Citi Retail Services, a private-label credit card issuer, has signed a new multi-year credit card agreement with Brooks Brothers, an apparel brand in the US.
Under the relationship, Citi Retail Services will provide private label and co-branded credit cards for the retailer Brooks Brothers.
The agreement will also see Citi purchasing the existing card portfolio of Brooks Brothers. It is part of Brooks Brothers’ move to transform its growth strategy to ensure continuous innovation and meets changing customer demands.
Citi already has card relationships with a number of retailers, including Best Buy, Volkswagen U.S. and CNH Industrial and Macy’s.
Brooks Brothers has selected Citi as partner to facilitate this transformation, to enhance its omni-channel capabilities and to expand and strengthen customer relationships.
Brooks Brothers CEO Claudio Del Vecchio said: "Our newly formed partnership with Citi and their commitment to innovation and service will help ensure that we continue to put the customer first."
Citi Retail Services managing director for business development and strategy Craig Vallorano said: "This is a significant new relationship for Citi Retail Services and continues our momentum on the heels of several new partnership agreements and renewals."