Mercury Ring Partners with Synchrony to Offer Customers New Retailer Financing Options
Exclusive Partnership Gives Retailers the Ability to Enhance Their Lab-Grown Sales
STAMFORD, CONN. & SECAUCUS, N.J. – Mercury Ring, a leading supplier of lab-
grown diamonds and jewelry across North America, has entered into an exclusive
partnership with Synchrony (NYSE: SYF) a premier consumer financial services
company, as its strategic provider of consumer financing, the two companies
announced. The partnership provides financing from Synchrony that will help drive
repeat purchases, higher ticket sales and strong customer loyalty for the network of Mercury Ring authorized retailers.
Mercury Ring may cover up to 100% of its authorized retailer’s cost of retail financing when its authorized retail partners sell its products to a consumer using Synchrony’s financing options. This will give consumers more flexibility in buying into the lab-grown diamond category or expanding their existing lab-grown jewelry collections.
“In making our selection, we were seeking a trusted partner that could provide both expertise in consumer financing as well as industry insight to help us continuously enhance the customer experience,” said Ateet Shah, President of Mercury Ring. “We are passionate about helping customers find the jewel of their dreams that create unique memories – and Synchrony’s offerings will make it easier for them to achieve those moments”.
“Synchrony is delighted to partner with an innovative industry leader in Mercury Ring, as it strives to provide its authorized retailers and consumers with the best products and services within the lab-grown diamond segment of the jewelry market,” said Maggie Kassebaum, senior vice president and general manager, Luxury Markets at Synchrony.
“This collaboration will enable jewelry retailers to deliver an enhanced value proposition to consumers with high-quality products, accompanied by an easy, attractive path for consumers to pay over time.”
About Mercury Ring
Founded by the Bergman family in 1944, Mercury Ring started out as a predominantly bridal house. In 2016, the family sold the company to Unique Designs, Inc., making Mercury Ring a proud part of the largest jewelry wholesale company in the US. Today, Mercury Ring is the leading loose and finished jewelry supplier to the finest independents across North America. It is a member of the Plumb Club, IJO, RJO, Centurion, Leading Jewelers and CBG, winning numerous awards for its impeccable service and explosive growth.
Synchrony (NYSE: SYF) is a premier consumer financial services company delivering one of the industry’s most complete digitally-enabled product suites. Our experience, expertise and scale encompass a broad spectrum of industries including digital, health and wellness, retail, telecommunications, home, auto, outdoor, pet and more. We have an established and diverse group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations and healthcare service providers, which we refer to as our “partners.” We connect our partners and consumers through our dynamic financial ecosystem and provide them with a diverse set of financing solutions and innovative digital capabilities to address their specific needs and deliver seamless, omnichannel experiences. We offer the right financing products to the right customers in their channel of choice.
For more information, visit www.synchrony.com and Twitter: @Synchrony.
1. Ateet Shah, President, 212-575-7701, x2407
2. Filiz Oran, Customer Service Manager, 212-575-7701, x3295
1. Lauren Devilbiss