Affirm Partners with Oscar de la Renta for a New Way to Shop the Latest Styles
Shoppers can now pay over time with simple monthly payments
SAN FRANCISCO – May 18, 2020 – Affirm, the leading buy now, pay later solution, today announced a partnership with iconic fashion house Oscar de la Renta that will enable shoppers to purchase runway styles online and pay for them over time. Now shoppers can split the total cost of their purchase on oscardelarenta.com into simple monthly payments with no hidden or late fees.
“At Oscar de la Renta, we’re committed to innovation and strive to adopt any technology that enhances the shopping experience for our customers. We're excited to partner with Affirm to offer the modern payment option and the best end-to-end shopping experience."- Alex Bolen, CEO of Oscar de la Renta
“At Affirm, over 50 percent of our 5.3M users are Millennial and Gen Z consumers. By working with iconic partners like Oscar de la Renta, we’re giving these younger consumers the opportunity to buy the styles they’ve always wanted in a responsible way,” said Silvija Martincevic, Chief Commercial Officer at Affirm. “We are thrilled to partner with Oscar de la Renta to help more shoppers get their dream looks today--whether that’s a dress for a friend’s wedding, a gift for their child, or a new outfit or accessory.”
Oscar de la Renta joins Affirm’s network of more than 4,000 retail partners with over 900 leading fashion brands such as David Yurman, Khaite, LuisaViaRoma, La Garconne, Moda Operandi and Tamara Mellon. Affirm approves on average 20% more customers than its competitors and Affirm merchants typically see an 85% increase in average order value.
According to a study* conducted by Affirm, today, over half of Americans are looking for flexible payment solutions. The report also revealed that 38% of shoppers are making an effort to purchase higher quality items in lieu of fast fashion. As a result, when presented with the ability to use Affirm, partners like Oscar de la Renta are able to gain high-LTV customers earlier.
Affirm was founded with the goal of creating honest financial products and services that empower consumers and improve lives. Our goal is to revolutionize the banking industry to be more accountable and accessible to consumers. Today, Affirm provides millions of shoppers an alternative to traditional credit cards at the point of sale, giving them the flexibility to buy now and make simple monthly payments for their purchases. Unlike payment options that have compounding interest and unexpected costs, Affirm shows consumers upfront exactly what they’ll pay each month — with no hidden fees and no surprises. Affirm gives over 5.3M shoppers the ability to pay over time at any store and also partners with over 4,000 merchants including well-known brands across home and lifestyle, personal fitness, electronics, apparel, beauty, and more. Loans are made in partnership with Affirm’s originating bank partner Cross River Bank, Member FDIC.
About Oscar de la Renta
Established in New York City in 1965, Oscar de la Renta is one of the world’s leading luxury brands. In addition to its internationally renowned women’s ready-to-wear collection, the house encompasses a full line of women’s accessories, bridal, children’s, fragrance and home décor.
*The online survey was conducted by Affirm/Qualtrics from July 11, 2019 to July 12, 2019, among a demographically representative sample of 1,206 Americans aged 18 to 54.