TORONTO, April 5 /CNW/ - In an effort reflect the Canadian/U.S. dollar exchange rate, which is closely approaching parity, Brooks Brothers dramatically reduced its Canadian pricing starting April 1st. These changes place the well-known retailer's Canadian prices more closely in-line with in-store U.S. prices, especially on everyday value items such as the acclaimed Brooks Brothers Non-Iron Shirt.
Before the price change, all Brooks Brothers Non-Iron shirts retailed for $108 each (three for $229) in Canadian stores. Following the price adjustment, all Non-Iron shirts will retail for $89.50 each (three for $219). Prices will be slightly higher than U.S. prices because of duty and shipping costs.
"For some time, Canadians have questioned why the U.S. and Canadian dollar exchange rate has not been reflected in Canadian retail pricing," says Claudio Del Vecchio, chairman and CEO, Brooks Brothers. "With the Canadian and US dollars approaching parity, cross-border shopping is at a ten year high for apparel. We recently opened two Canadian retail locations and we want to ensure our Canadian customers are satisfied with the exceptional service, quality and value they receive in our Canadian stores."
Brooks Brothers will also be offering a 15% discount on all merchandise throughout the Canadian stores for as long as the Canadian dollar remains strong.
Brooks Brothers opened its Toronto and Vancouver locations in 2009 and will open in Calgary in late summer 2010.
Brooks Brothers has been operating continuously for 192 years. As America's longest established retailer, the company is responsible for the introduction of many iconic products, including the button-down collar shirt as well as the introduction of seersucker and madras. Additionally, since the company's founding, Brooks Brothers has been worn by nearly every U.S. President, including Abraham Lincoln, Theodore Roosevelt, Franklin Roosevelt, Dwight Eisenhower, John F. Kennedy, William Clinton and Barack Obama.
Brooks Brothers' prominence in popular culture can be felt as well. The company currently collaborates on costumes for numerous films and television programs, including Mad Men, Gossip Girl, Entourage and Stephen Colbert's The Colbert Report.
About Brooks Brothers
Established in 1818, Brooks Brothers currently operates stores in the United States, Europe, Japan, Hong Kong, Korea, China, Malaysia, Singapore, Taiwan, Chile, Canada and Dubai. The company also sells its merchandise through a direct mail catalogue and e-commerce site, brooksbrothers.com. Brooks Brothers was acquired in December 2001 by Retail Brand Alliance, Inc., a privately-owned company which is specialized in manufacturing, merchandising and retailing. Please visit www.brooksbrothers.com for store locations.
SOURCE BROOKS BROTHERS
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