Cash Converters has confirmed it is going to market in search of a new strategic and creative partner to see them through a critical new phase of the business. The nationally listed company are hoping to have the process complete in the next few months. The decision ends a four-year relationship with Rare.
Says Nerida Collins, chief customer officer, Cash Converters: “We play an important and very specific role for our customers and community, and this has never been more clear than in recent times with an ever-changing economic and social environment. With a strong senior management team and business strategy in place it is timely for us to review our partners and identify those that can support the growth mentality of the business.
“We are at a critical point as a brand and business and our response to this environment and how we go about handling the current challenges will determine the long-term trajectory and success of our business. With our store network re-engaged and franchisees on board, it is vital that we have alongside us a collection of partners that, we believe, will help us prevail.”
“We want to thank the team at Rare for their support and contribution over the past four years, they have delivered great work throughout the entire journey. Most recently, the work on our new brand model and platform has set us up internally and externally and will support the business as we push forward with our strategic priorities. We wish Callum and his team all the very best for the future.”
Says Callum Mackenzie, managing director, Rare:“It’s been a roller coaster four years in which we’ve overcome many business challenges together. Highlights have included the highly visual ‘GetSorted’ Personal Finance campaign which attracted new customers to the brand and more recently the ’Life Made Possible’ creative campaign – shot and produced during the height of WA’s COVID shutdown in 2020.
“We look forward to watching their journey ahead. We are proud of what has been achieved and will be there should we be needed again in the future.”
In terms of the process, Cash Converters has advised that it will be communicating with identified potential partners over the coming weeks and the process will be fair and equitable to all involved. Media is not currently included in the review process.