Klarna, goal Italia

Fashion is the most relevant segment for Klarna's global business. And Italy, which today counts a pool of 1,500 brand clients, more than half belonging to the fashion sector, represents a territory in continuous development for the Swedish fintech of buy now pay later, valued at 45.6 billion dollars (about 40.4 billion euros). Founded in 2005 and active with a network of 250 thousand partner companies, the company is studying new deals (among the most recent is the one with Benetton) with a focus on SMEs and the retail channel, especially after the rush to digitalization during the health emergency. The projects have been explained to MFF by Francesco Passone, country manager Italy of Klarna.

If you had to draw an account of 2021, what would it be?
It has been a fantastic year even though we had to manage a delicate context. Our 250,000 partner companies have led us to reach an important goal: to create a network of 100 million consumers worldwide, with a consumer base that is increasing by 30% every year. We've scored market launches, including France, Ireland, Poland, Portugal and New Zealand.

What is Klarna's strength?
Modernizing and digitizing the historical consumer experience in Northern Europe, with a concept of paying after receiving items, which fits perfectly with the fashion world. Partner brands have access to Klarna's consumer base, while the consumer can take advantage of flexible online, installment and interest-free payment models.

How do you move within the fashion space?
We've moved from fast fashion companies like H&M and Zara, to the premium world to the luxury world with Bulgari, Moncler, Dolce&Gabbana and many others. The effects have obviously been different; for fashion we have had an increase in the average shopping cart, the more we move towards the universe of luxury the closer we get to the younger generations, from Millennials to GenZ, who today have come to represent a slice of 60-70% of our consumers globally.

What are your goals for Italy?
Today we have 1500 merchants, more than half belonging to the fashion industry. There are many other deals in the pipeline. We have different development strategies: there are the big international companies like Hugo Boss or H&M that enter the country with Klarna because they already work with us abroad; or big Italian companies that start with us and then grow outside, like Benetton, Furla, Guess, Moncler; and then there are the small and medium companies, from multibrand to small brand. My ambition is to help especially SMEs in the digitalization process.

Do you foresee new funding rounds?
For the rate of growth we are having, this can happen. (all rights reserved)