Indianapolis, Ind.-based Simon is the largest public real estate company in the U.S., with 380 retail properties in its stable. The Simon American Express Giftcard will be available this holiday season at four Florida-based shopping centers: Miami International Mall, Dadeland Mall, Florida Mall of Orlando, and Town Center at Boca Raton. The distribution will spread to 25 centers across the country in 2008. It is an open-system card, meaning it can be used at a number of different locations; in this case, any store that accepts American Express.
American Express spokesperson Robert Sherman says the phased implementation strategy is by design to make sure that customers have the best experience with the card possible. "We are very excited to be entering into a relationship with such a premium retail company as Simon," he adds.
A leader in gift card sales, American Express has pioneered national and local distribution channels at pharmacies, banks and supermarkets nationwide, including Walgreen's, CVS, Safeway and Citibank, among numerous others. The company has partnered with shopping mall properties since 2002, Sherman says.
"We are excited to team up with American Express to create a gift card product that will be of particular appeal to our affluent customer and will complement our existing arsenal of popular prepaid options," says Stewart A. Stockdale, Simon's CMO/president of Simon Brand Ventures, the company's business-to-consumer arm, in a statement.
The card, which will bear the Simon and American Express logos, will be available in any denomination from $20 to $500. If it is lost or stolen, the unused balance can be refunded or replaced. The Simon American Express Giftcard may be used at U.S. retailers and restaurants that accept the American Express Card.
Simon will handle marketing of the card, most likely through in-mall promotions and signage, Sherman says. The cards will be available at the mall's customer service desks, he adds.