Ten Lifestyle Group shares (LON:TENG) rallied on Thursday morning after the company announced it had secured a contract with ICBC Private Banking Department.
The company said the service is to commence in January next year as a small contract, however, it is expected to expand to a medium contract in due course.
According to the statement, Ten Lifestyle Group categorise ‘small’ contracts as anything below £250,000, with ‘medium’ anything between £250,000 and £2 million.
A spokesperson for ICBC Private Banking Department commented:
“After a competitive tender we were happy to appoint Ten Lifestyle Group plc as a premium travel and lifestyle concierge partner. We were impressed by the team we met, their digital platform and their global reach. We hope this is the start of a strong partnership in China.”
Andrew Long, CEO Asia Pacific, Ten Lifestyle Group plc, said;
“We are honoured to have been chosen by ICBC to support their most valuable clients in China and thrilled to be working with the world’s largest bank. We see this as a fantastic opportunity to grow our already sizeable operation in mainland China”
Ten Lifestyle Group is a luxury travel and lifestyle concierge service.
The firm was founded back in 1998. It has been listed on the AIM-market of the London Stock Exchange as of November 2017.
Alongside its head office in London, the company has 20 international offices.
Some of its current clients include Cartier, Barclays, Coutts and Citi.
Shares in Ten Lifestyle Group are currently +13.50% as of 11:01AM (GMT).
