STOCKHOLM, June 27, 2019 /PRNewswire/ -- Today, H&M and Klarna announced that they have expanded their current partnership agreement to also include the US market, in the development of an unrivalled payments and shopping experience across touchpoints. Together, H&M and Klarna are aiming at further integrating H&M's digital and physical stores to give customers a seamless, personalised and engaging shopping experience no matter where, when and how they shop.
The partnership extends across H&M channels, online as well as in-store, and will provide frictionless and flexible payments, including Klarna's leading 'Shop now, Pay Later' full product offering, as well as a streamlined post-purchase experience for deliveries and returns. This will be managed through the next generation of the H&M app and H&M's loyalty program, with the overall objective to create an outstanding end-to-end shopping experience for fashion fans that is even more inspiring and relevant. The new feature is currently available for H&M members only, as H&M aims to create the world's best customer loyalty program.
Daniel Claesson, Head of Business Development at H&M Group, says: "Shopping at H&M should be convenient, relevant and inspiring and we are happy to soon offer fashion fans in selected markets a whole new way of paying their fashion finds. Klarna has helped us develop an H&M-unique payment solution that offers our fans a truly modern shopping experience no matter where and how they choose to shop."
Michael Rouse, Chief Commercial Officer at Klarna, says: "The foundation of the Klarna and H&M partnership is a commitment to continuously develop smarter, simpler and engaging shopping experiences. The future of retail is a high touch experience across channels which will delight customers, drive value and build loyalty. Customers will not settle for average and neither will we. We at Klarna are excited by how this partnership with H&M continues to develop and to now together launch in the largest and most exciting retail markets in the world."
The go live in the US is expected during the autumn 2019, and the first country to go live in accordance with already announced partnership is Switzerland in August, followed by the UK shortly after. Another five markets will also go live throughout 2019.
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Klarna is a leading global payments provider and fully licensed bank, which wants to revolutionise the payment experience for shoppers and merchants alike. Founded in Stockholm, Sweden, in 2005, we give online consumers the option to pay now, pay later or over time – offering a simple, safe and smoooth checkout experience. Klarna now works with 130,000 retail partners. Klarna has 2,500 employees and is active in 14 countries.
H&M Hennes & Mauritz AB (publ) was founded in Sweden in 1947 and is quoted on Nasdaq Stockholm. H&M's business idea is to offer fashion and quality at the best price in a sustainable way. In addition to H&M, the group includes the brands COS, Monki, Weekday, Cheap Monday, & Other Stories, H&M HOME and ARKET as well as Afound. The H&M group has 48 online markets and more than 4,900 stores in 72 markets including franchise markets. In 2018, net sales were SEK 210 billion. The number of employees amounts to more than 177,000. For further information, visit hmgroup.com.
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SOURCE Klarna Bank AB (publ)