Klarna’s services will first be made available to customers of the Mr Porter brand in the US, UK and several European countries.
Klarna has very quickly become a staple of high street shopping, and now it’s looking to tap into the luxury shopping market.
The BNPL giant has teamed up with luxury online fashion platform Yoox Net-A-Porter to tap into a whole new demographic.
Under the new partnership, Klarna’s signature pay later and pay in three and four instalments services will be made available to Yoox Net-A-Porter’s 4.5m high-spending customers.
Brands across the Yoox Net-A-Porter portfolio will be able to offer customers Klarna’s flexible payment options, with Klarna’s payment options already being rolled out across the luxury shopping platform.
As it stands, Klarna is available across the Mr Porter brand in the US, UK, Germany, Austria, The Netherlands, Italy, Spain, Belgium and Finland with plans to roll it out further in the coming weeks.
Yoox Net-A-Porter’s 4.5m active customers will join Klarna’s 90m users, who complete 2m transactions daily.
Founded two decades ago, Yoox Net-A-Porter has cemented itself as the go-to destination for luxury shopping and is currently active in more than 180 countries.
Klarna is one of the most highly-valued fintechs in Europe, boasting a $45.6bn price tag, and has been on a shopping spree of its own recently.
Most recently, Klarna made its third acquisition in as many weeks, scooping up Swedish software-as-a-service platform APPRL.
Last month, news broke that Klarna had reportedly purchased German digital wallet fintech Stocard for around €110m.
Before that, the BNPL giant acquired social shopping platform Hero for an undisclosed amount.