Citi Retail Services and Brooks Brothers Extend Consumer Credit Card Relationship

Rhea-AI Summary

Brooks Brothers and Citi Retail Services have announced a multi-year extension of their consumer credit card partnership, initially established in 2015. This renewal aims to enhance omnichannel engagement and strengthen customer relationships. Brooks Brothers CEO, Ken Ohashi, noted that the partnership has been vital for growth in their payment offerings. Citi's Business Head, Leslie McNamara, emphasized their shared commitment to innovation in creating next-gen commerce solutions. This agreement reflects a strategic collaboration between two established American brands.

Positive

• Multi-year renewal of consumer credit card partnership enhances customer engagement.
• Collaboration has been beneficial since its inception in 2015, driving significant growth in payments offerings.
• Commitment to innovation in omnichannel strategies aligns with market trends.

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• None.

Multi-Year Agreement Renews Partnership in Shared Drive to Innovate and Power Omnichannel Payments Offerings

NEW YORK & CHICAGO--(BUSINESS WIRE)-- Brooks Brothers, the country’s oldest clothing retailer, and Citi Retail Services, one of North America's largest and most experienced retail credit solution providers, announced today a multi-year extension of their consumer credit card relationship.

The agreement helps to strengthen the bond between the two iconic American brands and marks a continued alignment of goals, including a steadfast commitment to driving omnichannel engagement and building multi-generational customer relationships.

“Since 2015, Citi Retail Services has been a valued partner in powering the growth of our payments offerings – especially as we’ve expanded our omnichannel offerings,” said Brooks Brothers CEO, Ken Ohashi “As we further transform for the future, we believe that this renewal will enable us to expand our vision of what is possible for cardmembers and valued customers.”

“We are excited to announce a multi-year renewal of our credit card partnership with Brooks Brothers,” said Leslie McNamara, Business Head, Partner Management, Citi Retail Services. “This agreement signifies our shared commitment to innovation and creating next-gen commerce solutions that will drive growth and engagement within an increasingly interconnected physical and digital landscape.”

Citi
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.

Additional information may be found at www.citigroup.com | Twitter: @Citi | YouTube: www.youtube.com/citi | Blog: http://blog.citigroup.com | Facebook: www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi.

Brooks Brothers
Established in 1818, Brooks Brothers was the first American brand to offer ready-to-wear clothing and has continued throughout history with iconic product introductions including: seersucker, madras, argyle, the first successful non-iron shirt and the original button-down collar. More than two centuries later, Brooks Brothers is proud to uphold the same traditions and values and to be the destination for ladies and gentlemen from every generation. Since its founding 203 years ago in New York, Brooks Brothers has become a legendary international retailer while maintaining a steadfast commitment to exceptional service, quality, style and innovation.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220128005056/en/

Media

Citi

Elana Rueven

Elana.Rueven@Citi.com

Brooks Brothers

Arthur Wayne

AWayne@brooksbrothers.com

Source: Citi

FAQ

What is the significance of the Brooks Brothers and Citi partnership renewal in 2023?

The renewal enhances omnichannel engagement and strengthens customer relationships, marking continued collaboration since 2015.

How long is the renewed partnership between Brooks Brothers and Citi?

The partnership has been extended for multiple years.

What are the goals of the renewed agreement between Brooks Brothers and Citi?

The agreement aims to drive innovation and growth in omnichannel payment offerings.

Who commented on the renewal of the partnership between Brooks Brothers and Citi?

Brooks Brothers CEO Ken Ohashi and Citi's Leslie McNamara expressed their enthusiasm for the renewed collaboration.