KnitWell Group, Synchrony and Mastercard Partner to Offer Shoppers More Ways to Pay for Apparel and Accessories at Chico's, WHBM and Soma
KnitWell Group has partnered with Synchrony (NYSE: SYF) and Mastercard to provide enhanced payment options for customers of Chico's, WHBM, and Soma brands. The multi-year partnership will introduce both private label credit cards and dual-branded Mastercard options for each brand, launching in September 2025.
The dual-branded cards will enable customers to earn rewards not only at KnitWell's fashion brands but anywhere Mastercard is accepted. The partnership aims to drive customer experiences, loyalty, repeat purchases, and overall sales through Synchrony's advanced analytics capability, flexible financing options, and omnichannel application experience.
KnitWell Group ha stretto una partnership con Synchrony (NYSE: SYF) e Mastercard per offrire opzioni di pagamento migliorate ai clienti dei marchi Chico's, WHBM e Soma. La partnership pluriennale introdurrà sia carte di credito a marchio privato che opzioni di Mastercard co-brandizzate per ciascun marchio, con lancio previsto per settembre 2025.
Le carte co-brandizzate permetteranno ai clienti di guadagnare premi non solo presso i marchi di moda KnitWell, ma anche in qualsiasi luogo in cui Mastercard è accettata. L’obiettivo della partnership è migliorare l'esperienza dei clienti, la fedeltà, gli acquisti ripetuti e le vendite complessive attraverso le capacità analitiche avanzate di Synchrony, opzioni di finanziamento flessibili e un'esperienza di applicazione omnicanale.
KnitWell Group se ha asociado con Synchrony (NYSE: SYF) y Mastercard para ofrecer opciones de pago mejoradas a los clientes de las marcas Chico's, WHBM y Soma. La asociación a largo plazo introducirá tanto tarjetas de crédito de marca privada como opciones de Mastercard co-marcadas para cada marca, con lanzamiento programado para septiembre de 2025.
Las tarjetas co-marcadas permitirán a los clientes ganar recompensas no solo en las marcas de moda de KnitWell, sino en cualquier lugar donde se acepte Mastercard. La asociación tiene como objetivo mejorar la experiencia del cliente, la lealtad, las compras repetidas y las ventas generales a través de la capacidad analítica avanzada de Synchrony, opciones de financiamiento flexible y una experiencia de aplicación omnicanal.
KnitWell Group은 Synchrony (NYSE: SYF) 및 Mastercard와 협력하여 Chico's, WHBM 및 Soma 브랜드 고객을 위한 향상된 결제 옵션을 제공합니다. 이번 다년간의 파트너십은 각 브랜드에 대해 프라이빗 레이블 신용 카드와 듀얼 브랜드 Mastercard 옵션을 도입하며, 2025년 9월에 출시될 예정입니다.
듀얼 브랜드 카드는 고객이 KnitWell의 패션 브랜드뿐 아니라 Mastercard가 수용되는 곳이면 어디에서나 보상을 적립할 수 있게 해줍니다. 파트너십의 목표는 Synchrony의 고급 분석 기능, 유연한 금융 옵션, 옴니채널 애플리케이션 경험을 통해 고객 경험, 충성도, 반복 구매 및 전체 매출을 촉진하는 것입니다.
KnitWell Group a établi un partenariat avec Synchrony (NYSE: SYF) et Mastercard pour offrir des options de paiement améliorées aux clients des marques Chico's, WHBM et Soma. Ce partenariat pluriannuel introduira à la fois des cartes de crédit à marque privée et des options Mastercard co-marquées pour chaque marque, avec un lancement prévu en septembre 2025.
Les cartes co-marquées permettront aux clients de gagner des récompenses non seulement chez les marques de mode de KnitWell, mais aussi partout où Mastercard est acceptée. L'objectif du partenariat est d'améliorer l'expérience client, la fidélité, les achats répétés et les ventes globales grâce aux capacités analytiques avancées de Synchrony, à des options de financement flexibles et à une expérience de demande omnicanale.
KnitWell Group hat sich mit Synchrony (NYSE: SYF) und Mastercard zusammengeschlossen, um verbesserte Zahlungsoptionen für die Kunden der Marken Chico's, WHBM und Soma anzubieten. Die mehrjährige Partnerschaft wird sowohl private Kreditkarten als auch dual-brand Mastercard-Optionen für jede Marke einführen, die im September 2025 auf den Markt kommen.
