London, 9th August 2021 -- YOOX NET-A-PORTER GROUP, the world leader in online luxury and fashion, has today announced an international partnership with Klarna, a leading global retail bank, payments and shopping service. 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.
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About YOOX NET-A-PORTER Group.
YOOX NET-A-PORTER GROUP is the world’s leading online luxury and fashion retailer with 4.5 million high-spending active customers in 180 countries. As pioneers in bringing together the realms of technology and luxury, YOOX NET-A-PORTER connects the most discerning clientele with the joy of luxury and fashion that lasts a lifetime and beyond. It combines a curated edit of the world’s most coveted brands with personalised end-to-end service, all shaped by 20 years of insights into the modern shopper.
YOOX NET-A-PORTER is uniquely positioned in the high-growth luxury e-commerce sector thanks to a focused business model that comprises a complete luxury retail ecosystem. The Group sells directly to customers globally through its own family of multi-brand online shops: NET-A-PORTER, MR PORTER, YOOX and THE OUTNET. In addition to this, the Group’s Online Flagship Stores Division partners with many leading luxury brands to power their own e-commerce destinations, including the next era of omnichannel solutions that blur the line between online shopping, mobility and the boutique.
YOOX NET-A-PORTER balances technology and human touch to create a truly luxury shopping experience. Artificial intelligence, augmented reality, voice and visual search are all innovations that the Group is developing to enrich the customer experience – which is nearly always via a smartphone. Sustainability increasingly shapes the way YOOX NET-A-PORTER conducts business, with a focus on ensuring lasting positive impact for people and the planet through circularity, transparency and collaboration.
YOOX NET-A-PORTER is a global Group with Anglo-Italian roots. Its localised approach to serving customers is supported by offices and operations in the United States, Europe, Middle East, Japan, China and Hong Kong. The Group strengthened its presence in the fast-growing Chinese and Middle Eastern luxury markets through joint ventures with the strongest local partners, namely Alibaba and Mohamed Alabbar’s Symphony Investments.
YOOX NET-A-PORTER is part of Richemont. Federico Marchetti, Founder of YOOX, is the Group’s Chairman and Geoffroy Lefebvre is the CEO.
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About Klarna.
With over 90 million global active users and 2 million transactions a day, Klarna is meeting the changing demands of consumers who want to shop, pay and bank on one intuitive platform and with one trusted brand. 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 have enabled Klarna’s innovative shopping experience online and in-store.Klarna is one of the most highly valued private fintechs globally with a valuation of $45.6 billion. Klarna was founded in 2005, has over 4,000 employees and is active in 17 markets. Klarna 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.Klarna is committed to being a sustainable business and in June 2021 became the first fintech to sign the Climate Pledge and join the Race to Zero Campaign. As part of Klarna’s sustainability initiative GiveOne, 1% of its funding goes to causes supporting the planet. For more information visit klarna.com.