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H&M invests $20m in Klarna, plans tech rollout

H&M and Klarna announce that they have entered into “a global  partnership”, which will see the former integrate Klarna technology across its retail operations and gain a $20 million investment.

Klarna’s platform will enable end-to-end customer journey across all H&M channels, according to the vendor.  This will include “frictionless” in-store, mobile and online payments, deliveries and returns, and the flexibility to decide how and when to pay.

All of these will be integrated into the next generation of the H&M app and H&M Club. The result will be an “inspiring, relevant and convenient experience” for millions of customers across 14 H&M markets. The UK and Sweden are expected to be the first markets to go live.

“Retail is changing, and  the future of fashion retail is high tech powering high touch experiences for customers. Regardless of how and when customers want to shop, we need to be there for them. Customers will no longer be  forgiving  of  unnecessary complexity or when their retail experience does not leverage the insight available to make their engagement smart, personal and easy,” said Sebastian Siemiatkowski, CEO and co-founder of Klarna.

“This partnership is rooted in a shared obsession about just how good that shopping experience should be. Together we have worked hard on developing a unique solution for instore and online that will delight customers, drive economic value and build loyalty.”

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