19 Jun 2023 07:00
Press release
19 June 2023
Cellular Goods PLC
("Cellular Goods" or "the Company")
Payment partnership with Klarna
Cellular Goods (LSE: CBX) a UK-based skincare and wellness company providing premium consumer products formulated with lab-produced cannabinoids, is pleased to announce that it has signed an agreement with Klarna Bank AB ("Klarna"), a Swedish provider of online financial services, to bring Klarna's buy now, pay later (BNPL) services to Cellular Goods' ecommerce website.
Through the partnership consumers buying products on www.cellular-goods.com can choose to split payment across three equal instalments or can choose to defer payment for up to 30 days with zero interest and no additional fees. The new payment options will be available to all customers in the United Kingdom.
Cellular Goods believes that offering flexible purchase options will support increased sales and open the Company's products up to new audiences.
Demand for buy now, pay later payment services has surged among all age groups in the UK and is popular with shoppers across Cellular Goods' target demographics. While the age group using BNPL services most frequently is 25-34-year-olds, the fastest-growing group of BNPL users in the UK is now comprised of older and more affluent customers in the 45 and above age cohort (Source: Experian, 2023).
Darcy Taylor, chairman and interim CEO, commented: "The partnership with Klarna is an important improvement to our ecommerce offering and responds to a growing consumer trend. Providing our customers with a range of flexible payment methods enhances their shopping experience and expands our reach to new audiences."
For further information please contact:
Cellular Goods | |
Darcy Taylor Chairman and interim CEO Neil Thapar Investor Relations | via Tancredi +44 207 887 7633
+44 787 645 5323 |
First Sentinel Corporate Finance | |
Corporate Broker & Advisor Brian Stockbridge |
+44 7876 888 011 |
Novum Securities |
|
Corporate Broker Colin Rowbury Jon Belliss |
+44 207 399 9427 |
Tancredi Intelligent Communication | |
Media Relations Helen Humphrey Charlie Hobbs cellulargoods@tancredigroup.com |
+44 744 922 6720 +44 789 755 7112 |
About Cellular Goods PLC:
Cellular Goods develops and markets premium quality skincare and wellness products based on proprietary formulations incorporating biosynthetic lab-made cannabinoids. Our branded products are efficacy-led and research-backed and available online in the UK and US. The Company is incorporated in the UK and listed on the Main Market of the London Stock Exchange. For more information, visit www.cellular-goods.com.
About Klarna:
Since 2005 Klarna has been on a mission to revolutionize the retail banking industry. With over 150 million global active users and 2 million transactions per day, Klarna is meeting the changing demands of consumers by saving them time and money while helping them be informed and in control. Over 500,000 global retail partners, including H&M, Saks, Sephora, Macys, IKEA, Expedia Group, and Nike have integrated Klarna's innovative technology to deliver a seamless shopping experience online and in-store. Klarna has over 5,000 employees and is active in 45 markets. For more information, visit Klarna.com.