Ten Lifestyle Group - another contract win, but can it ever make money?
Ten Lifestyle Group, a ‘lifestyle and travel platform for the world's wealthy and mass affluent’ was a previous winner of our 'bonkers valuation of the week' . The latest contract win looks interesting, however, after more than 20 years in business, we remain puzzled how this business can ever generate meaningful profits and cash. A profitable peer supporting a very different clientele seems to be doing fine.
- IPO valuation Ten Lifestyle Group (AIM:TENG) was founded in 1998 and focuses predominantly on a corporate client model that includes private banks, retail banks, premium payment cards providers and luxury brands that provide Ten’s services to segments of their premium individual customers, who then become Ten members. Ten assists its members to discover, organise and book travel, dining and live entertainment, seeking to save them both time and money. Through Ten’s service proposition, members can apparently achieve superior access, experiences and outcomes, more cost-effectively and conveniently, than they could have achieved on their own. Ten’s service is delivered through…