Shoppers can now opt-in to Croissant Guaranteed Buybacks™ on leading sites, including Neiman Marcus, Reformation, Nike, and Lululemon
Croissant, a fintech platform with a mission to empower intentional commerce, launched its Google Chrome extension today, allowing customers to see and lock in Guaranteed Buybacks™ for their applicable apparel and accessories purchases on most major brand and retailer sites, including Neiman Marcus, Reformation, Nike, and Lululemon - with more to come.
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Croissant launches Google Chrome extension, now providing shoppers with Guaranteed Buybacks™ on leading fashion sites. (Graphic: Croissant)
An industry first, Croissant’s offering allows customers to know the future resale value of items during the initial shopping journey. Croissant’s data shows that when customers consider purchases with Guaranteed Buybacks™ in mind, they are empowered to spend more on the higher quality items they actually want, rather than opting for lower quality or disposable goods. As a result, Croissant is transforming the shopping mindset from one of credit-fueled mass consumption to one of premium asset ownership, allowing customers to prioritize the quality and longevity of purchases while fueling conscious consumerism.
“Croissant is enabling a behavior that is already implicitly practiced by savvy shoppers,” said co-founder and CEO John Howard. “Research shows that over 80% of younger shoppers consider the resale value of a good before making a purchase. This is a trend we should celebrate, because when we consider the ongoing ‘asset value’ of a given purchase (and not just the headline price), we are able to buy smarter and better - in every sense of the term.”
With the increased interest in evaluating resellability as a purchasing criterion, there is a growing need for customers to understand precise future resale values at the point of sale. Croissant seamlessly resolves this pain point through its AI tooling and data science, which enable the company to display real-time buyback values that are so accurate, Croissant is willing to guarantee them to the customer. Using Croissant’s Google Chrome extension, shoppers can opt into these Guaranteed Buybacks™ at no cost, and with no obligation to sell items later.
“Even if you don’t plan to resell a particular item that you’re browsing, knowing a precise future resale value is arguably the most helpful datapoint you can have in your purchase decision,” said CTO John Klose. “So much is encapsulated in that single number - from quality and longevity, to long-term desirability of the brand, to the likelihood of a piece remaining on-trend - and Croissant’s accuracy empowers users to make intentional shopping choices that prioritize long-term value.”
Post-purchase, customers can access their Guaranteed Buybacks™ as a “collection” in the Croissant app, which functions much like a savings account, but for physical goods. If customers later elect to sell, they can do so in a matter of taps and ship their items to Croissant for free. Croissant pays customers out upon receipt of the items at its operations center, eliminating the need for sellers to manage resale marketplace listings or wait for items to sell.
Behind the scenes, Croissant deploys its exclusive multiple listing technology to find new buyers for the resold items within the existing secondhand ecosystem - with no involvement required from customers. Since inception, Croissant has achieved an average resale price within three pennies of the associated Guaranteed Buybacks™ paid to the customer, further establishing the company as the authority on resale pricing.
Croissant initially launched with a handful of online retailers in late July 2023, when it also announced $24 million in seed funding from a suite of top investors, including Portage, Third Prime, BoxGroup, 25madison, Twelve Below, and KKR co-founders George Roberts and Henry Kravis. The new Google Chrome extension allows a wider range of customers and retailers to immediately benefit from Croissant’s unique value proposition.
About Croissant
Croissant is on a mission to empower intentional commerce by building financial technology for the circular economy. Croissant offers customers Guaranteed Buybacks™ via seamless ecommerce integrations with select partners and via a newly launched Google Chrome extension available at a broad array of leading retailers and brands. Shoppers are inspired to buy what they love today while locking in what it’ll be worth tomorrow, and retailers are afforded a boost in full-price sales though higher average order values and stronger customer loyalty. That’s purchasing power, amplified.
To learn more, visit www.croissant.com or connect with us on Instagram and LinkedIn.
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Contacts
Media
Annie Maines
Nike Communications
croissant@nikecomm.com
