In a new move to support jewelry retailers, Synchrony and Jewelers Mutual® have announced a sponsorship agreement that merges their marketing efforts for financing and insurance. The partnership aims to help merchants offer both services to customers in a streamlined way.
Synchrony (NYSE: SYF), a leading consumer financial services company, and Jewelers Mutual, a long-standing insurer for jewelry and jewelry businesses, will now co-market their services. This initiative allows retailers to present customers with flexible payment options and jewelry insurance protection at the same time.
“Through this new sponsorship agreement with Jewelers Mutual, we are extending the value Synchrony brings to retailers across the country,” said Darrell Owens, CEO of Lifestyle at Synchrony. “Jewelry merchants can now offer financing to make purchases more affordable, while also informing customers about how they can protect their jewelry—often one of their most meaningful assets.”
As part of the partnership, Jewelers Mutual will promote Synchrony’s financing solutions across its marketing platforms. This includes the Zing® Marketplace, an online portal built for member retailers. Zing Marketplace offers various tools to help jewelers serve their customers better. These include retailer websites, access to a diamond marketplace, jewelry appraisal tools, and now, Synchrony’s financing options.
In return, Synchrony will highlight Jewelers Mutual’s insurance services through its own marketing efforts. These promotions will appear in select merchant communications and on the Synchrony Marketplace—a platform where consumers can discover offers from Synchrony’s partners.
With this collaboration, Synchrony aims to raise awareness of Jewelers Mutual’s insurance coverage. Jewelers Mutual currently protects more than one million customers across the U.S. and Canada.
“As a leader in consumer financing, we’re excited about the added value our collaboration with Synchrony brings to jewelers and their customers,” said Mike Alexander, Chief Operating Officer at Jewelers Mutual. “Together, we’re helping retailers offer a seamless customer experience. We’re also supporting them in protecting the meaningful items their customers cherish for life.”
Synchrony’s financing programs are already in use by over 4,000 jewelry retailers across the United States. The company continues to focus on offering credit solutions to small and medium-sized businesses. These programs help retailers grow while giving customers more buying power.
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