AmEx’s Next Move: Get Millennials, Keep the Rich.
Future American Express CEO Stephen Squeri is looking forward to retrieving AmEx’s glory among the new generation, millennial as we like to call them and it’s already existent clients who have experienced swaying by banks, offering better perks and services such as the PayPal Holdings Inc.
AmEx has lost essential and loyal clients such as Chris Burch, who is the founder of Burch Creative Capital which deals with branding and contains portfolios of ED by Ellen DeGeneres, Cocoon 9 and Nihiwatu; just to name a few. In addition to this, Chris Burch made the Forbes list of the Wealthiest American in 2014.
He confessed that he has been using AmEx since 1979. The loss of such clients by AmEx was just one of the blows as Costco Wholesale Corp and JetBlue Airways Corp also left the roster that provided perks to AmEx clients in 2015.
Among the reasons that Chris Burch left AmEx was that the company was unable to save him tables at several high-end New York City restaurants and hotel upgrades ceased to exist. Once his employees suggested that he move to Sapphire Reserve Card, he did so immediately, and since then he has never looked back.
Chris Burch is an investor in numerous industries such as hospitality, technology, and real estate. Hop over to burchcreativecapital.com to read more of the diversity of his business investments. He is famous for renovating Nihiwatu, a luxury resort on the Indonesian Island of Sumba and in the development of luxury homes in Nantucket, Palm Beach, Florida, and South Hampton. Check architecturaldigest.com for a related article. Similarly, he is well-known for being the co-founder of Tory Burch, a luxury fashion brand. More to read on bjtonline.com.
The current CEO of American Express, Mr. Kenneth Chennault, promises that AmEx is just going through a rough stretch and that someone is trying to plummet it down the drain. He encourages current and prospective clients that the company will rise again, bigger and better. Well, we cannot wait to see what AmEx has in store for us. A note-worthy article here.
More of the billionaire’s view on business related matters here https://www.entrepreneur.com/article/222766