Alex Cheatle, founder and CEO of global concierge service Ten Lifestyle (TENG ), tells Vox how years of relationship building, technology development and global expansion has laid the foundation for rapid profit growth as it delivers lifestyle services to its corporate partners ever-wealthier clients.
0:40 Introducing Ten Lifestyle and the ‘trusted service provider’ business model, offering personal services to high-net-worth customers of banks and wealth managers.
2:32 The mixture of advanced technology and personal service and relationship building that powers the business.
4:20 How the business proved resilient through out the pandemic despite exposure to travel and leisure.
5:48 Looking at the numbers and what’s driven growth, and seen revenues surpass pre-Covid levels.
7:25 The growth split between existing corporate partners and rising membership activity, and the addition of contracts with new corporate partners.
8:44 The effect of operational gearing now the group has hit a scale inflection point.
11:08 The importance of being a global business, and how the four focus areas – travel, events, food and retail – scale globally.
12:28 Further investment in technology and the proposition.
15:01 The resilience of Ten Lifestyle’s target demographic, and the resulting financial strength of its corporate partners.
17:15 New contract opportunities.
Q&A with Ten Lifestyle: “We have hit a step change in the business”
May 3, 2023Disclaimer & Declaration of Interest
The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.