Affirm Brings Customers a New Way to Buy Theory’s Modern Sportswear

Rhea-AI Summary

Affirm (NASDAQ: AFRM) has expanded its payment options, allowing consumers to purchase Theory's sportswear and accessories in four biweekly interest-free payments with no hidden fees. Customers spending over $50 can benefit from this flexible payment method, enhancing their shopping experience on theory.com. This partnership aims to increase sales and customer retention, with merchants using Affirm reporting 85% higher average order values. Affirm's mission focuses on providing transparent financial products that empower consumer spending.

Positive

• Partnership with Theory enhances Affirm's consumer reach.
• Merchants using Affirm reported 85% higher average order values.
• Providing flexible, interest-free payment options can increase sales for Theory.

Negative

• None.

Consumers can now buy Theory’s line of expertly tailored pieces in four biweekly interest-free payments, with no hidden or late fees

SAN FRANCISCO--(BUSINESS WIRE)-- Affirm (NASDAQ: AFRM), the payment network that empowers consumers and helps merchants drive growth, today announced that it is expanding its offering to now be accepted by Theory, the New York founded label of sleek sportswear and accessories. Now, eligible consumers can shop Theory’s collection of stylish men’s and women’s sportswear, handbags, shoes and more, while paying over time.

Affirm partners with Theory (Graphic: Business Wire)

By selecting Affirm at checkout on theory.com, approved customers can split the total cost of any purchase of $50 or more into four biweekly, interest-free payments. Shoppers are shown the total cost of their purchase and will never pay more than they agree to up front, as Affirm never charges any late or hidden fees.

“Theory’s brand has earned a devoted following with its modern, fashion-forward sportswear designed to make anyone look and feel their best,” says Silvija Martincevic, Affirm’s Chief Commercial Officer. “Customers can now use Affirm to pay over time and revitalize their wardrobe without interest or hidden fees, giving them a flexible and transparent option to buy a sleek new pair of pants, or sophisticated top, stress-free.”

Affirm partners with more than 29,000 retailers. Offering Affirm at checkout can drive overall sales, increase average order value, and increase customer repurchase rates. In 2019, merchants using Affirm reported 85% higher average order values when compared to other payment methods, and in 2020 nearly 67% of purchases were made by repeat Affirm customers.

About Affirm

Affirm’s mission is to deliver honest financial products that improve lives. By building a new kind of payment network — one based on trust, transparency and putting people first — we empower millions of consumers to spend and save responsibly, and give thousands of businesses the tools to fuel growth. Unlike credit cards and other pay-over-time options, we show consumers exactly what they will pay up front, never increase that amount, and never charge any late or hidden fees. Follow Affirm on social media: LinkedIn | Instagram | Facebook | Twitter.

About Theory

In 1997 Theory revolutionized the contemporary fashion market with its concept of the urban uniform. Headquartered in New York City and a leader in Fast Retailing Group’s brand portfolio, the brand balances luxury with accessibility in collections that are known for their exceptional fits, innovative fabrics, and enduring styles.

Payment options through Affirm are subject to eligibility, and are provided by these lending partners: affirm.com/lenders. CA residents: Loans by Affirm Loan Services, LLC are made or arranged pursuant to California Finance Lender license 60DBO-111681.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211021005961/en/

Press Contact

Alex Rafter

press@affirm.com

(650)398-2715

Source: Affirm

FAQ

What is the new payment option announced by Affirm for Theory?

Consumers can buy Theory's sportswear in four biweekly interest-free payments with no hidden fees.

How can customers shop with Affirm at Theory?

Customers can select Affirm at checkout on theory.com for purchases over $50.

What benefits does Affirm offer to merchants?

Merchants using Affirm reported 85% higher average order values and increased customer repurchase rates.

What is the stock symbol for Affirm?

Affirm's stock symbol is AFRM.