GE Money and Ethan Allen Interiors, Inc. announced a multi-year renewal of its consumer financing agreement, originally formed in 1993.
The Ethan Allen Finance Plus Card, issued by GE Money’s Sales Finance unit, enables consumers to choose from a menu of financing options that best fit their monthly budget and purchasing needs. Financing solutions include Term Choice, which offers repayment time frames of 12 to 60 months; No Payment/Deferred Interest allows consumers to pay for their purchase in full within three to six months; and Ethan Allen Prime, which offers a three-month, no-payment period and a variable Interest Rate which is the current Prime Rate.
“The renewal of this relationship is a testament to the effectiveness of this finance program for Ethan Allen,” said Greg Pittman, vice president and general manager of Home Furnishings for GE Money – Sales Finance. “Offering flexible payment options is a key component in Ethan Allen’s client-focused business. We’re proud to continue to be a part of Ethan Allen’s growth.”
Research shows that the average sale using a private label credit program is significantly higher than with other payment types.
“The Ethan Allen Custom Finance program offers our clients payment options that are convenient, flexible, and consistent with the excellent service, quality, and value that are hallmarks of our brand,” said Farooq Kathwari, Chairman and CEO of Ethan Allen Interiors. “We pride ourselves on making it easy for people to create beautiful and comfortable homes that let their individual style shine through.”
About Ethan Allen: Ethan Allen Interiors Inc. (NYSE:ETH) is an interior design company that provides its clients with one-stop shopping convenience and complimentary design expertise. Ethan Allen sells a full range of classic and fashion-forward furniture and accessories through a dedicated international network of more than 300 Ethan Allen design centers. Ethan Allen has nine manufacturing plants in the United States. For more information, visit www.ethanallen.com.
About GE Money: With more than $190 billion in assets, GE Money, a unit of General Electric Company (NYSE:GE), is a leading provider of credit services to consumers, retailers and auto dealers in more than 55 countries around the world. GE Money, based in Stamford, Conn., offers a range of financial products, including private label credit cards, personal loans, bank cards, auto loans and leases, mortgages, corporate travel and purchasing cards, debt consolidation and home equity loans, and credit insurance. More information can be found at www.gemoney.com. GE Money’s Sales Finance unit, based in Kettering, Ohio, provides private label credit card programs, marketing, installment lending and financial services for national and regional retailers, dealers, manufacturers and service providers in more than 20 industries including: outdoor power equipment, home improvement, sporting goods, powersports, automotive, recreational vehicles, consumer electronics and appliances, furniture, floor covering, marine, music, jewelry, and health care.
GE is Imagination at Work -- a diversified technology, media and financial services company focused on solving some of the world’s toughest problems. With products and services ranging from aircraft engines, power generation, water processing and security technology to medical imaging, business and consumer financing, media content and advanced materials, GE serves customers in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit www.ge.com.
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