Companies that failed to respond to changes in technology and consumer preferences adequately have struggled to keep customers as well as generate meaningful revenue. One example is, American Express Co., a renowned global leader in financial services around the globe. It is famous for its credit cards, charge cards, and traveler cheque business. It prided itself of providing services to renowned firms and consumers. As it embarks on reclaiming its position in the business world, the company is focused on regaining its customers and also attracting millennials.
Christopher Burch was among the loyal customers of AmEx. The well-known entrepreneur has used AmEx’s cards for over three decades. However, he switched a significant portion of his spending to another card, the J.P. Morgan Chase & Co.’s Sapphire Reserve card, which was recommended by his employees. According to Mr. Burch, whose investments cut across technology, hospitality, finance, and retail, the AmEx card services could not help him secure services in various places such as restaurants. Burch says that he only received a form letter from AmEx after writing an email to the former Chief Executive Kenneth Chenault.
The new AmEx Chairman and CEO, Stephen Squeri, believes that one of the challenges in turning around the company is regaining customers like Mr. Burch. Some of these customers switched to other companies with better services and incentives. Squeri is also committed to attracting millennials who represent a shift in customer preferences and needs. The company has lost a significant portion of its market share to competitors like Visa Inc. However, the former chief, Mr. Chenault believes that he endeavored to steer the company through the rough times it has experienced during his tenure. Additional article here.
Mr. Burch is a talented as well as experienced investor and entrepreneur. He founded Burch Creative Capital, whose brand portfolio includes enterprises spanning a wide range of businesses. Burch’s investment philosophy is anchored on sound financial management, creativity, and linking innovation with impact. He believes in the power of branding and smart marketing and sales practices. For updates on his new and follow on investment, check on prnewswire.com
Mr. Burch’s interest in business started while still in college. According to bjtonline.com, he launched Eagle’s Eye apparel, a company dealing in the sale of sweaters to students. The venture, which began with a capital of $2000, was a partnership with his brother. They later sold it for over $60 million. From this humble beginning and unique approach, he has built an empire with interests in over fifty companies. For contact details, head over to burchcreativecapital.com.
Have a glimpse to his awesome investment on http://www.businessinsider.com/chris-burch-nihi-best-hotel-in-the-world-2017-7