Throughout the past year, the fashion industry has experienced an immense amount of growth and change. From striking trends to sustainability challenges, both brands and consumers embraced the reality of the situation. Some brands have used the digital era to their advantage and others are struggling to stay relevant. The online fintech platform, Klarna has taken shopping to the next level with flexible payment solutions, and because of this, shopping has never been easier.
Klarna is a secure financing service that offers 4 interest-free payment installments paid on a 2 week basis. The brand’s mantra, “Buy now, pay later” has attracted a wide range of B2C consumers, motivating them to make purchases left and right. The pay over time feature takes the guilt out of shopping and only requires a small deposit to use. Not only that, but Klarna has no impact on your overall credit score.
Partnerships with services like Klarna have had a tremendous impact on sales and website traffic. They incentivize shoppers, especially younger ones, to buy more, knowing they have up to 8 weeks to pay it all off as their paychecks roll in. As a result, these deferred payment services have become a trending marketing tool for consumer fashion brands and retailers everywhere.
Klarna’s Partnership with Italian Fashion Manufacturer, MakersValley
MakersValley recently partnered up with Klarna to deliver the best experience to fashion brand clients. With Klarna, fashion creatives can easily get multiple Italian factory bids to sample and produce their designs and secure their choice of factory by putting down the first sampling payment installment. This feature is available on all invoices totaling $1000 USD or less, and once your sample design is finished and paid off, you can choose to use Klarna again to cover your shipping fees from Italy.
MakersValley’s partnership with Klarna makes the manufacturing process more accessible to member designers and brands by giving them the freedom and flexibility to budget, plan ahead, and save money in the moment. Klarna’s business to consumer (B2C) approach uses their retailers as distribution channels. However, MakersValley is the first fashion tech company to take this approach and cater it to the business to business (B2B) fashion market. Connecting these businesses provides room for creativity rather than focusing on the expenses that come with building your brand or launching your new collection. By offering Klarna’s services, MakersValley gives its members the opportunity to excel and make their dream design come to life.