Synchrony and Jewelers Mutual® Collaborate on Innovative New Sponsorship Agreement, Combining Finance and Insurance Marketing Efforts

Rhea-AI Summary

Synchrony (NYSE: SYF) and Jewelers Mutual have announced a strategic sponsorship agreement to co-market financing and insurance services to jewelry merchants. Through this collaboration, Synchrony's financing solutions will be featured in Jewelers Mutual's marketing materials and Zing Marketplace, while Jewelers Mutual's insurance offerings will be showcased on Synchrony Marketplace. The partnership aims to provide jewelry retailers with integrated solutions for customer financing and jewelry protection. Synchrony currently serves over 4,000 jewelry retailers nationwide, while Jewelers Mutual's insurance services are utilized by more than one million customers across the US and Canada. This integration will enable jewelry merchants to offer customers both financing options for affordability and insurance coverage for protecting their valuable purchases.

Positive

• Partnership expands Synchrony's market reach through Jewelers Mutual's Zing Marketplace platform
• Access to Jewelers Mutual's 1+ million customer base across US and Canada
• Enhanced value proposition for Synchrony's existing 4,000+ jewelry retail partners
• Cross-marketing opportunities through both companies' platforms

Negative

• None.

Insights

Strategic Partnerships Analyst

Synchrony's partnership with Jewelers Mutual creates cross-selling opportunities but likely has minimal immediate financial impact.

This partnership between Synchrony and Jewelers Mutual represents a strategic cross-marketing initiative rather than a financial transaction with immediate revenue implications. The agreement essentially creates a reciprocal marketing arrangement where each company promotes the other's services through their respective channels.

The value for Synchrony comes from enhanced visibility to Jewelers Mutual's network of jewelry merchants through their marketing materials and Zing Marketplace platform. This gives Synchrony potential access to new jewelry retailers beyond their current 4,000 jewelry retail partners. Similarly, Jewelers Mutual gains exposure to Synchrony's merchant and consumer base through Synchrony's marketing materials and Synchrony Marketplace.

This type of partnership follows a classic co-marketing playbook in the retail financing sector, creating a complementary service bundle without requiring significant capital investment. For jewelry retailers, this creates a one-stop solution where they can offer customers both financing (increasing average transaction value) and insurance (providing post-purchase peace of mind).

While the arrangement may incrementally expand Synchrony's jewelry retail footprint, the impact is likely to be modest in the context of Synchrony's overall business. Without exclusivity clauses or financial commitments mentioned, this appears to be a low-risk partnership that primarily enhances customer acquisition channels rather than fundamentally altering Synchrony's business model or near-term earnings potential.

Synchrony Financing Solutions Will Be Offered in Jewelers Mutual Marketing Materials and in Zing Marketplace

STAMFORD, Conn., May 28, 2025 /PRNewswire/ -- Synchrony (NYSE: SYF), a premier consumer financial services company, and Jewelers Mutual^®, an insurer dedicated to protecting jewelry and jewelry businesses for over a century, today announced a new sponsorship agreement to co-market both services to jewelry merchants looking to make customers aware of both financing and insurance coverage options.

"Through this new sponsorship agreement with Jewelers Mutual, we are extending the value Synchrony brings to retailers around the country," said Darrell Owens, CEO, Lifestyle, Synchrony. "Jewelry merchants can now present their customers with financing options that make purchases more affordable, while making their customers aware of the option to protect their jewelry, which is often among a customer's most cherished possessions."

As part of the agreement, Jewelers Mutual will showcase Synchrony financing solutions in its marketing materials as well as Zing^® Marketplace, a comprehensive online platform created for its member retailers. Zing Marketplace features essential tools to help merchants best serve their customers, including jeweler web pages, diamond marketplace, a jewelry appraisal solution and, now, financing offerings from Synchrony.

Synchrony will also feature offers directly from Jewelers Mutual to merchants and consumers through select marketing materials as well as on Synchrony Marketplace, a shopping destination for consumers to find special offers from Synchrony partners. As a result, Synchrony will help elevate awareness of Jewelers Mutual and its insurance services, which are used by over one million customers throughout the United States and Canada.

"As a leader in consumer financing, we're excited about the added value our collaboration with Synchrony will bring to jewelers and their customers," said Mike Alexander, Chief Operating Officer, Jewelers Mutual. "Together, we are committed to supporting jewelers in delivering seamless customer experiences while helping protect the pieces they will treasure for a lifetime."

Synchrony financing is currently used by more than 4,000 jewelry retailers nationwide. Synchrony is committed to offering financing options for small and medium-sized businesses across the country to help them grow their business and offer customers greater purchasing power to meet their needs.

About Jewelers Mutual Group
Jewelers Mutual® was founded in 1913 by a group of Wisconsin jewelers to meet their unique insurance needs. Later, consumers began putting their trust in Jewelers Mutual to protect their jewelry and the special memories each piece holds. Today, Jewelers Mutual continues to support and move the industry forward by listening to jewelers and consumers and offering products and services to meet their evolving needs. Beyond insurance, Jewelers Mutual's powerful suite of innovative solutions and digital technology offerings help jewelers strengthen and grow their businesses, mitigate risk, and bring them closer to their customers. The Group insurers' strong financial position is reflected in their 38 consecutive "A+ Superior" ratings from AM Best Company, as of November 2024. Policyholders of the Group insurers are members of Jewelers Mutual Holding Company. Jewelers Mutual is headquartered in Neenah, Wisconsin, with other Group offices in Dallas, Texas, Miami, Florida and Raleigh, North Carolina. To learn more, visit JewelersMutual.com.

About Synchrony
Synchrony (NYSE: SYF) is a leading consumer financing company at the heart of American commerce and opportunity. From health to home, auto to retail, our Synchrony products have been serving the needs of people and businesses for nearly 100 years. We provide responsible access to credit and banking products to support healthier financial lives for tens of millions of people, enabling them to access the things that matter to them. Additionally, through our innovative products and experiences, we support the growth and operations of some of the country's most respected brands, as well as more than 400,000 small and midsize businesses and health and wellness providers that Americans rely on. Synchrony is proud to be ranked as the country's #2 Best Company to Work For® by Fortune magazine and Great Place to Work®.  For more information, visit www.synchrony.com.

Contact:

Lauren Devilbiss
Synchrony
lauren.devilbiss@syf.com
240-814-5825

View original content to download multimedia:https://www.prnewswire.com/news-releases/synchrony-and-jewelers-mutual-collaborate-on-innovative-new-sponsorship-agreement-combining-finance-and-insurance-marketing-efforts-302466317.html

SOURCE Synchrony

FAQ

What is the new partnership between Synchrony (SYF) and Jewelers Mutual?

Synchrony and Jewelers Mutual have formed a sponsorship agreement to co-market financing and insurance services to jewelry merchants, integrating Synchrony's financing solutions into Jewelers Mutual's marketing materials and Zing Marketplace.

How many jewelry retailers currently use Synchrony (SYF) financing?

Synchrony financing is currently used by more than 4,000 jewelry retailers nationwide.

What benefits does the Synchrony-Jewelers Mutual partnership offer to jewelry retailers?

The partnership allows jewelry retailers to offer customers both financing options for affordability and insurance coverage for protecting their purchases, while accessing both services through integrated platforms.

How many customers does Jewelers Mutual serve in their partnership with Synchrony (SYF)?

Jewelers Mutual serves over one million customers throughout the United States and Canada.