H&M invests $20m in Klarna partnership
Written by Peter Walker
H&M has invested $20 million into a global partnership with Klarna to integrate the fashion retailer’s digital and physical stores to give a seamless, personalised and engaging shopping experience.
Klarna’s payment platform will power frictionless in-store, mobile and online payments, simplified deliveries and returns, along with the ‘try before you buy’ Pay later service. All of these will be integrated into the next generation of the H&M app and H&M Club.
The first phase of the partnership will begin in the UK and Sweden early next year. The H&M group will also make an equity investment in Klarna.
Daniel Claesson, head of business development H&M group, said: “We want to make it possible for customers to move freely between the various channels and choose how they want to shop and experience our offering online and instore.”
Klarna chief executive and co-founder Sebastian Siemiatkowski added: “Customers will no longer be forgiving of unnecessary complexity or when their retail experience does not leverage the insight available to make their engagement smart, personal and easy.”