APP.L Regulatory News (APP)

16 May 2017

Park Group plc

("Park" or the "Group")

Park Group Launches Global Reward Capability

Park Group plc, the UK's leading multi-retailer gift voucher and prepaid gift card business focused on the corporate and consumer markets, today announces that its award-winning corporate incentives and rewards division, Love2Shop Business Services, is to start offering a portfolio of digital and physical rewards products to a worldwide audience.

Love2Shop Business Services has entered into a strategic initiative with a leading provider of cloud-based engagement management systems, to form 'Love2Shop Worldwide'. This will enable Park to provide its reward, recognition, benefits and wellbeing services to worldwide employee and customer engagement markets. The new offering will utilise Park Group's technology and expertise, together with comprehensive client support, programme management and enhanced end-customer communications, to ensure a measurable return on investment for corporate clients of all sizes and sectors.

The initiative allows the strategic progression and expansion of Park's UK-based digital reward platform, 'Evolve', which has proved extremely popular since its launch in June 2016. To date, 'Evolve' has already processed nearly £2 million in digital reward value in the UK and quickly attracted 150 blue-chip, household name businesses and organisations, who use the tailored platform to reward and incentivise their own employees and to drive customer acquisition.

Park's 'Evolve' system can now be tailored for certain global markets, allowing electronic reward codes to be exchanged by intended recipients for a vast array of country-specific rewards. These include vouchers, gift cards, physical gifts, holidays, experiences, e-codes, music downloads, e-books and much more.

The new international service will be offered immediately to Park's existing UK corporate clients who have employees and customers overseas, before meeting wider market demand and actively promoting the service in new territories.

Chris Houghton, CEO of Park Group, said, "In line with our stated strategy of new product development, our Evolve system was launched last year and has proved incredibly popular with the UK corporate loyalty and incentive market. This initiative builds on Evolve's success and allows us to offer our capabilities to an even wider audience of potential corporate clients, with minimal costs and risk incurred by ourselves.

"Our goal is to capitalise on Park's existing reputation as a leading reward player in the UK by carefully growing our presence as a provider of these services globally. We will pursue this ambition whilst maintaining the commitment to our customers in the UK and will continue to develop new products which can offer more choice in our home markets."

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