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Blue Apron Announces Plans For New Co-Branded Credit Card With Aspiration
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Very Positive)
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Rhea-AI Summary
Blue Apron (NYSE:APRN) has announced the launch of the Blue Apron Aspiration Zero Card, a co-branded credit card in partnership with Aspiration aimed at rewarding customers while promoting environmental sustainability. Cardholders will receive cash back on qualifying purchases and contribute to planting trees with every transaction. This initiative is part of Blue Apron's loyalty program, which is expected to enhance customer engagement and provide further benefits in 2022. The collaboration highlights a first-of-its-kind offering in the meal-kit industry.
Positive
Launch of the Blue Apron Aspiration Zero Card to reward customer spending.
Partnership with Aspiration emphasizes sustainability and environmental impact.
Introduction of a unique offering in the meal-kit industry may attract new customers.
Negative
Dependence on consumer demand and behavior changes due to economic conditions.
Execution risks in launching the loyalty program and credit card offering.
Offering Will Be Part of Blue Apron’s New Loyalty Program
NEW YORK--(BUSINESS WIRE)--
Blue Apron (NYSE:APRN) announced today plans for a Blue Apron Aspiration Zero Card, a co-branded credit card created in collaboration with Aspiration, which offers its cardholders rewards to help fight the climate crisis. A first for the meal-kit industry, the Blue Apron Aspiration Zero Card will reward cardmembers on qualifying purchases made at BlueApron.com and on the Blue Apron mobile app, as well as extend benefits currently available to all Aspiration Zero Card customers.
“As we kick off our tenth anniversary in 2022, we want to recognize our best and most loyal customers—some who have been with us since we shipped our first box,” said Dani Simpson, Blue Apron’s Chief Marketing Officer. “Customers who use the Blue Apron Aspiration Zero Card on qualified purchases will receive cash back benefits along with an opportunity to help make a difference in the world around them.”
Aspiration creates its products and services to build climate change-fighting action into cardmembers’ daily routine by making it easy, automated and engaging.
By using the Blue Apron Aspiration Zero Card, customers will be able to offset a part of their carbon footprint. With every qualifying purchase made on a Blue Apron Aspiration Zero Card, Aspiration will plant a tree and let users plant an additional tree by rounding up purchases to the nearest dollar.
“This first-of-its-kind partnership in the meal-kit industry showcases the alignment of the Aspiration and Blue Apron visions,” said Andrei Cherny, Aspiration’s Chief Executive Officer. “We couldn't be happier to partner with Blue Apron around not only rewarding their customers financially, but also helping those customers have a positive and effortless impact on the environment.”
In addition to providing credit card services, Aspiration intends to commit to promote Blue Apron to its customers.
This offering, when launched, will be part of Blue Apron’s new loyalty program as it continues to provide its customers with new, exciting partnerships. Blue Apron is in discussions with additional partners to provide its customers with other benefits and expects to launch other new programs in 2022.
About Blue Apron Blue Apron’s vision is “better living through better food.” Launched in 2012, Blue Apron offers fresh, chef-designed recipes that empower home cooks to embrace their culinary curiosity and challenge their abilities to see what a difference cooking quality food can make in their lives. Through its mission to spark discovery, connection and joy through cooking, Blue Apron continuously focuses on bringing incredible recipes to its customers, while minimizing its carbon footprint, reducing food waste, and promoting diversity and inclusion.
About Aspiration Partners, Inc. Aspiration is a leading platform to help people and businesses put automated sustainable impact into their hands and integrate it into their daily lives. Aspiration Partners, Inc. is a certified B Corp. For more information, visit Aspiration.com or Aspiration.com/business.
Aspiration recently entered into a merger agreement with InterPrivate III Financial Partners Inc. (NYSE:IPVF), a publicly traded special purpose acquisition company, which, upon closing, will result in Aspiration becoming a listed company as a Public Benefit Corporation, building on Aspiration’s existing commitments to generate social and public good and operate in a responsible and sustainable manner.
Forward-Looking Statements
This press release includes statements concerning Blue Apron Holdings, Inc. and its future expectations, plans and prospects that constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. For this purpose, any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements. In some cases, you can identify forward-looking statements by terms such as "may," "should," "expects," "plans," “forecasts,” "anticipates," "could," "intends," "target," "projects," "contemplates," "believes," "estimates," "predicts," "potential," or "continue," or the negative of these terms or other similar expressions. Blue Apron has based these forward-looking statements largely on its current expectations and projections about future events and financial trends that it believes may affect its business, financial condition and results of operations. These forward-looking statements speak only as of the date of this press release and are subject to a number of risks, uncertainties and assumptions including, without limitation, the company’s ability to enter into a definitive agreement relating to the planned co-branded credit card and to launch the co-branded credit card on the contemplated terms, if at all; its ability to launch and expand its new loyalty program, its ability execute on its ESG initiatives, its plans to enter into additional partnerships and implement new customer benefits on the expected timeframe, if at all; the company’s ability, including the timing and extent, to successfully support the acceleration and execution of its growth strategy (including the ability to successfully increase marketing and technology improvements on the company’s planned timeline), cost-effectively attract new customers and retain existing customers, including its ability to sustain any increase in demand resulting from both its growth strategy and the COVID-19 (coronavirus) pandemic, and its ability to continue to expand direct-to-consumer product offerings, and to execute operational efficiency practices; changes in consumer behaviors that could lead to declines in demand, including as the COVID-19 pandemic’s impact on consumer behaviors such as travel and dining out, continues to taper; its ability to maintain and grow the value of its brand and reputation; general changes in consumer tastes and preferences or in consumer spending, including as a result of inflation or other negative economic factors, whether as a result of the COVID-19 pandemic or otherwise; its ability to comply with modified or new laws and regulations applying to its business or the impact that such compliance may have on its business; its ability to obtain and maintain intellectual property protection; and other risks more fully described in the company’s Annual Report on Form 10-K for the year ended December 31, 2020 filed with the SEC on February 23, 2021, the company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2021 filed with the SEC on May 6, 2021, the company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2021 filed with the SEC on August 3, 2021, the company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2021 filed with the SEC on November 9, 2021, and in other filings that the company may make with the SEC in the future. The company assumes no obligation to update any forward-looking statements contained in this press release as a result of new information, future events or otherwise.
