AnyCard, Lifestyle, and Savvy merge into Norell to chase $1.5T gift card market
What's the deal? Three gift card and rewards businesses — AnyCardDealroom has a profile for this one. Try Dealroom →, LifestyleDealroom has a profile for this one. Try Dealroom →, and Savvy — are combining into a new global group called NorellDealroom has a profile for this one. Try Dealroom →, backed by Codex CapitalDealroom has a profile for this one. Try Dealroom → and the founding businesses' existing investors. The combined group generates more than £100 million in revenue. Deal terms were not disclosed.
What does each company do? Lifestyle, an early UK pioneer of multi-brand gift cards, lets consumers and corporate clients give and redeem gifts, rewards, and experiences across more than 750 brand partners. AnyCard and Savvy add processing, international retail distribution, and product innovation.
What changes? Each brand keeps its own identity, market focus, and team while operating under the Norell parent. Customers continue working with the brands they know, now with wider international reach.
By the numbers: Collectively, the businesses serve more than 2,000 corporate clients in partnership with over 1,300 brands. They have processed over $8 billion in card value across more than 45 countries and 33 currencies.
Why now? The agreement lands in a global gift card, reward, and incentive market valued at $1.5 trillion in 2026 and projected to hit $2.2 trillion by 2034. "Customers want simpler access to a wide range of products and services, at home and abroad, in a market that remains fragmented," said Alex Barseghian, group chief executive officer of Norell.
What's the endgame? New investment from Codex Capital is meant to accelerate each business's strategy through enhanced technology, content, and service capabilities across international markets. Barseghian said the structure puts "the scale, investment and reach of the group behind each of our brands."
The signal: Gift cards are increasingly used beyond traditional gifting, with businesses turning to stored-value tools to reward and retain employees and customers. "The stored value payments market is evolving rapidly," said Jamie Lawson-Brown of Codex Capital, pointing to "large, growing markets in the UK and internationally." Consolidating fragmented specialists into a single group is a bet that scale wins in a sprawling, multi-trillion-dollar category.
Read more: businesswire.com
Image credit: Generated with Gemini
