YOOX NET-A-PORTER GROUP, the online luxury and fashion company, has partnered with Klarna, the buy now pay later service to boost customer experience and payment options.
Through the partnership, YOOX NET-A-PORTER customers will be able to pay using Klarna’s popular ‘pay later’ products, including its Pay in 3 and Pay in 4 options.
Brands across the YOOX NET-A-PORTER portfolio will be able to offer customers flexible payment options on top of the other payment methods already available, allowing them to spread the cost of purchases over time, with no interest charged.
Klarna’s flexible payment services have already begun to be rolled out across the YOOX NET-A-PORTER Group, starting with MR PORTER – where the service is available in the US, UK, Germany, Austria, the Netherlands, Italy, Spain, Belgium and Finland.
NET-A-PORTER has launched in the US and Australia with other European markets launching later in 2021. This will be followed by implementation across THE OUTNET and YOOX over the next 12 months.
Klarna, which boasts of over 90 million global active users and 2 million transactions a day, has over 250,000 global retail partners, including H&M, Saks, Sephora, Macys, IKEA, Expedia Group, Samsung, ASOS, Peloton, Ralph Lauren, Abercrombie & Fitch, Nike and Shein.
With a valuation of $45.6bn, Klarna is active in 17 markets and has been backed by Sequoia Capital since 2010 and more recently, SilverLake, Dragoneer, Bestseller Group, Permira, Ant Group, HMI Capital, TCV, NorthZone, Commonwealth Bank of Australia, Merian Chrysalis Investment Company Limited, funds and accounts managed by BlackRock amongst others.
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