Ifeelgoods and ITOCHU’s 1 Billion Dollar Plan

Ifeelgoods and ITOCHU’s 1 Billion Dollar Plan

Ifeelgoods and ITOCHU Corporation (TYO:8001) announce a 1 Billion dollar plan to take on the B2B gifting market in Asia.

One of the Japanese largest conglomerates ITOCHU signs an agreement to license Ifeelgoods’ leading digital rewards platform and generate $1 billion gross revenues within 3 years in Asian markets.

Palo Alto, June 18th, 2015 5:00 am PST: Ifeelgoods, the leading digital rewards platform, is announcing an exclusive strategic licensing partnership with ITOCHU (TYO:8001), a Fortune Global 200 company with total revenues over US $55 billion.

ITOCHU Corporation is a major industrial conglomerate which owns one of the largest Japanese convenience retail chains: FamilyMart. Through sales from over 11,000 FamilyMart outlets in Japan, ITOCHU has experienced the tremendous growth of gift card distribution especially for digital content products (In 2013, Japan surpassed the United States to become the #1 market in app revenue for iOS & Android combined*).

Following this incredible success as a gift card retailer, ITOCHU wanted to take it to the next level through the Ifeelgoods partnership to penetrate and own the B2B digital rewards market.

Similar to licensing deals ITOCHU has set up with other leading US technology companies such as Box and Skype, ITOCHU will get exclusive access to the Ifeelgoods digital rewards platform in the Japanese market (ifeelgoods.jp). The companies are discussing plans to extend their collaboration to other Asian markets in the second half of the year. Through this partnership, ITOCHU expects to generate $1 billion gross revenues within 3 years in Japan and Asian markets, by servicing B2B clients in the advertising, airline, automotive, financial services, retail and telecommunications sectors; which will reach an aggregated numbers of tens of millions of consumers.

From now on, ITOCHU will leverage the Ifeelgoods platform to power all types of digital rewards campaigns such as employee recognition, loyalty programs and marketing promotions in Japan and allow for:

  •  Acceleration of campaign launch timelines through Ifeelgoods’ pre-built modules which enable campaigns to be set up in minutes compared to months with traditional solutions
  • Creation of new distribution channels for digital rewards through built in integrations with third party applications and ecosystems such as Zendesk and Salesforce
  • Optimization of resources and business objectives with best in class back office tools such as reporting, fraud prevention, inventory management, analytics and customer support.

Rewards catalog includes a variety of global and local popular online and retail brands.

Digital goods are becoming increasingly popular in Japan, that’s why more and more brands are using them as rewards to acquire, engage and retain their target user base. Thanks to our partnership with Ifeelgoods, we will be able to provide our customers with the best technology to seamlessly execute rewards programs and campaigns in Japan at scale.” says Yoshihiko Itoh, ITOCHU’s General Manager, Information Technology Business Department, ICT Division, ICT, General Products & Realty Company.

Our partnership with ITOCHU is a great milestone for Ifeelgoods as well as an unprecedented step forward for the rewards industry. For the first time ever, one single platform – embraced by one of the largest industrial conglomerates in the world – will power all types of rewards campaigns and programs to meet the fast-growing demand in Japan.” says Michael Amar, Ifeelgoods’ CEO & Co-founder.

This marks the first milestone in a major roadmap of distribution deals with leading organizations worldwide to be announced soon.

*App Annie

About Ifeelgoods
Ifeelgoods’ turnkey platform enables companies to set up, launch and monitor rewards promotions and programs within minutes. It helps companies achieve multiple business objectives: customer acquisition, retention, engagement, employee motivation and more. End-users can directly receive rewards from 100+ integrated apps including Mailchimp, Salesforce, SurveyMonkey, Paypal and Zendesk. Gifts delivered come from Ifeelgoods’ 100,000+ rewards catalog with content that ranges from movies, songs, games, apps, newspaper subscriptions, and gift cards.

The Ifeelgoods platform has delivered 30+ million rewards across industries worldwide and has powered campaigns for 300 leading brands such as Walmart, GAP and L’Oréal.

Learn more: http://www.ifeelgoods.com/

The history of ITOCHU Corporation dates back to 1858 when the Company’s founder Chubei Itoh commenced linen trading operations. Since then, ITOCHU has evolved and grown over 150 years.
With approximately 130 bases in 65 countries, ITOCHU, one of the leading sogo shosha, is engaging in domestic trading, import/export, and overseas trading of various products such as textile, machinery, metals, minerals, energy, chemicals, food, information and communications technology, realty, general products, insurance, logistics services, construction, and finance, as well as business investment in Japan and overseas.

Learn more: http://www.itochu.co.jp/en/