Building on a nearly 20-year relationship, the
companies will leverage advanced insights and technology to drive
consumer demand and growth
MINNEAPOLIS and STAMFORD, Conn., Sept. 1,
2022 /PRNewswire/ -- Synchrony (NYSE: SYF) and Sleep
Number (Nasdaq: SNBR) announced that they have renewed their
longtime financing partnership, which includes new joint
investments from both industry leaders. Their commitment will
continue to focus on exceptional customer experiences and make
Sleep Number's award-winning sleep and wellness solutions
attainable for more consumers.
The multi-year agreement deepens the two companies' nearly
20-year relationship and draws on their trajectory of innovation in
their respective industries. To build upon their success, new areas
of collaboration are planned to include:
- Investing in advancements, including consumer payment
choices;
- Deepening personalization; and
- Increasing customers' access to credit.
"Together, our companies have developed a strong team and deep
understanding of how payment experiences drive customer
satisfaction and business growth at Sleep Number," said
Curtis Howse, CEO of Home and Auto,
Synchrony. "We share a passion for innovation and digital
reinvention and have built a terrific foundation for what comes
next: creating an enhanced customer experience that utilizes more
customer and credit insights, combined with the significant
advancements we've made in payments. We look forward to continuing
to do great things together."
"This partnership is an important contributor to our superior
shopping experience, enabling us to deliver exceptional value for
our Smart Sleeper community," said Melissa
Barra, Executive Vice President and Chief Sales and Services
Officer, Sleep Number. "Leveraging our extensive consumer insights
and digital capabilities, Sleep Number and Synchrony work closely
together to continuously simplify the purchasing process and
broaden credit accessibility. Because consumers are increasingly
connecting the impact of quality sleep to their overall wellbeing,
we must ensure our 360 smart beds are attainable for everyone.
We're excited to extend our collaboration and deliver meaningful
health and wellness benefits for more people."
With a purpose of improving the health and wellbeing of society
through higher quality sleep, Sleep Number pioneered multiple
breakthroughs in sleep and wellness technology. Its 360®
smart bed platform automatically adjusts and effortlessly responds
to the needs of each sleeper for proven quality sleep. Since 2017,
the smart beds have improved the lives of millions of people in the
Smart SleeperSM community through individualized
insights, plus science-backed features including daytime alertness
tracking, circadian rhythm insights and nighttime heart rate
variability. Real-world sleep data captured from 360 smart beds is
also being used by the world's leading sleep health and research
institutions to study disease prediction, diagnosis and treatment
in a noninvasive, ecologically valid manner. To date, the smart
beds have captured over 16 billion hours of proprietary data from
Sleep Number's Smart Sleeper community.
In October, Sleep Number will launch its newest breakthrough,
the Climate360™ smart bed, the only smart bed to actively cool,
warm and effortlessly respond to each sleeper*. Informed by the
latest in sleep science, the Climate360 smart bed helps address
temperature during sleep, with 80% of couples reporting one or both
partners sleep too hot or cold. The result is a
personalized microclimate that is designed to work with the body's
natural sleep cycles, keep each sleeper at their ideal temperature
and help deepen sleep.
Complementing Sleep Number's expertise, Synchrony's leadership
in deriving data-driven insights from consumer purchase and credit
data will enable the companies to deliver on the next generation of
credit decisioning and customer payment experience. This leadership
is pivotal to making the health and wellness benefits of the 360
smart bed widely accessible and attainable to more sleepers.
For more information about Sleep Number, visit SleepNumber.com.
For more information about Synchrony, visit Synchrony.com.
*Based on use of temperature features and our proprietary
Responsive Air® technology.
About Sleep Number Corporation
Sleep Number is a
leader in sleep and wellness technology. Our 360 smart bed
platform connects the physical and digital worlds, creating an
immersive, adaptive, and individualized sleep health experience.
Quality sleep is vital for physical, mental, and emotional
wellbeing; our smart beds deliver exceptional sleep by
automatically sensing and effortlessly adjusting to the needs of
each sleeper. Through partnerships with the world's leading health
and research institutions, we are advancing sleep science with our
16 billion hours of highly accurate, longitudinal sleep data from
millions of sleepers in our Smart Sleeper community.
Sleep Number is a company with purpose, with over 5,500
mission-driven team members who are dedicated to improving the
health and wellbeing of society through higher quality sleep. We
have improved more than 14 million lives and are committed to
lifelong relationships with our smart sleepers.
For life-changing sleep, visit SleepNumber.com or one
of our almost 675 Sleep Number® stores. More information
is available on our newsroom and investor
relations sites.
About Synchrony
Synchrony (NYSE: SYF) is a
premier consumer financial services company delivering one of the
industry's most complete digitally-enabled product suites. Our
experience, expertise and scale encompass a broad spectrum of
industries including digital, health and wellness, retail,
telecommunications, home, auto, outdoor, pet and more. We have an
established and diverse group of national and regional retailers,
local merchants, manufacturers, buying groups, industry
associations and healthcare service providers, which we refer to as
our "partners." We connect our partners and consumers through
our dynamic financial ecosystem and provide them with a diverse set
of financing solutions and innovative digital capabilities to
address their specific needs and deliver seamless, omnichannel
experiences. We offer the right financing products to the right
customers in their channel of choice. For more information,
visit www.synchrony.com and Twitter: @Synchrony.
Forward-looking Statements
Statements used in
this news release relating to future plans, events or performance
such as planned areas of collaboration are forward-looking
statements subject to certain risks and uncertainties. Additional
information concerning these and other risks and uncertainties is
contained in Sleep Number's filings with the Securities and
Exchange Commission (SEC), including the Annual Report on Form
10-K, and other periodic reports filed with the SEC. Neither Sleep
Number nor Synchrony has any obligation to publicly update or
revise any of the forward-looking statements in this news
release.
FOR MORE INFORMATION PLEASE
CONTACT:
Michelle
Blaya
Synchrony
Michelle.Blaya@syf.com
626.250.1415
Julie Elepano
Sleep Number
Julie.Elepano@sleepnumber.com
Nichole Teixeira
Sleep Number
Nichole.Teixeira@sleepnumber.com
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SOURCE Synchrony