Investor Relations
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The Container Store and Afterpay Partner to Deliver Flexible Payments

05/17/2021

Specialty retailer brings convenient budgeting tool to customers online and in-store

SAN FRANCISCO & COPPELL, Texas--(BUSINESS WIRE)-- The Container Store, leading specialty retailer of storage and organization solutions, and custom closets, and Afterpay, the leader of “Buy Now, Pay Later” payments, announced today that they will be bringing flexible spending to customers in-stores and online starting next month.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210517005279/en/

Exceptional customer service has always been a key priority for The Container Store, and Afterpay’s customer centric product is a simple solution for budget-conscious shoppers. Starting in mid-June, customers will have the option to make smart purchases for their homes with Afterpay - allowing them to bring home their items immediately and pay with four interest-free payments, using their own money over time.

“Retailers that offer customers flexible spending options see increased conversion, basket size and customer satisfaction,” said Satish Malhotra, CEO of The Container Store. “We cannot wait to offer this additional payment option to our customers, both online and in-store, and introduce our organization solutions to Afterpay shoppers, so they can reap the benefits of living a more organized and stress-free life now.”

Consumers are showing that they want to shop with Afterpay beyond Fashion and Beauty, with Home being at the top of their lists. In a recent survey of Afterpay customers, “Home & Decor” was a top requested category that shoppers said they’d like to see in stores.[1]

"We know that consumers are using Afterpay for everything they want and need in their daily lives, and The Container Store is the perfect addition to our family of merchants," said Melissa Davis, Head of North America at Afterpay. "This partnership will connect young, engaged shoppers who want to create beautiful, organized homes while spending responsibly, and avoiding extended debt, interest and hidden fees."

The partnership is part of The Container Store’s efforts to offer flexible financing options to its customers. Whether they're shopping in-store or online, The Container Store customers can now use Afterpay to receive products immediately while paying over time, interest-free.

About The Container Store

The Container Store Group, Inc. (NYSE:TCS) is the nation’s leading specialty retailer of storage and organization products and solutions, and custom closets – a concept they originated in 1978. Today, with locations nationwide, the retailer offers more than 11,000 products designed to help customers accomplish projects, maximize their space and make the most of their home. The Container Store also offers a full suite of custom closets designed to accommodate all sizes, styles and budgets.

Visit www.containerstore.com for more information about store locations, the product collection and services offered.

Visit www.containerstore.com/blog for inspiration, tips and real solutions to everyday organization challenges.

Follow The Container Store on Facebook, Twitter, Instagram, TikTok, YouTube, Pinterest and LinkedIn.

About Afterpay Limited

Afterpay Limited (ASX: APT) is transforming the way we pay by allowing customers to receive products immediately and pay for their purchases over four installments, always interest-free. The service is completely free for customers who pay on time[2] - helping people spend responsibly without incurring interest, fees or extended debt. As of March 2021, Afterpay is offered by nearly 86,000 of the world's favourite retailers, and is used by nearly 15 million active customers globally.[3]

Afterpay is currently available in Australia, Canada, New Zealand, the United States and the United Kingdom, France, Italy and Spain, where it is known as Clearpay. Afterpay is on a mission to power an economy in which everyone wins.

[1] Source: Afterpay data, 2020

[2] Late fees may apply. Eligibility criteria apply. See afterpay.com for full terms.

[3] Source: Afterpay data, March 2021

Katelyn Clinton, The Container Store
ksclinton@containerstore.com
972-538-6000

Samantha Bonizzi, Afterpay
samantha.bonizzi@afterpay.com

Source: The Container Store and Afterpay