New Fred Meyer Jewelers Partnership with Synchrony to Deliver Customers Savings, Special Offers Through Financing Program

Tuesday, September 11, 2018 8:45 am EDT

Dateline:

PORTLAND, Ore. & STAMFORD, Conn.

Public Company Information:

NYSE:
SYF

PORTLAND, Ore. & STAMFORD, Conn.--(BUSINESS WIRE)--As part of its long-term growth strategy, Fred Meyer Jewelers, today announced a partnership with Synchrony (NYSE:SYF), a premier consumer financial services company, to provide financial services programs for jewelry purchases.

The agreement builds upon Fred Meyer Jewelers leading commitment to provide superior service for all of its jewelry purchases in more than 260 stores in the US and online. As part of the program, cardholders will be eligible for special discounts and promotional offers when they use their Fred Meyer Jewelers branded card in November and December. Other special offers will be available throughout the term of the agreement.

“This partnership with Synchrony puts Fred Meyer Jewelers in a stronger position -- generating continued ways to drive our growth with unique financing programs,” said W. Jon Cook, vice president operations for Fred Meyer Jewelers. “Combining the expertise of both companies will provide an easy to use experience for our customers – whether they are shopping in-store or online.”

“When it comes to helping our partners, we realize that being able to offer flexible financing is critical,” said Neeraj Mehta, CEO, Payment Solutions at Synchrony. “In the jewelry sector especially, our research shows that consumers value financial choices and special offers. With an engaged partner like Fred Meyer Jewelers, customers stand to win.”

The partnership comes at a time when financing has been shown to play a pivotal role in consumer purchasing decisions. Synchrony’s Fine Jewelry Study revealed that 42 percent of Synchrony cardholders would have either not made the purchase they were considering, or done it at another retailer, if financing wasn’t available at the time of purchase.

The study also found flexibility and security to be perceived benefits of Synchrony store cards:

  • 53% of jewelry shoppers said they liked being able to defer payment by using a credit card
  • 69% of jewelry shoppers said they use credit cards because they know their purchase is protected

The Synchrony, Fred Meyer Jewelers partnership includes the Littman Jewelers brand. Consumers can start applying for the Fred Meyer Platinum Preferred Card on October 22nd.

About Fred Meyer Jewelers
Founded in 1973, Fred Meyer Jewelers is the one of the nation’s largest fine jewelry retailers operating approximately 260 jewelry stores under the Fred Meyer Jewelers and Littman Jewelers brand names. The stores carry a broad assortment of engagement and wedding rings, fine jewelry for women and men, and brand-name watches. Fred Meyer Jewelers, Inc. is a wholly owned subsidiary of The Kroger Co. (NYSE:KR), one of the nation's largest grocery retailers. For more information on Fred Meyer Jewelers, visit FredMeyerJewelers.com, Facebook.com/fredmeyerjeweler or follow them at Twitter.com/fmjeweler.

About Synchrony
Synchrony (NYSE:SYF), is a premier consumer financial services company delivering customized financing programs across key industries including retail, health, auto, travel and home, along with award-winning consumer banking products. With more than $130 billion in sales financed and 74.5 million active accounts, Synchrony brings deep industry expertise, actionable data insights, innovative solutions and differentiated digital experiences to improve the success of every business we serve and the quality of each life we touch. More information can be found at www.synchrony.com and through Twitter: @Synchrony.

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Contact:

Media
Fred Meyer Jewelers:
Kirsten Darrow, 503-797-7613
or
Synchrony:
Nicole Ward, 203-585-2933
Nicole.ward@SYF.com
@NWardsays

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