Afterpay Unveils New 'DROPSHOP' with Exclusive Early Access to Nike Air Max

Rhea-AI Summary

Afterpay (ASX: APT) has launched 'The DROPSHOP', a global platform providing exclusive access to limited edition merchandise and experiences. The inaugural drop features early access to the Nike AIR MAX 90 sneakers through a collaboration with Finish Line, available from April 27 to May 2, 2021, for $120. This platform leverages Snapchat's augmented reality technology, allowing users to virtually try on sneakers. Afterpay serves nearly 15 million customers globally and partners with approximately 86,000 retailers, aimed at enhancing consumer shopping experiences while promoting responsible spending.

Positive

• Launch of 'The DROPSHOP' enhances the brand's innovative approach to retail.
• Collaboration with Snapchat for AR technology positions Afterpay at the forefront of digital retail.
• Initial drop includes a limited edition Nike AIR MAX 90, appealing to fashion-conscious consumers.

Negative

• None.

SAN FRANCISCO, April 27, 2021 /PRNewswire/ -- Afterpay (ASX: APT), the leader in "Buy Now, Pay Later" payments, today announced the launch of  'The DROPSHOP by Afterpay.' This new global platform unlocks exclusive access to limited edition merchandise, offers and experiences that are only available with Afterpay. The DROPSHOP will connect Afterpay's millions of customers with the best brands and retailers in the world - giving shoppers instant access with the ability to use their own money and pay over time.  Available throughout the shopping season, The DROPSHOP is a place customers would line up for - but don't have to.

The first drop, in partnership with Finish Line, will give U.S. Afterpay consumers early access to a limited edition Nike AIR MAX 90 in a black, orange and silver color-way.  Shoppers can try on the sneakers virtually via an innovative new Snapchat augmented reality (AR) Lens- and Afterpay the shoes in just a few clicks through FinishLine.com. 

Afterpay has joined forces with Snapchat for this inaugural launch to power The DROPSHOP with this fresh way of shopping - via AR. Afterpay has  seen the impact that the pandemic has had on the way consumers interact with products, and shoppers have adapted to new ways of experiencing their favorite fashion and beauty items. Snapchat has pioneered a new way of doing this through their AR technology, making them the perfect launch partner for Afterpay.  

Geoff Seeley, Chief Marketing Officer at Afterpay said: "From day one, Afterpay has partnered with the best brands in the world to give our consumers access to the things they love without sacrificing financial control. We have an inherent understanding of how Millenials and Gen Zers shop, and we know that drop culture is a key interest for them. With The DROPSHOP, we are pushing the boundaries on how these consumers shop bringing them the latest and most innovative technology that paves the way for the future of shopping."

Stephen Anderson, Sr. Creative Strategist at Snap Inc., said: "We are thrilled to offer Snapchatters a new AR try-on Lens experience and kick off Afterpay's first-ever DROPSHOP program. The near-limitless possibilities of AR make it a perfect format for product drops like this, and our innovative partnership with Afterpay brings Snapchatters a whole new way to shop. We look forward to our community enjoying the exclusive Nikes – both in AR and in real life."

The Nike AIR MAX will be available to customers using Afterpay at Finish Line April 27 through May 2, 2021 for $120 plus tax and shipping, while supplies last. Finish Line will bring the product to consumers through their Global Access platform. Global Access, powered by JD Sports, unlocks elite global styles locally.  For more information about The DROPSHOP featuring the Nike AIR MAX 90, please visit Afterpay's DROPSHOP.

About Afterpay Limited

Afterpay Limited (ASX: APT) is transforming the way we pay by allowing customers to receive products immediately and pay for their purchases over four installments, always interest-free. The service is completely free for customers who pay on time - helping people spend responsibly without incurring interest, fees or extended debt. As of March 2021, Afterpay is offered by nearly 86,000 of the world's favourite retailers, and is used by nearly 15 million active customers globally.  

Afterpay is currently available in Australia, Canada, New Zealand, the United States and the United Kingdom, France, Italy and Spain, where it is known as Clearpay. Afterpay is on a mission to power an economy in which everyone wins.

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SOURCE Afterpay

FAQ

What is 'The DROPSHOP' by Afterpay?

'The DROPSHOP' is a global platform launched by Afterpay offering exclusive access to limited edition merchandise and experiences.

When is the Nike AIR MAX 90 available on Afterpay's DROPSHOP?

The Nike AIR MAX 90 is available from April 27 to May 2, 2021, on Afterpay's DROPSHOP.

How can I access the limited edition merchandise on Afterpay's DROPSHOP?

Consumers can access limited edition merchandise on Afterpay's DROPSHOP by using Afterpay for purchases.

What is the price of the Nike AIR MAX 90 on Afterpay's DROPSHOP?

The Nike AIR MAX 90 is priced at $120, plus tax and shipping, while supplies last.

How does Afterpay's DROPSHOP utilize augmented reality?

Afterpay's DROPSHOP allows users to virtually try on sneakers using Snapchat's augmented reality technology.