RBC Rewards clients will be the first in Canada to earn 2x the RBC Rewards points when shopping in store and redeem points for Saks Fifth Avenue gift cards

TORONTO, Feb. 3, 2016 /CNW/ - Shopping can be a rewarding experience, no matter what your style. Whether admiring designer fashions, coveting a luxurious leather handbag or marvelling at a beautifully designed window display, RBC Rewards is making these luxuries even more rewarding with exclusive bonus rewards offers when shopping at Saks Fifth Avenue stores in Canada.

Starting February 3, RBC Rewards customers can redeem RBC Rewards points for Saks Fifth Avenue gift cards and earn up to 500 bonus points. Plus, when Saks Fifth Avenue stores open in Canada, RBC Rewards clients will earn 2x the rewards points when they shop in-store with an eligible RBC Rewards credit card.

"We're thrilled to be the first company in Canada to offer Saks Fifth Avenue gift cards in advance of the brand's upcoming store openings in Toronto," says Athena Varmazis, vice-president, Global Loyalty Programs and Rewards, Royal Bank of Canada. "The bonus offers with Saks Fifth Avenue allow us to provide RBC Rewards customers with more choice in how they earn – and redeem – their loyalty points for rewards that suit their tastes and lifestyle. From redeeming for travel, electronics and gift cards, to using their points to pay down their RBC Rewards credit card, our clients have the flexibility and choice to use their points the way they want."

According to the 2015 Loyalty Report from Bond Brand Loyalty, almost half (42 per cent) of RBC Royal Bank clients said they valued loyalty programs and customer service over price when making purchasing decisions, demonstrating the importance clients place on bonus points offers with retailers like Saks Fifth Avenue. With this new offer, RBC is offering clients even more choice and flexibility when it comes to how they can earn even more RBC Rewards points.

Get a head start on your rewarding luxury shopping experience

RBC Rewards customers can now redeem their RBC Rewards points for a Saks Fifth Avenue gift card and earn up to 500 bonus points:

• $25 gift card = earn 50 bonus points
• $50 gift card = earn 100 bonus points
• $100 gift card = earn 200 bonus points
• $250 gift card = earn 500 bonus points

"We are excited to embrace the Greater Toronto Area as a new frontier for our brand, and extend the Saks Fifth Avenue experience to the Canadian market," says Stephane Ledoux, regional vice-president of Saks Fifth Avenue Canada. "Through the bonus offer with RBC Rewards, Saks Fifth Avenue will provide Canadians with greater value, and even more incentive to shop at the premier luxury destination and fashion authority in Canada."

Saks Fifth Avenue will open at the Eaton Centre on February 18 and at Sherway Gardens on February 25. The stores will include a number of luxurious offerings to delight and entertain Toronto residents and visitors alike. They will feature an extensive array of women's designer ready-to-wear, a grand designer handbag selection, robust beauty offerings and unique men's areas, complete with a made-to-measure lounge. The two locations will also include 10022-SHOE, Saks Fifth Avenue's signature women's designer shoe salon, showcasing an extensive selection of designer brands.

About RBC Rewards
As one of Canada's premier providers of loyalty programs, RBC has the rewards options that help clients get the most from their points. From using points to pay down their credit card balances with Payback with Points, to exciting merchandise, travel and gift cards redemptions, RBC Rewards clients have flexibility and choice in how they use their points. For more information, please visit www.rbcrewards.com.

About RBC
Royal Bank of Canada is Canada's largest bank, and one of the largest banks in the world, based on market capitalization. We are one of North America's leading diversified financial services companies, and provide personal and commercial banking, wealth management, insurance, investor services and capital markets products and services on a global basis. We employ approximately 81,000 full- and part-time employees who serve more than 16 million personal, business, public sector and institutional clients through offices in Canada, the U.S. and 37 other countries. For more information, please visit rbc.com.‎

RBC helps communities prosper, supporting a broad range of community initiatives through donations, sponsorships and employee volunteer activities. In 2015, we contributed more than $100 million to causes around the world.

SOURCE RBC