Capital One Welcomes Jewel
Capital One has acquired Jewel, a Detroit, Michigan-based company whose luxury retail cashback site helps consumers discover new brands and earn cash back when shopping online.
With deep relationships in the luxury retail space and customers nationwide, Jewel is a completely free, digital tool that helps consumers discover new luxury brands, while also helping them earn cash back at the same time.
"Whether they are shopping luxury retailers or everyday brands, consumers want to be able to shop with confidence that they are getting great value," said Walt Roloson, Vice President at Capital One Financial. "Capital One and Jewel have a shared goal of providing simple, straightforward digital tools that can help consumers effortlessly save time and money."
Jewel will remain based in Detroit, with plans to add additional employees over the next year.
"There is an incredible opportunity to bring savings and discovery in the luxury loyalty space," said Andrew Landau, Jewel Co-Founder and CEO in a blog post announcing the news. "By joining the Capital One family, we'll be able to more quickly enhance our offerings to bring even more innovation to the market."
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