Payment platform Laybuy partners with fashion brand ALEXACHUNG
Payments platform Laybuy has teamed up with fashion brand ALEXACHUNG to offer the payment option in the UK.
The partnership will allow customers of the brand, by model and fashion designer Alexa Chung, to spread the cost of purchases over six equal weekly payments.
The ‘buy now, pay later’ platform launched two years ago and has since reported its partner’s order values rise by 60 per cent, online and instore conversion rates increase by 50 per cent and new customer acquisition rise by 30 per cent.
The firm, founed in New Zealand firm by Gary Rohloff and son Alex, launched in the UK with Footasylum in March.
The firm offers an interest-free option to spread the cost of what it calls ‘aspirational purchases’, and uses credit checks powered by Experian to set responsible credit limits.
"ALEXACHUNG is excited to partner with Laybuy and offer our customers a new way to acquire and invest in pieces from our collections,” said Edwin Bodson, managing director, ALEXACHUNG.
“The flexibility offered by Laybuy is key for our audience and will only help to broaden our customer base."
Gary Rohloff, Co-Founder and Managing Director of Laybuy added: “We’re delighted to be working with ALEXACHUNG in the UK and the timing is perfect with the pre-fall 2019 collection having recently launched.
“Brands recognise that customers want more options and better ways to pay, and that it needs to be done responsibly. That’s precisely what Laybuy has been designed to do, and we’re seeing a huge amount of interest from retailers in the UK wanting to take advantage of this.”