Afterpay and Sephora Canada partner to bring prestige beauty to Canadian shoppers

Rhea-AI Summary

Afterpay has expanded its services into Canada, partnering with Sephora Canada to offer flexible payment options for over 340 beauty and skincare brands available on Sephora.ca. Canadian customers can now pay for their purchases in four instalments, enhancing accessibility for beauty products. The initiative aligns with Afterpay's mission to empower consumers with financial wellness while shopping. Over 20 million active users worldwide benefit from Afterpay's innovative payment model.

Positive

• Partnership with Sephora Canada enhances Afterpay's market reach into the Canadian beauty sector.
• Allows customers to pay in four instalments, increasing accessibility to premium beauty products.
• Expands Afterpay's footprint, connecting them with a growing consumer base in Canada.

Negative

• None.

Canadians can now use the flexible budgeting tool to shop more than 340 beauty and skincare brands available on Sephora.ca.

TORONTO--(BUSINESS WIRE)-- Today Afterpay, the leader in “Buy Now, Pay Later” (BNPL) payments, announced its Canadian partnership with Sephora Canada, the leading prestige omni beauty retailer. Canadian customers now have the flexibility to pay in four instalments when shopping for their favourite beauty brands and products online.

“We are thrilled to expand our partnership with Afterpay into Canada, which supports our ongoing commitment to offer our clients the flexibility and convenience to shop when and how they want,” says Laura Unger, vice president and general manager e-commerce, Sephora Canada. “It is paramount for us to continue providing our existing clients and first-time Sephora Canada shoppers with innovative payment options and flexible solutions, ensuring the best in beauty is accessible to everyone.”

Canadian Sephora shoppers can Afterpay more than 340 curated brands including Tatcha, Olaplex, Briogeo, Rare Beauty, Maison Margiela and Sephora’s beloved SEPHORA COLLECTION products. The partnership will make thousands of products accessible to more Canadian customers by offering them the option to pay over time with Afterpay online at Sephora.ca, and via the Afterpay app and Sephora app.

“Our partnership with Sephora Canada underscores our core mission at Afterpay, which has always been to empower customers to access the things they want and need, while still allowing them to maintain financial wellness and control. As the next generation of consumers demand more payment options, we’re thrilled to partner with Sephora Canada and connect them with our group of highly-engaged customers to shop at its many prestige beauty brands flexibly,” says Ryann Carruthers, general manager, Afterpay Canada.

More than 20 million active global customers use Afterpay at over 144,000 of the world’s favourite retailers to purchase the things they want and need most without falling into revolving credit card debt.¹ To learn more about Afterpay and how it has transformed the way consumers shop – online and in-stores at the best brands around the world – visit newsroom.afterpay.com. For more information on Sephora’s products and services, visit: www.sephora.ca/about-us and follow @SephoraCanada on social media.

About Sephora Americas

Since its debut in North America more than 20 years ago, Sephora has been a leader in prestige omni-retail with the mission of creating an inviting beauty shopping experience and inspiring fearlessness in our community. With the goal of delivering unbiased shopping support and a personalised experience, Sephora invites clients to discover thousands of products from more than 340 carefully curated brands, explore online and through our mobile app, enjoy services at the Beauty Studio and engage with expertly trained beauty advisors in over 500 stores across the Americas, including over 95 stores across Canada. Clients can access the free-to-join Beauty Insider program and digital community, which together enhance the experience of Sephora's passionate clients. Sephora has been an industry-leading champion of diversity, inclusivity, and empowerment, guided by our longstanding company values. In 2019, Sephora announced a new tagline and manifesto, "We Belong to Something Beautiful," to reinforce its dedication to fostering belonging amongst all clients and employees and to publicly strive for a more inclusive vision for retail in the Americas. Sephora continues to give back to our communities and advance inclusion in our industry through its social impact and equity programming, called the Sephora D&I Heart Journey. For more information, visit: https://www.sephora.ca/about-us and @SephoraCanada on social media.

About Afterpay Limited

Afterpay Limited is transforming the way we pay by allowing customers to buy products immediately and pay for their purchases over four instalments². The service is completely free - helping people spend responsibly by paying over six weeks without incurring interest². Afterpay is offered by thousands of the world’s favourite retailers and used by millions of active global customers¹.

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. Afterpay is a wholly owned subsidiary of Block, Inc. (NYSE: SQ).

¹Annual active global customers and merchant figures as of March 31, 2022
²Eligibility criteria apply. See afterpay.com/en-ca for full terms.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220929005219/en/

Heidi Ruggier

afterpay@mattepr.com

Daphne Duong

dduong@squareup.com

Source: Afterpay Limited

FAQ

What is the new partnership announced between Afterpay and Sephora Canada?

Afterpay has partnered with Sephora Canada to allow customers to pay for beauty products in four instalments.

How many beauty brands can Canadian customers shop using Afterpay?

Customers can shop over 340 beauty and skincare brands using Afterpay at Sephora Canada.

What payment system does Afterpay offer for Sephora customers in Canada?

Afterpay offers a "Buy Now, Pay Later" system, enabling customers to pay in four instalments.

What are Afterpay's global customer statistics?

Afterpay has more than 20 million active global customers using its services.

What is the stock symbol for Afterpay's parent company?

Afterpay is a wholly owned subsidiary of Block, Inc., which trades under the stock symbol SQ.