Authentic Brands Group (ABG), a brand development company featuring popular names such as Juicy Couture, Lucky Brand, Brooks Brothers and Nautica, and retail platform SPARC Group have signed an exclusive deal with Klarna to offer ecommerce customers a buy now, pay later (BNPL) option across its portfolio of retail brands.
Klarna’s “Pay in 4” option of four interest-free payments is already available online at Aéropostale, Nine West, Nautica and Brooks Brothers, with plans to roll out across the ABG and SPARC portfolios in the coming months.
“Our partnership with Klarna provides access to payment options we know our shoppers want to see and has resulted in a significant uptick in average order value,” said Mike Dupuis, Chief Digital Officer of SPARC Group in a statement.
“With a strategic emphasis on digital innovation and customer satisfaction, ABG continues to seek partnerships that power our ecommerce sites with the best possible shopping experience for our customers,” said Adam Kronengold, Chief Digital Officer at ABG in a statement. “Through this exclusive partnership with Klarna, we are delivering on our commitment to strengthen ABG’s ecommerce platform, broaden our consumer audience base and attract new shoppers to our brands.”
BNPL offerings have become increasingly popular payment options, particularly for younger consumers who are wary about building up large credit card balances.