Boohoo goes international with Laybuy payments partnership
Online fashion retailer Boohoo has announced a buy now, pay later partnership with Laybuy across New Zealand, Australia and the UK.
“Customers in all supported countries will be able to enjoy their purchase now and spread the cost over six weekly, interest-free payments,” Laybuy said in a LinkedIn post.
Last year, Laybuy launched in the UK in a partnership with Footasylum. The company started life in New Zealand and its ownership is split equally between the Rohloff family and investment firm Pioneer Capital.
Earlier this year, it closed its pre-IPO fundraising round, pulling in $15 million of fresh equity.
According to a report by Financial Review: “Laybuy's advisers are still working through allocations…Then it will be full steam ahead to an Australian stock exchange (ASX)-listing, which is expected to see the company hit the boards with a $200 million market cap.”
Boos for Boohoo
Boohoo was criticised earlier this week for selling fashion face masks during the coronavirus pandemic.
Costing £5, these came with messages such as "Eat, sleep, isolate, repeat" or "If you can read this, you are too close".
The Union of Shop, Distributive and Allied Workers (Usdaw) said they were "scandalous”. Boohoo apologised and removed the masks from sale. It insisted they were not designed for "protection".
