Afterpay (ASX:APT), the leader in “Buy Now, Pay Later” payments, today announced that it has partnered with Fashion Nova, a leading e-commerce fashion platform, to offer shoppers a more flexible way to pay – just in time for the fall shopping season. Now, consumers who shop Fashion Nova online will have the option to pay responsibly with Afterpay at checkout, in four interest-free installments.
The addition of Fashion Nova comes after a highly successful year-end for Afterpay, during which the company’s customer base in North America grew to nearly 20 million – with 90% of orders made by repeat customers2. Afterpay’s customer base is largely fashion-forward Gen Z and Millennials, and in fact, Gen Z represents the fastest growing demographic on the platform. The partnership is a joint effort by the brands to make fashion more accessible to these younger consumers.
Fashion Nova values accessibility and affordability – it is part of the foundation on which the company was built. Founder & CEO Richard Saghian said: “We’ve always prided ourselves on providing consumers easy and affordable access to the trendiest styles. The partnership with Afterpay further enables our customers to buy their favorite looks in a way that is both seamless and convenient.”
Zahir Khoja, General Manager of Afterpay North America, said: “As we head into fall and the busy holiday season, it’s the perfect time to bring Fashion Nova onto the Afterpay platform as shoppers look to update their wardrobes. This partnership stems from our shared desires to cater to the very powerful Gen Z consumers, who prefer to spend their money responsibly and pay over time with Afterpay.”
Fashion Nova joins Afterpay’s already wide network of nearly 100,000 global retailers, which allow customers to receive items immediately and pay over time, without revolving debt or paying interest. Merchants benefit from the company’s highly-engaged customer base, as the Afterpay Shop Directory generates an average of one million merchant referrals globally per day3.
