Crate and Barrel Partners with Synchrony to Offer Customers New Retail Financing Options
April 11 2018 - 10:00AM
Business Wire
Partnership Expands Consumer Choice with
Private Label and New Dual Card Credit Programs
Crate and Barrel, a global home furnishings retailer, has
selected Synchrony (NYSE:SYF) a premier consumer financial services
company, as its strategic provider of consumer financing, the two
companies announced. The partnership provides financing options
that will reward customers for loyalty and offer flexible financing
in nearly 100 Crate and Barrel stores in major North American
markets and digital channels.
Crate and Barrel will partner with Synchrony on a private label
credit card and a new dual-branded card. The dual-branded card will
allow customers to earn rewards for purchases anywhere Mastercard
is accepted.
“In making our selection, we were seeking a trusted partner that
could provide both expertise in consumer financing as well as
digital tools to help us continuously enhance the customer
experience,” said Kevin Sierks, CFO at Crate and Barrel. “With
quality products and expert tips for inspired living, Crate and
Barrel is passionate about helping people love how they live in
moments that matter – and Synchrony’s offerings will make it easier
for our customers to achieve those moments.”
“Crate and Barrel is an innovative, customer-focused
organization seeking to provide its customers with the best
products and services,” said Tom Quindlen, executive vice
president, CEO, Retail Card at Synchrony. “By partnering with
Synchrony, Crate and Barrel will have access to the some of the
best data analysts and industry experts in the world to help them
grow their business.”
The new Synchrony-backed credit cards and key features of the
program are expected to be issued later this year.
About Crate and Barrel
Crate and Barrel is an industry-leading home furnishings
specialty retailer, known for its exclusive designs, excellent
value and superb customer service. In addition to a thriving direct
marketing division that services more than 90 countries, the
company operates stores throughout the U.S. and Canada as well as
international franchise locations around the globe. Working
directly with European ateliers and factories, Crate and Barrel was
among the first to introduce affordable household goods and
contemporary home décor to American consumers. Founded in 1962, the
brand's essence has translated perfectly to the omnichannel era 55
years after opening its first store. Crate and Barrel and CB2 are
owned by Otto Group, a global retail and services group based in
Hamburg, Germany.
About Synchrony
Synchrony (NYSE:SYF) is a premier consumer financial
services company delivering customized financing programs across
key industries including retail, health, auto, travel and home,
along with award-winning consumer banking products. With more than
$130 billion in sales financed and 74.5 million active accounts,
Synchrony brings deep industry expertise, actionable data insights,
innovative solutions and differentiated digital experiences to
improve the success of every business we serve and the quality of
each life we touch. More information can be found
at www.synchronyfinancial.com and through Twitter:
@Synchrony.
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version on businesswire.com: https://www.businesswire.com/news/home/20180411005195/en/
Crate and BarrelJill Assad, 847-239-6181Senior Director,
Corporate
Communicationsjassad@crateandbarrel.comorSynchronyNicole
Ward, 203-585-2933Corporate Public Relations
ManagerNicole.Ward@SYF.com@NWardsays
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