TORONTO, March 27,
2025 /CNW/ - Royal Bank of Canada (TSX: RY) (NYSE: RY) (RBC) and Canadian
Tire Corporation, Limited (TSX: CTC) (TSX: CTC.A) (CTC) today
announced a long-term strategic loyalty partnership between Avion
Rewards and Triangle Rewards. This collaboration will enhance the
value of both programs by linking millions of eligible RBC credit
and debit cardholders to Triangle Rewards, enabling them to earn
more Canadian Tire Money while unlocking exclusive promotions at
Canadian Tire, SportChek, Mark's and other CTC retail banners. The
partnership expands the reach of Triangle Rewards and further
strengthens Avion Rewards' strong network of merchant partners.
"We are bringing together two deeply rooted Canadian companies –
Canada's largest bank and the
country's largest general merchandise retailer – to increase the
amount of everyday value, rewards and savings that we provide to
our shared customers," said Vinita
Savani, Executive Vice President, Cards & Loyalty, RBC.
"Our combined scale and unparalleled reach will leverage the
strength of our businesses and leading loyalty programs to provide
additional benefits for millions of Canadians in meaningful new
ways."
"This partnership creates a loyalty powerhouse, combining strong
brands and putting additional Canadian Tire Money into the hands of
cardholders and members," said Darryl
Jenkins, Executive Vice President & Chief Development
Officer, Canadian Tire Corporation. "It means millions of linked
members will gain access to unique promotions and new ways to
expand the value of their favourite loyalty programs every day. The
partnership will increase our loyalty membership and drive retail
sales across our banners."
Under this partnership, eligible RBC credit and debit
cardholders will be able to earn Canadian Tire Money at an
accelerated rate when shopping at CTC's retail banners. They will
also enjoy exclusive offers and promotions through RBC and Avion
Rewards. These new offerings are expected to launch in 2026.
This partnership expands the ways linked members can earn
through Triangle Rewards – one of Canada's leading loyalty programs. Triangle
Rewards enables nearly 12 million loyalty members to collect and
redeem Canadian Tire Money across CTC's banners. A cornerstone of
CTC's new True North strategy, Triangle Rewards is enhancing
its value to Canadians through more personalized offers and a
coordinated strategy combining its banner stores, the unique
retail-driving capability of Triangle Cards, and everyday partners
like Petro-Canada, RBC and other leading brands currently in
negotiation.
Avion Rewards, Canada's largest
proprietary loyalty program, has been a leader in loyalty for more
than 20 years and is available to all Canadians, regardless of
where they bank. It provides Canadians with the flexibility to
shop, save, earn and redeem for everyday merchandise, aspirational
rewards and experiences. With its market-leading travel value
proposition, extensive roster of over 2,000 retail partners,
unparalleled experiences, innovative features and payment
capabilities, Avion Rewards provides its members with a
comprehensive rewards experience that spans their entire shopping
journey. For more information, visit www.avionrewards.com.
FORWARD-LOOKING INFORMATION
This press release
contains information that may constitute forward-looking
information within the meaning of applicable securities laws,
including the "safe harbour" provisions of the United States
Private Securities Litigation Reform Act of 1995 and any
applicable Canadian securities legislation, which reflect RBC and
CTC management's current expectations regarding future events and
RBC and CTC's strategy. Forward-looking information in this press
release includes, but is not limited to, information related to:
enhanced value and benefits to the Avion Rewards and Triangle
Rewards programs, increased Triangle Rewards loyalty membership,
increased CTC sales, exclusive offers and promotions through RBC
and Avion Rewards and potential Triangle Rewards loyalty
partnerships under negotiation. The forward-looking information
contained in this press release is presented for the purpose of
assisting holders of our securities and financial analysts in
understanding the partnership and may not be appropriate for other
purposes. Often, but not always, forward-looking information can be
identified by the use of forward-looking terminology such as "may",
"will", "expect", "intend", "believe", "estimate", "plan", "can",
"could", "should", "would", "outlook", "target", "forecast",
"anticipate", "aspire", "foresee", "continue", "ongoing" or the
negative of these terms or variations of them or similar
terminology. Although RBC and CTC believe that the
forward-looking information in this press release is based on
information, estimates and assumptions that are reasonable, RBC and
CTC caution readers not to place undue reliance on such
forward-looking information since it is necessarily subject to a
number of risks, uncertainties and other factors that could cause
actual results to differ materially from those expressed or implied
in such forward-looking information. For information on the
material risks, uncertainties, factors and assumptions that could
cause actual results to differ materially from the forward-looking
information, refer to section 14.0 (Forward-Looking Information and
Other Investor Communication) of CTC's 2024 Fourth Quarter and
Full-Year Management's Discussion and Analysis and all
subsections therein, available on the SEDAR+ website
at http://www.sedarplus.ca and https://investors.canadiantire.ca
and the risk sections of RBC's 2024 Annual Report and the Risk
management section of RBC's Q1 2025 Report to Shareholders, as may
be updated by subsequent quarterly reports, available on the SEDAR+
website at http://www.sedarplus.ca and
rbc.com/investorrelations. RBC and CTC do not undertake to update
any forward-looking information, whether written or oral, except as
is required by applicable laws.
About RBC
Royal Bank of Canada is a global financial institution with
a purpose-driven, principles-led approach to delivering leading
performance. Our success comes from the 98,000+ employees who
leverage their imaginations and insights to bring our vision,
values and strategy to life so we can help our clients thrive and
communities prosper. As Canada's
biggest bank and one of the largest in the world, based on market
capitalization, we have a diversified business model with a focus
on innovation and providing exceptional experiences to our more
than 19 million clients in Canada,
the U.S. and 27 other countries. Learn more at rbc.com.
We are proud to support a broad range of community initiatives
through donations, community investments and employee volunteer
activities. See how at rbc.com/peopleandplanet.
About Canadian Tire Corporation
Canadian Tire
Corporation, Limited (TSX: CTC.A, TSX: CTC, "CTC") has been a
proudly Canadian business since 1922. Guided by its brand purpose,
"We are here to make life in Canada better," CTC has built an expansive
national retail presence, exceptional customer brand trust and one
of Canada's strongest workforces –
employing, along with its local Dealers and franchisees, tens of
thousands of Canadians. At its core are retail businesses, each
designed to serve life's pursuits: Canadian Tire, offering products
spanning Living, Playing, Fixing, Automotive, and Seasonal &
Gardening, bolstered by notable banners Party City and PartSource;
Mark's, a leading source for casual and industrial wear; SportChek,
Hockey Experts, Sports Experts and Atmosphere, offering the best
brands of active wear and gear; and Pro Hockey Life, a hockey
specialty store catering to elite players. CTC's banners, brand
partners and credit card offerings are unified through its Triangle
Rewards loyalty program – a linchpin of CTC's customer-driven
strategy. With nearly 12 million members, Triangle integrates
first-party data to deliver valuable rewards and personalized
experiences across nearly 1,700 retail and gasoline outlets. CTC
also operates a retail petroleum business and a Financial Services
business and holds a majority interest in CT REIT, a TSX-listed
Canadian real estate investment trust. For more information,
visit Corp.CanadianTire.ca.
FOR MORE INFORMATION
RBC:
Julia Miller
Corporate Communications, RBC
julia.d.miller@rbc.com
Canadian Tire Corporation:
Media:
Stephanie Nadalin, (647) 271-7343,
stephanie.nadalin@cantire.com
Investors: Karen Keyes, (647)
518-4461, karen.keyes@cantire.com
SOURCE Canadian Tire Corporation, Limited
