Klarna in the news
Aug 4, 202111 min read

Meet Klarna’s Small Business Impact Initiative winners & their signature products.

Klarna K logo

by Klarna

It can be challenging to grow a small business under the best of circumstances. The ongoing pandemic has made it increasingly difficult for entrepreneurs to survive let alone thrive. Knowing small to mid-sized enterprises are the lifeblood of local communities, Klarna announced its Small Business Impact Initiative in May, which provides 1 free year of payment services and $40,000 worth of free media services to 100 small business to aid them in recovery. In mid-July, Klarna announced the first group of recipients.

We had a chance to learn a bit more about these retailers’ signature products and how Klarna’s Small Business Impact Initiative will help them going forward.

In the bag.

Specializing in certified, Italian vegetable tanned leather bags that boast a lifetime warranty, Satchel & Page designs its collection with clean, classic styling and durability. Founder Daniel Ralsky said the inspiration for his beloved bags came from the discovery of his grandfather’s 70-year-old map case, which retained its timeless beauty through World War II.

Satchel & Page’s signature item? “Our Counselor briefcase is our signature/most popular product,” said Ralsky. “With people getting back into the office, it’s been very popular recently.”

Coming this fall, Satchel & Page will feature a new hybrid bag that’s part briefcase, part portfolio with “loads of features and organization,” Ralsky noted.

Satchel & Page

How Klarna’s SBI initiative is helping:

“To give customers the option to split their purchase in four installments with zero interest or fees through Klarna is critical and differentiates us from several of our competitors,” Ralsky said. “Offering Klarna installments as an option at checkout has dramatically increased our conversion rates and we have seen a steady rise in the percent of our customers who checkout with Klarna.”

Doing good, tasting great.

Monique Rodriguez, founder and CEO of Old Salt Merchants, explains her lifelong love for flavors and ingredients began in early childhood as she explored her mother’s spice cabinet. In addition to sourcing and packaging unique bold flavors igniting the taste buds, Rodriguez focuses on helping those who need it most.

“We’ve partnered with No Kid Hungry to create a kit with 6 different salts and sugars,” Rodriguez explained. “Old Salt Merchants donates $10 from each sale to No Kid Hungry to help end childhood hunger. It’s a cause I’m very passionate about.”Old Salt Merchant

Which new product in the Old Salt collection is Rodriguez most excited to debut? “We recently released our new Peach Tea,” the entrepreneur said.It’s been incredibly popular. We have many fun ideas brewing for the gift-giving season later this year.”

Old Salt Merchant

How Klarna’s SBI initiative is helping:

“Klarna’s Small Business Impact Initiative provides a win-win opportunity,” said Rodriguez. “We anticipate it will significantly boost Old Salt Merchants’ online visibility and availability of our products to more customers. Our customers will also benefit by having a flexible payment option like Klarna at checkout.”

Changing the perception of sustainable fashion.

Paula Maldonado, founder and CEO of Dauntless, explained what motivated her to start her company. Her vision, she noted, was “to create a fashion label with products that would become the staple garments of your wardrobe that represented the importance of sustainable values and social responsibility.”

“Our signature products are our vegan leather biker jackets,” Maldonado said. “However, we as a team are most proud of is the Moto I Biker. It has been our MVP since the company was founded, a true classic.”

Every new customer who signs up for Dauntless’s newsletter receives 10% off their first order. During the launch of the company’s new website in mid-August, all customers will get 15% off their first orders.

How Klarna’s SBI initiative is helping:

“Having the support of Klarna, being a big player in payment gateways, that has the trust of millions of customers, has a huge impact on our growth and customer trust at Dauntless,” said Maldonado. “With Klarna, we are able to give our customers the opportunity to buy sustainable products with payment plans. This helps our conversion rates as well as customer retention, referral and satisfaction. Thanks to the Small Business Impact Initiative, it has given Dauntless the opportunity to have more visibility as a brand and support as a valued brand in the fashion industry.”

Beauty inside and out.

Kim Roxie, founder and CEO of LAMIK Beauty is on a mission “to give women of color access to safe, natural beauty products that fit their skin tone.”

What’s LAMIK’s signature item? The Revelation Brow Duo, former Celebrity Brow Kit. “This product has evolved with the input from our beloved customers and every team member,” said Roxie. “It contains a combination of brow powder and concealer, to define and perfect your brows; our 15 duos were crafted to fit the hair and skin color of every woman.”

Looking ahead, Roxie is preparing specials for the holidays that will come inside a  seasonal multi-use bag and will contain some best-sellers as a bundle.

lamik

How Klarna’s SBI initiative is helping:

“While we are still recovering from those lost sales, receiving this grant from Klarna gives us, and the customer, a break,” said Roxie. “The buy-now-pay-later feature allows us the flexibility to stay competitive in our customers’ eyes, leveling up our business. At the same time, we will be able to see that boost in the conversion rate and average order value, helping our business grow. We are very grateful for this initiative and more than excited about what this will bring!”

Create a sustainable wardrobe.

Erin Houston, co-founder and CEO,  and Emily Kenney, co-founder and COO, of Wearwell started their sustainable clothing company because they saw an opportunity to make it easier for consumers to shop in ways that are aligned with their values and create a platform that is supportive to the growth of brands that walk the talk.

Wearwell membership is the brand’s signature product. “Membership is an experience that makes it effortless to discover sustainable clothing and accessories from the most ethical brands, curated just for you each month by a personal stylist,” said Houston. “As one member told us, it will ‘transform your approach to shopping.'”

New members can get their first two months of wearwell membership free with the promo code KLARNA.

Wearwell

How Klarna’s SBI initiative helps:

“Klarna’s Small Business Impact Initiative addresses two critical facets of our growth: more visibility for wearwell through partnering with an ecommerce leader like Klarna and more flexibility for our customers to be able to invest in sustainably made clothing for their wardrobe,” said Houston.

Slow fashion for every body.

Committed to sustainably made fashion for every body, identical twins Maya and Mica Caine, co-founders, Mive created a hyper-personalized online shopping experience to affirm all bodies and identities.

“We are a marketplace of novel and original pieces,” Caine noted. “We are very excited for our the new collections dropping  throughout the month of September, and our made-to-measure outwear collections dropping later in the fall.”

Mive co-founders

How Klarna’s SBI initiative is helping:

“Slow fashion tends to be more expensive because the supply chain champions fair wages for garment workers and high-quality, sustainable materials. Klarna helps us provide the payment solution that works for all types of customers,” said Caine.