Alliance Data Systems Inc. has agreed to buy the existing private-label credit card portfolio of jewelry retailer Premier Designs.
The financial terms of the deal, which the companies expect to close in the second quarter, were not disclosed. Alliance Data would not identify the seller, and a representative for Premier did not respond to an email.
The size of the portfolio was also not disclosed, though Alliance Data said in a news release the accounts it purchased represented a “modest-size portfolio.”
Based in Irving, Texas, Premier Designs is a direct sales jewelry company that sells its merchandise through a network of individuals rather than in stores. Alliance Data also has signed a long-term agreement to provide private-label credit card services for the independent sellers who work with Premier Designs.
The independent sellers will be able to use the card program to purchase merchandise for displays and as a way to process orders received, Dallas-based Alliance Data said Thursday.
