Klarna expands US luxury partnerships with Burberry, Charlotte Tilbury, Balenciaga, Fwrd, Platform, and more as demand for flexible payments among high-end shoppers soars.
Despite navigating unprecedented challenges in recent years, the global luxury goods industry is trending up, projected to reach over $382 billion in 2025. Driving this growth is the largest global market for luxury goods, the United States, with a market size of over $71 billion. And the fast-growing luxury market of today looks very different than it did just a few years ago, due in part to the lasting impact of the pandemic and a growing demographic of younger luxury shoppers with new tastes and preferences.
Premium experiences are now centered around convenience and flexibility throughout every step of the shopping journey, from browsing to checkout–with demand for flexible payment options soaring.
Klarna has seen its presence within the US luxury retail market expand rapidly, forming new partnerships with brands across the fashion, art, beauty, and accessories spaces, including:
- Burberry: British luxury fashion house Burberry offers ready-to-wear, including its iconic trench coats, as well as leather goods, footwear, fashion accessories, eyewear, fragrances, and cosmetics. Klarna is available to registered Burberry customers.
- FWRD: FWRD transcends traditional e-commerce with its combination of first-class customer service and an elusive roster of designers. Ranging from iconic Maisons de Couture to the latest emerging talents, style’s top names are here, shot in ever-evolving and striking editorial imagery.
- Balenciaga: As one of the biggest names in fashion, high-end luxury fashion house Balenciaga offers everything from sneakers, handbags, and ready-to-wear for women and men.
- Charlotte Tilbury: Founded by British makeup artist Charlotte Tilbury, the luxurious cult-favorite skincare and beauty brand carries everything from eyeshadow to facial oil.
- Dior Cosmetics: Dior is best known for revolutionizing the luxury women’s fashion and beauty spaces. Dior Cosmetics offers a variety of high-end products for both men and women, from fragrance to makeup and skincare.
- Sophia Webster: Founded by British luxury accessories designer Sophia Webster, the fashionable footwear designer is famous for its fun and unique colorways and embellishments.
- Bob’s Watches: Founded in 1999, Bob’s Watches is the leading online marketplace for buying, selling, and trading used Rolex watches for men and women.
- PLATFORM: PLATFORM is the e-commerce destination for buying art from today’s most sought-after artists. PLATFORM brings new limited-time selections of artworks for purchase at the beginning of each month, chosen in partnership with world-renowned gallery David Zwirner.
- Hublot: Through its designs, materials, and movements, Swiss luxury watchmaker Hublot stands out with its “Art of Fusion” and visionary spirit.
- Delvaux: Founded in 1829 in Brussels, Delvaux is one of the oldest fine leather luxury companies in the world, with fashionable products include handbags, small leather goods, and accessories.
- Montblanc: A global leader in luxury accessories, uniting fine European craftsmanship with time-honored designs, bringing pieces to life that emanate classic heritage and refined creation.
- RIMOWA: World-renowned high-quality luggage maker RIMOWA offers modern travelers practical metal and polycarbonate luggage. Known for its iconic design—the grooved suitcase is available in various colors and sizes.
- YOOX NET-A-PORTER Group: As the world’s leading online luxury and fashion retailer, YOOX NET-A-PORTER connects shoppers with the joy of luxury and fashion, lasting a lifetime and beyond. It combines a curated edit of the world’s most coveted brands NET-A-PORTER, MR PORTER, YOOX, and THE OUTNET, with personalized end-to-end service, all shaped by 20 years of insights into the modern shopper.
“Alternative payment options like Klarna are now the status quo for retailers,” said Bettina Huang, General Manager and Head of PLATFORM, while discussing the high-end art sellers’ recent integration with Klarna.
According to Klarna’s 2022 US Luxury Report, 4 out of 5 (84%) luxury shoppers say they would find paying over time for high-end products helpful. Almost 90% of Gen Zers and Millennials shopping luxury products find significant value in the availability of flexible, interest-free payment options at checkout.
Klarna is thrilled to work with many of the luxury industry’s biggest names, bringing US consumers sustainable, flexible payment alternatives they desire and empowering them to save time and money, and make more informed financial decisions.