By Oliver Smith on Thursday 18 July 2019
A slam-dunk for Klarna, but table stakes for Superdry.
Pay-later provider Klarna has signed a partnership with British fashion brand Superdry to offer its checkout credit services to UK online customers.
The news comes after Superdry co-founder Julian Dunkerton returned to the business as interim CEO in April and announced an “aggressive” 24-month turnaround plan for the brand which lost £85.4m last year.
Later this year Superdry will add Klarna to its US checkout and other international markets.
“We can’t wait to see the reaction to flexible and alternative payments, as we strive to provide the best experience for our customers,” said Superdry’s Head of Ecommerce Charlotte Wilson.
With boardroom battles and bitter feuds behind it at a corporate level, clearly part of Dunkerton’s strategy will be bolstering Superdry’s online offering, as well as the already announced scrapping of its children’s wear.
For Superdry offering a pay-later option is fast becoming table stakes in e-commerce, while for Klarna the deal yet again strengthens their grip as the default pay-later provider in Europe.