REG - Ten Lifestyle Group - Ten wins new contract in Japan

Ten LifestyleAnnouncement

18/01/2022 07:05

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RNS Number : 7354Y  Ten Lifestyle Group PLC  18 January 2022

18 January 2022

Ten Lifestyle Group plc

("Ten" or the "Group")

Ten wins new contract in Japan

 

Ten Lifestyle Group plc (AIM: TENG), a leading technology-enabled, global
concierge platform for the world's wealthy and mass affluent, is pleased to
announce it has won a contract with one of Japan's largest wealth management
businesses.

 

The new, multi-year contract will see Ten's digitally-enabled concierge
services being made available for the first time to the new corporate client's
high-net-worth wealth management customers during this financial year. The
contract is expected initially to be Small(1), with the potential to grow into
a Medium contract during the next financial year.

 

This new contract is incorporated within the Group's existing growth plan.

 

Alex Cheatle, CEO of Ten Lifestyle Group, said:

"I am delighted that one of Japan's largest wealth managers is the latest
major financial services business in the country to be offering Ten's
digitally-enabled concierge service to their most valued customers.

Since establishing an office over ten years ago, Ten has grown to scale in
Japan, the home to the third largest population of millionaires(2 )and one of
the Group's key markets in the APAC region. This new contract will further
strengthen Ten's business in Japan, where we expect activity to increase as
the country emerges from the pandemic."

 

(1)( )Ten categorises its corporate client contracts based on the annualised
value paid, or expected to be paid, by the corporate client for the provision
of concierge and related services by Ten as: Small contracts (below £0.25m);
Medium contracts (between £0.25m and £2m); Large contracts (between £2m and
£5m); and Extra Large contracts (over £5m). This does not include the
revenue generated from suppliers through the provision of concierge services.

 

(2 )Global Wealth Databook 2021, Credit Suisse. Retrieved June 24, 2021.

 

- End -

 

For further information, please visit https://www.tenlifestylegroup.com/
(https://www.tenlifestylegroup.com/)  or contact:

 

 Ten Lifestyle Group Plc                       +44 (0)20 7850 2796

 Alex Cheatle, Chief Executive Officer

 Alan Donald, Chief Financial Officer

 Peel Hunt LLP, Nominated Advisor and Broker   +44 (0) 20 7418 8900

 Edward Knight

 Paul Gillam

 James Smith

Notes to Editors:

About Ten Lifestyle Group Plc

Ten Lifestyle Group plc (http://www.tenlifestylegroup.com)  is a leading
technology-enabled, global concierge platform, helping wealthy and mass
affluent individuals and their families to discover, organise, and enjoy
dining, live entertainment, travel and premium retail (and other relevant
services) with better results and more quickly than they could themselves.
Many of the world's leading brands pay Ten to support their most valued
customers.

Underpinned by industry-first technology, Ten provides its trusted concierge
services to millions of members, in over 15 languages, 24/7, 365 days a year,
wherever they are in the world. Founded in 1998, the business listed on the
AIM market of the London Stock Exchange in November 2017 (AIM: TENG).

The growth engine at the heart of Ten's business model is the driving force
behind its progress towards its objective to become the most trusted service
platform in the world.

For further information please go to: www.tenlifestylegroup.com
(http://www.tenlifestylegroup.com/) .

 

 

 

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