Five Ten announced a 2016 initiative for Canadian dealers. Effective now, Five Ten will offer Canadian dealers the opportunity to pay in Canadian dollars (CAD).
“It might sound simple, but we have committed significant time and capital into restructuring our systems in order to accept a new method of payment,” says Five Ten North American Sales Manager Rick Reed. “We recognize that it has not been easy for dealers to pay in US Dollars and sell in Canadian, so we are taking on that responsibility. Accepting payments in local currencies is not yet a North American industry standard, but for us it is best practice. ”
Continues Reed, “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.”
The restructuring of Canadian commerce is part of a larger Five Ten initiative to better service its global partnerships. Five Ten has implemented a Minimum Advertised Pricing Policy in North America to protect dealers from unauthorized discounting. Explains Reed, “We now have a formal Minimum Advertised Pricing (MAP) Policy in place in Canada, as well as in the U.S. 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.
Five Ten climbing, bike and outdoor products are available to Canadian dealers directly from the company’s U.S. distribution center in California; Five Ten’s U.S made climbing shoes are duty free to Canadian buyers. Select Five Ten bike products are also available to Canadian dealers from Quality Bicycle Products, Five Ten’s North American bike product distributor.