Rebecca Minkoff taps Australian platform Afterpay to attract younger shoppers
On October 3, the global fashion and lifestyle brand Rebecca Minkoff announced a partnership with Australian payment platform Afterpay, that allows products to be paid for in interest-free lots, attracting millennials.
The partnership, which launched alongside the brand’s new “I Am Many” campaign, allows customers to purchase products from Rebecca Minkoff and pay for them afterwards in four instalments with Afterpay. The service has no upfront fees and is also interest-free and is particularly aimed at the brand’s younger audience. Shoppers receive the product instantly, before paying it off.
“We are eager to announce our partnership with Afterpay and the opportunity to offer our consumers an even more efficient way to shop our e-commerce and digital platforms,” Uri Minkoff, CEO and Co-Founder of the brand, said in a press release. “As we continue to cater to and attract a broader millennial audience, we believe Afterpay will align with their purchasing patterns and online engagement.”
“As we continue to expand our footprint across the U.S., we are thrilled to partner with Rebecca Minkoff, a company committed to bringing the best shopping experiences to its customers through innovation,” said Nick Molnar, CEO and Co-Founder of Afterpay in a press release. “We have traditionally seen brands and retailers increase conversion rates and incremental sales by 20-30 percent after implementing Afterpay and are eager to bring those benefits to Rebecca Minkoff and its fashion-forward, modern customers.”
Afterpay has already signed over 1,000 brands up with its services in the U.S. including fashion retailers such as Urban Outfitters and Revolve.
The business also processes over 25 percent of all fashion and beauty transactions in Australia for brands including Lululemon, Estée Lauder, and Stylerunner.
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