Afterpay cements industry partnerships
Buy now pay later leader Afterpay has entered into a long-term partnership with Thread Together, an organisation that collects brand-new end-of-line stock from fashion brands and donates it to people in need.
The partnership is intended to help fund Thread Together’s services, which include sorting and picking and packing clothing donations and distributing them to charity partners and social service agencies.
Thread Together currently provides brand-new clothes to around 1500 people each week, and hopes to increase that number in the wake of the coronavirus pandemic, which has cost hundreds of thousands of Aussies their jobs, according to the Australian Bureau of Statistics.
The partnership also aims to help Afterpay’s fashion partners looking for a sustainable way to repurpose excess stock. The items donated to Thread Together might otherwise have ended up in landfill.
From today, Afterpay customers will be able donate $1 to Thread Together at checkout, and the payment company will make sure the organisation receives a minimum of $200,000 each year.
Anthony Eisen, Afterpay’s CEO and co-founder, said the company was thrilled to be able to help Australians impacted by COVID-19 and the recent bushfires.
“[I]t allows us to directly help Aussies who are impacted by COVID-19 and the recent bushfires who may be struggling to get the clothes they need for themselves or their families this winter,” he said in a statement.
Afterpay is also in the process of finalising a sponsorship agreement with the Australian Fashion Council. The sponsorship will offer support to Australian fashion designers and brands and strengthen some of the AFC’s programs and initiatives aimed at helping the industry recover from the recent lockdown.
“Australian fashion is in our DNA and we want to ensure we do everything possible to back our fellow Australians,” Eisen said.