STAMFORD, Conn.--(BUSINESS WIRE)--Aug. 26, 2003--GE Consumer Finance announced today that it has signed a three-year extension of its agreement with Brooks Brothers, a leading American retailer of upscale men's and women's clothing currently celebrating its 185th anniversary, to continue to provide private label credit card services for consumers.
We're thrilled to continue building on the five-year relationship we've developed with the Brooks Brothers team, said Mark Begor, president and chief executive officer of GE Consumer Finance -Americas. It's an exciting opportunity for us to enhance the success of this icon brand and the existing private label program by developing new financing products and programs.
The Brooks Brothers credit card plays an important role for our business and our customers because it enables them to conveniently shop in our stores, online, or via the catalog, said Mark Shulman, Chief Operating Officer, Retail Brand Alliance. By extending our relationship with GE Consumer Finance, Brooks Brothers can continue to provide access to credit that helps our customers create a quality wardrobe that fits their career and lifestyle.
The contract extension includes the following special benefits: 10% savings on the first purchase; e-capabilities to view card balance and purchase activity; no annul fee; pre-sale notification; and exclusive cardmember events.
Under the agreement, GE Consumer Finance will continue to manage account processing, sales authorizations, financing, credit card and billing statement production, payment processing, customer service, collections, risk management and marketing support for Brooks Brothers' private label credit card and existing portfolio of accounts.
About Brooks Brothers
Brooks Brothers was founded in New York City in 1818. A wholly owned subsidiary of Retail Brand Alliance, Brooks Brothers operates 158 stores in the United States, and sells its merchandise in more than 90 locations in Japan, Hong Kong, Taiwan, and Italy. In addition, Brooks Brothers operates a direct mail business and www.brooksbrothers.com, one of the top 10 apparel Web sites.
About GE Consumer Finance
GE Consumer Finance, a unit of General Electric Company, with $95 billion in assets, is a leading provider of credit services to consumers, retailers and auto dealers in 37 countries around the world. GE Consumer Finance, based in Stamford, Conn. (USA), offers a range of financial products, including private label credit cards personal loans, bank cards, auto loans and leases, mortgages, corporate travel and purchasing cards, debt consolidation and home equity loans and credit insurance.
More information can be found online at www.geconsumerfinance.com.
GE (NYSE: GE) is a diversified services, technology and manufacturing company with operations
worldwide.
More information about GE can be found online at www.ge.com.
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CONTACT: GE Consumer Finance
Cristy Williams, 770/522-5039
404/993-7410 (cell)
[email protected]
or
Brooks Brothers
Geri Corrigan, 212/885-6844
Cristy Williams
[email protected]
678.518.2596