Afterpay Continues U.S. Growth with New Fashion and Beauty Brand Partners In Time For Fall Shopping

SAN FRANCISCO, Sept. 26, 2019 /PRNewswire/ --  Afterpay Touch Group Limited (ASX: APT), a rapidly growing "Buy Now, Pay Later" company that offers interest- and fee-free installment plans with top fashion and beauty brands, announced today that they are the official payments launch partner of Haus Laboratories, Lady Gaga's prestigious beauty line. The brand went live to the public last week kicking off with a launch party in Los Angeles, with Afterpay sponsoring the official after party. The event was attended by beauty influencers and friends, where they heard Lady Gaga speak about the power of makeup before debuting the collection during the event for attendees to experience first-hand.

In addition, Afterpay is thrilled to announce partnerships with fashion retailer Madewell as well as prestige beauty brands Laura Mercier, Shiseido, Cle de Peau, and Buxom, all going live over the next few weeks in time for fall shopping.  These new additions make up more than 6,500 beauty and fashion retailers Afterpay is partnered with in the U.S., and the over 2.1 million active customer base¹. According to a survey conducted in August 2019, nearly 75% of Afterpay users shop beauty weekly, and more than 80% shop women's fashion weekly.² Over 90% of millennials and Gen Z are influenced by social media when making purchases, and over 50% of those purchases are made on mobile devices.³

Nick Molnar, Afterpay Co-Founder and U.S. CEO said, "We are excited to launch with these new brands ahead of the busy holiday season. There has been tremendous growth in new ways to pay in the U.S. over the last 6-12 months, and we are delighted that retailers and brands alike see Afterpay as a leader in the space and want to partner with us."

In addition to the new brand partners launching now, Afterpay is already partnered with brands millennials love, including Urban Outfitters, Free People, Revolve, GOAT, DSW, and Tarte Cosmetics, amongst others. As well as these popular brands, survey results show that over 80% of users discovered new brands on Afterpay.⁴ As announced in their recent financial report, merchant, customer and underlying sales growth have continued to track above expectations with current run-rate in excess of $1.7 billion.⁵ In the month of August, Afterpay sent more than 5 million referrals to retailers in the US.

About Afterpay Touch Group                                                                                          
Afterpay Touch Group (ASX: APT) is a global technology-driven payments company with a mission to be 'the world's most loved way to pay'. APT comprises the Afterpay and Pay Now (Touch) services and businesses. Afterpay is driving retail innovation by allowing leading retailers to offer a 'buy now, receive now, pay later' service that does not require customers to enter into a traditional loan or pay any upfront fees or interest to Afterpay. As at 23 August 2019, Afterpay has over 5.2 million active customers and approximately 35,300 active retail merchants on-boarded. Pay Now comprises innovative digital payment businesses servicing major consumer-facing organisations in the telecommunications, health and convenience retail sectors in Australia.

¹  Active customers are defined as those that have made a purchase from a retailer using the Afterpay product in the last 12 months

^2-4  Stats are based on 2,279 Millennial Afterpay customer respondents & 479 Gen Z Adults Afterpay customer respondents, August 2019

⁵  ASX FY19 Financial Report

SOURCE Afterpay

Related Links

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