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The global fashion business journal

17 Jul 201920:26

H&M reinforces its partnership with Klarna payment platform to expand to the US

The Swedish fashion company will facilitate its flexible and frictionless payment experience to American consumers to reinforce in omnichanneling.

27 Jun 2019 — 10:15
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H&M reinforces its partnership with Klarna payment platform to expand to the US

 

H&M is reinforced in omnichannel in the United States. The Swedish fashion company has expanded its agreement with Klarna to offer a flexible and frictionless payment to American customers. H&M and Klarna allied last year to boost the Shop now, Pay later system, as well as to streamline the post-purchase experience in deliveries and returns.

 

Both companies manage this new payment experience through the H&M app and the company's loyalty program. The service is scheduled to arrive in the United States in the autumn of 2019, after it has already been implemented in Switzerland and the UK. In addition to the United States, the company intends to increase the service to five more countries throughout the year, with the aim of reaching fourteen markets in the future.

 

“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, affirmed Daniel Claesson, the company's head of business development, in a statement.

 

H&M presented today its first semester results. The company has gained 10% less than in the same period of the previous year, reaching a net profit of 5,372 million Swedish crowns (509.5 million euros). The turnover, on the other hand, has increased by 10.6% to 108,498 million Swedish crowns (10,290 million euros).

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