creating customized marketing programs, and monitoring applicable state and federal regulations.

SCA is one of the nation’s largest private label credit card companies. The firm is a division of the Hudson United Bank subsidiary of HUBCO (Nasdaq: HUBC), a N.J.-based bank company. The bank, after pending acquisitions, will operate a total of 85 branches in New Jersey and Connecticut with assets exceeding $3 billion.

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