The Hut Group (THG) has announced a partnership with ‘buy now, pay later’ from Zip offering its customers the opportunity to pay in interest-free instalments.
THG, best known for its brands Myprotein, Lookfantastic and Zavvi, will now allow customers the option to pay for their items in four instalments, coined ‘pay in four’.
“We’re growing rapidly in the UK and our partnership with THG only confirms our intention,” Zip managing director Anthony Drury said.
“There is an increasing appetite among retailers to embed buy now, pay later payment domestically and internationally.
“Our flexible products are accessible across many retail sectors from fashion, health & beauty and groceries to homeware, entertainment, sport and travel.”
Zip is also offering the pay in four service to its THG Ingenuity platform, allowing a large number of brands to enable instalment plans for their own direct-to-consumer sales.
The payment provider currently servers over 6.4 million customers worldwide and its announcement today will make it set to become the UK’s first flexible payment method both online and in-store.
THG Ingenuity chief executive John Gallemore added: “Our collaboration with Zip allows us to further expand the payment options that we offer THG Ingenuity clients and THG’s own brands, ultimately giving greater choice and flexibility to consumers anywhere in the world.”
The Hut Group recently announced a 40 per cent increase in its sales after the shift to online shopping during the pandemic provided new business.
The Manchester based ecommerce brand reported a boom in its sales to £1.61 billion for the year finishing in December, seeing a rise of 10.7 million new customers.