Partnership Expands Payment Choices with
Private Label and Dual Card Credit Programs for KnitWell's Fashion
Brands' Customers
STAMFORD, Conn., Jan. 22,
2025 /PRNewswire/ -- KnitWell Group, a leading
portfolio of iconic American fashion brands, has selected Synchrony
(NYSE: SYF), a premier consumer financial services company, as a
strategic provider for consumer financing. The multi-year
partnership includes rewards and flexible financing options for
three brands — Chico's, WHBM and Soma.
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