Brooks Brothers and Citi Retail Services have inked a new multi-year credit card relationship. As part of the agreement, Citi Retail Services, a unit of the 203-year-old global bank, will provide private label and co-branded credit cards for the nearly 200-year-old retailer.
The transaction included Citi’s acquisition of the existing Brooks Brothers card portfolio.
Citi’s agreement with Brooks Brothers follows new card relationships with Best Buy, Volkswagen U.S. and CNH Industrial as well as seven contract renewals with top retailers, including Macy’s, Inc., since the beginning of 2014.
Citi Retail Services provides consumer and commercial credit card products, both private label and co-branded, to retailers and their clients across North America. The business serves nearly 90 million accounts for a number of iconic brands, including Best Buy, ExxonMobil, Macy’s, Sears, Shell and The Home Depot. In addition to credit services, Citi Retail Services distinguishes itself by offering cutting-edge digital options, multi-channel retailing expertise and industry-leading analytics capabilities that help retailers grow their businesses.
For data, background and forecasts on Citi Retail Services: Search CardWeb.com’s CardFlash® Library of more than 58,000 archived articles; Access CardWeb.com’s CardData® for current and historical Performance, Portfolios, Profiles, etc. Visit RAM Research® (ramresearch.com) for quarterly and annual forecasts covering more than 150 metrics. [complimentary or deeply discounted access to CardWeb.com subscribers].
Additional database resources include CardWeb.com’s CardExecs® – comings & goings of payments movers & shakers; CardWeb.com’s CardWatch® – ears & eyes on marketing globally (57K items); and CardWeb.com’s CardPixes® – form & function of card design (7K items).