Die dual-brand Karten ermöglichen es den Kunden, Belohnungen nicht nur bei KnitWells Mode-Marken, sondern überall dort zu sammeln, wo Mastercard akzeptiert wird. Ziel der Partnerschaft ist es, die Kundenerfahrungen, die Loyalität, die Wiederholungskäufe und den Gesamtumsatz durch Synchronys fortschrittliche Analysefähigkeit, flexible Finanzierungsoptionen und ein Omnichannel-Anwendungserlebnis zu steigern.
- New revenue stream through credit card partnership
- Enhanced customer loyalty program through rewards system
- Multiple payment options increasing accessibility for customers
- Strategic partnership with major financial institutions
- None.
Insights
This strategic partnership marks a significant expansion of Synchrony's retail credit portfolio, adding three established fashion brands under the KnitWell Group umbrella. The deal encompasses both private label cards and Mastercard dual-branded options, effectively creating six new credit programs that will contribute to Synchrony's revenue streams through interest income, merchant fees and interchange revenues.
The timing of this partnership is particularly strategic, launching in September 2025, allowing for proper integration and marketing preparation. The fashion retail sector typically sees higher average transaction values compared to general retail, which could translate into more substantial credit utilization and potentially higher interest income for Synchrony.
From a competitive standpoint, this partnership strengthens Synchrony's position in the retail financing space, where they compete with other major players like Citi Retail Services and Alliance Data Systems. The integration of both private label and dual-branded cards provides a comprehensive solution that can drive customer loyalty while offering flexibility in payment options.
The partnership's value proposition extends beyond traditional credit offerings through:
- Advanced analytics capabilities for targeted marketing and risk management
- Omnichannel application experience, essential for modern retail operations
- Flexible financing options to drive higher average transaction values
- Rewards program integration to encourage repeat purchases
While specific financial projections aren't disclosed, similar retail credit partnerships typically represent meaningful growth opportunities for credit card issuers, potentially adding several hundred million in purchase volume annually once fully ramped up.
Partnership Expands Payment Choices with Private Label and Dual Card Credit Programs for KnitWell's Fashion Brands' Customers
Synchrony will partner with KnitWell Group on a private label credit card and a Mastercard powered dual-branded card for each brand. The dual-branded card will allow customers to earn rewards for purchases anywhere Mastercard is accepted.
"In making our selection, we were seeking a trusted partner that could help us drive customer experiences, loyalty, repeat purchases and overall sales," said Paul Lazorisak, Senior Vice President, Performance Marketing, CRM & Loyalty, KnitWell Group. "Synchrony will empower our brands to achieve these goals through its advanced analytics capability, flexible financing options and omnichannel application experience."
"KnitWell Group's commitment to innovation and collaboration results in exceptional products and memorable experiences for customers," said Darrell Owens, Executive Vice President and Chief Executive Officer, Lifestyle, Synchrony. "Together, we aim to enable customers to purchase the products they want while helping KnitWell Group grow their business."
"Mastercard is committed to empowering consumers with secure, seamless, and rewarding payment experiences that enhance their loyalty to the brands they love," said Chiro Aikat, Co-President, Mastercard US. "By collaborating with Synchrony and KnitWell Group, we're helping to deliver innovative solutions that not only make shopping easier and safer but also provide meaningful benefits for customers of Chico's, WHBM and Soma — wherever their passions take them." The new Synchrony-backed credit cards and key features of the program are expected to be issued in September 2025.
About Synchrony
Synchrony (NYSE: SYF) is a premier consumer financial services company delivering one of the industry's most complete digitally-enabled product suites. Our experience, expertise and scale encompass a broad spectrum of industries including digital, health and wellness, retail, telecommunications, home, auto, outdoor, pet and more. We have an established and diverse group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations and healthcare service providers, which we refer to as our "partners." We connect our partners and consumers through our dynamic financial ecosystem and provide them with a diverse set of financing solutions and innovative digital capabilities to address their specific needs and deliver seamless, omnichannel experiences. We offer the right financing products to the right customers in their channel of choice. For more information, visit www.synchrony.com.
Contact:
Michelle Blaya Romero
Synchrony
Michelle.Romero@syf.com
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SOURCE Synchrony Financial
FAQ
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