Buy now, pay later (BNPL) company Afterpay will serve as the presenting sponsor of New York Fashion Week (NYFW): The Shows, starting September 2021, according to an announcement emailed to PYMNTS.
The multi-year arrangement with the owner and producer of New York Fashion Week: The Shows, IMG, will promote U.S. designers, help the American retail sector and provide shoppers with greater access to the fashion labels they enjoy, according to the announcement.
“Through our work with IMG, we are proud to be an integral part in creating a new future for the fashion industry, one that offers accessibility, inclusion and sustainability to retailers and consumers,” Afterpay Co-Founder and Co-CEO Nick Molnar said in the announcement.
Afterpay has teamed with LaQuan Smith, a New York-based designer, to roll out a “see now, buy now” show during NYFW. U.S. consumers will be able to purchase merchandise directly from the runway and “pay for them over time using their own money.” The LaQuan Smith “see now, buy now” show is the first of a number of consumer-facing initiatives that Afterpay and IMG will reveal before Fashion Week and throughout the year, according to the announcement.
“With our new partners at Afterpay, we are proudly committing to not only reignite the commerce and creativity showcased at America’s most critical fashion industry event, but revitalize New York’s fashion and retail sectors at large,” Leslie Russo, president of IMG’s Fashion Events and Properties, said in the announcement.
Beyond New York Fashion Week: The Shows, Afterpay said in the announcement that it is “the title sponsor of Australian Fashion Week with IMG and London Fashion Week, in partnership with the British Fashion Council.”
As previously reported, Afterpay Limited saw record sales for the quarter concluding March 30 (Q3 FY21), and the BNPL company is now considering a public listing in the United States.