GE Money and Lane® Home Furnishings announced a multi-year renewal of its consumer financing agreement, originally formed in 2003. The Lane credit card program, issued through GE Money’s Sales Finance unit, is available at Lane Home Furnishing stores and Lane Gallery Dealers nationwide.
“GE has the most attractive plan in the marketplace,” said David Coke, vice president of business development for Lane Home Furnishings. “We appreciate their willingness to work with us to develop the best corporate retail plan and build the relationship that had continued to grow over the past five years. The GE Money team has done an outstanding job giving us exactly what we need. The people at GE are just good to work with in every respect.”
During the relationship, GE Money and Lane have introduced finance options to meet the preferences of a range of Lane customers, including the company’s largest base of cardholders – identified as age 35 to 55, often with school-aged children at home. In addition to providing a choice of payment options, the teams have focused on offering discount and loyalty programs, since research shows that over half of customers use the Lane credit program for repeat purchases. Patented kiosk technology from Versatile has also been introduced in a number of Lane stores to enhance the speed, security and simplicity of the application process.
“Consumers look for ways to get the most for their money, and the Lane credit program lets them do that effectively through tailored promotions and extended terms,” said Jim Seger, vice president, Home Furnishings, GE Money – Sales Finance.
About Lane Home Furnishings
The Lane name is highly recognized and is synonymous with quality home furnishings. For nearly a century, millions of consumers have been coming home to quality home furnishings manufactured in Lane’s state-of-the-art factories. For more information, visit www.lanefurniture.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: home furnishings, consumer electronics and appliances, floor covering outdoor power equipment, home improvement, sporting goods, powersports, automotive, recreational vehicles, marine, music, jewelry and luxury goods, 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.
Furniture World Magazine-Business solutions for furniture retailers