Citi Retail Services has inked a long-term agreement with The Toro Company for a private label credit card program in the United States. Under the new agreement, Citi will offer and service Toro and Exmark OEM-branded cards available throughout Toro’s broad dealer network.
“This new partnership with The Toro Company is a great opportunity for us to enter the power equipment space with an industry-leading provider,” said Craig Vallorano, Head of Citi Retail Services. “This agreement allows us to utilize and expand our deep expertise in consumer and commercial private label credit, helping solidify our leadership position in the dealer distribution market space.”
The Toro Company, a manufacturer of lawnmowers and landscaping equipment, had $2.4 billion in fiscal 2016 sales across its businesses that help customers care for golf courses, landscapes, sports fields, public green spaces, commercial and residential properties and agricultural fields. Citi Retail Services is one of North America’s largest and most experienced retail credit solution providers. This partnership leverages Citi’s expertise in retailer and dealer card programs in the home improvement and outdoor maintenance retail space.
The new program will provide Toro and Exmark dealers with industry leading point of sale processing, new to industry marketing promotions and more flexible financing terms designed to provide enhanced value to customers, and drive incremental sales and loyalty. The partnership is slated to take effect immediately, with Toro and Exmark dealers being able to take advantage the new services resulting from the agreement.
Citi Retail Services delivers consumer and commercial credit card products, both private label and co-brand, to retailers and their clients across North America. Backed by the global power of Citi, 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. Citi Retail Services offers cutting-edge digital options, multi-channel retailing expertise and industry-leading data analytics capabilities that help retailers from a broad range of industries grow their businesses.