“Tourneau picks TD Retail for private-label cards”

Tourneau picks TD Retail for private-label cards

Posted: 08 Aug 2010 01:27 AM PDT

Mahwah, N.J.--The credit crunch has had many jewelry retail chains rethinking their credit programs, and Tourneau, the world's largest watch store, is no exception as it has chosen TD Retail Card Services to administer its private-label credit card program, the credit card company announced Wednesday.

Under the agreement, the Mahwah, N.J.-based business unit of TD will direct all facets of the credit program for the 42 Tourneau and Tourneau Watch Gear stores, which are located in a range of U.S. shopping venues across the United States, including the company's flagship store, the Tourneau Time Machine, on 57th Street and Madison Avenue in New York City, the company said in a release. In addition to its home state of New York, Tourneau operates retail stores in upscale shopping centers and malls in Arizona, California, Florida, Georgia, Hawaii, Illinois, Massachusetts, Michigan, Nevada, New Jersey, Pennsylvania, Texas and Virginia.

Following the switch to TD Retail Card Services, Tourneau cardholders will retain access to a number of financing options, including various interest-free and low-interest offerings.

TD Retail Card Services (formerly Shoppers Charge Accounts Co.) lays claim to being one of the nation's largest private-label credit card companies. A division of TD Bank, N.A, the Mahwah, N.J.-based company launches and administers new credit card portfolios for brick-and-mortar, Internet and catalog merchants, and acquires retailers' existing credit card portfolios.

Established in 1900, watch giant Tourneauis a key source for both new and pre-owned watches in the United States, and it distributes and retails the best-known brands, including Rolex, Patek Philippe, Cartier, Omega, Breitling and TAG Heuer, in more than 8,000 unique styles.

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