REDLANDS, Calif. (BRAIN) — Footwear brand Five Ten is now accepting payment from its Canadian retailers in Canadian dollars.
Five Ten's North American sales manager, Rick Reed, said accepting the new method of payment required "significant time and capital." But he said Canadian dealers were finding it expensive to pay in U.S. dollars and sell in Canadian dollars.
"Accepting payments in local currencies is not yet a North American industry standard, but for us it is best practice.," he said.
"Billing in a local currency is ultimately a huge win for our loyal customers who put on our footwear daily and charge on the local trails or rock. They can find stability in the price of our products throughout the season at their local retailer and our dealers are able to commit to stocking our brand with confidence."
Five Ten also recently implemented a minimum advertised pricing policy in North America.
"This policy affects both advertised prices and the use of coupon codes that discount our products. It helps to even the playing field for all of our retail partners. Five Ten greatly values the efforts of our resellers who distribute Five Ten products and support our customers and this policy is adopted for the benefit everyone," Reed said.
Five Ten products are available to Canadian dealers directly from the company's U.S. distribution center in California; select Five Ten bike products are also available to Canadian dealers from QBP, Five Ten's North American bike product distributor.
For more information, contact Five Ten Communications at nancy.bouchard@fiveten.com.
