Ten Lifestyle Expands Into Scandinavia With New Contract From DNB Bank

LONDON (Alliance News) - Travel and lifestyle platform Ten Lifestyle Group PLC said Tuesday it ...

Alliance News 7 May, 2019 | 11:20AM
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LONDON (Alliance News) - Travel and lifestyle platform Ten Lifestyle Group PLC said Tuesday it has expanded into Scandinavia with a new contract and opening of a new office.

The contract is with Norwegian financial services firm DNB Bank ASA for the provision of concierge services to family office customers, starting from June.

The initial launch is expected to be a small contract, below the value of GBP250,000, but it can grow into a medium-sized contract in the next financial year ending August 2020, with a value in the range of GBP250,000 to GBP2 million, the company said.

In addition, Ten Lifestyle opened last month a new office in Oslo, Norway, where the company is in discussions with several potential clients.

"We are delighted to be expanding into Scandinavia, a new and promising geographic territory for us. The Oslo office will enable us to provide specialist lifestyle and concierge services in Norwegian and Swedish, as well as English, to HNW customers in this very affluent region. I am confident that DNB will prove to be a flagship client for us in the region and we are excited to begin this new partnership," said Chief Executive Officer Alex Cheatle.

Shares in Ten Lifestyle were up 2.6% at 65.67 pence on Tuesday.

By Dayo Laniyan; dayolaniyan@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Ten Lifestyle Group PLC 45.00 GBX -6.64 -

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