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Reeds adds private label program
Retail chain Reeds Jewelers now is offering its customers a private label credit card program through a multi-year agreement inked with Synchrony Financial, formerly GE Capital Retail Finance.
Stamford, Conn.--Retail chain Reeds Jewelers now is offering its customers a private label credit card program through a multi-year agreement inked with Synchrony Financial, formerly GE Capital Retail Finance.
The Reeds Jewelers card will launch March 1 and be available at 59 of the company’s stores in 13 states, as well as on Reeds.com.
It will provide a dedicated line of credit and special financing options for the purchase of diamonds, bridal jewelry, Swiss timepieces, customized family jewelry and more, Reeds said. Cardholders also will receive exclusive offers, special financing and invitations to Reeds Jewelers events.
Reeds said that financing plays an important role for jewelry shoppers, according to the third annual Major Purchase Consumer Study, commissioned by Synchrony Financial and slated for publication next week. The study found that 75 percent of fine jewelry cardholders always seek promotional financing options when making a jewelry purchase, and nearly half would choose not to buy or go elsewhere is retail financing were not available.
“Jewelry is a very memorable purchase for our customers. Reeds Jewelers is committed to providing customers with … payment options to fill their needs,” said Reeds Jewelers President and CEO Alan Zimmer. “The new Reeds Jewelers card program with Synchrony Financial gives our customers a wider range of benefits and reflects the knowledgeable service we strive for across our business.”
Reeds was founded in 1946 as a single brick-and-mortar location in Wilmington, N.C. Today, the company has locations in 18 states with a national direct mail catalog and e-commerce website, offering brands including David Yurman, Roberto Coin, Mikimoto and Pandora.
Synchrony Financial is the former GE Capital Retail Finance, which went public this summer and now is the largest provider of private label credit cards in the United States The company works with businesses including Amazon, QVC, J.C. Penney and the International Diamond Center, among others.
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