Other Interests
On 10 June 2008 Wal-Mart announced that it has agreed to sell Gazeley Limited Group, the property development subsidiary of Asda, to Economic Zones World (EZW), a Dubai World company. Gazeley is involved in the development of distribution warehousing in the UK, mainland Europe and China and has extended its operations to India and Mexico. Its customers include many of the world's leading companies, third-party logistics providers, original equipment manufacturers, retailers and their suppliers. Gazeley is also a preferred developer of distribution space for Wal-Mart International, including Asda in the UK and Wal-Mart China.
- Asda Financial Services
Asda has established a financial services division, following in the footsteps of Tesco, Sainsbury's and other retailers. Asda simply attaches its own brand to products provided by other companies. Services they offer include insurance (provided by Norwich Union), credit cards (provided by Grupo Santander) and loans (provided by the Funding Corporation). The Financial Services division of the organisation does not directly sell these services in store and instead uses the supplier of that product by telephone or online/postal application. Until June 2009 selected stores had Credit Card Representatives provided by GE Capital Bank and then Grupo Santander. Marketing and management of Financial Services is co-ordinated in house and many stores have a Financial Services Co-ordinator, responsible for promoting the products and ensuring legal compliance. The Financial Services division is also responsible for Gift Cards, Christmas Saver and Business Rewards.
Read more about this topic: Asda
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