Firmness mattresses marketer Select Comfort Corporation announced a five-year agreement to extend its consumer financing arrangement with GE Consumer Finance, Retail Sales Finance, a consumer-lending unit of the General Electric Company.
The agreement extends an existing agreement that dates back to 1999. Under terms of the agreement, GE will manage the risk management, collections and payment processing functions for qualified buyers of the company's Sleep Number bed and accessories that elect to finance their purchases.
"Select Comfort has been a valuable business partner and we're delighted to continue this relationship as they continue to grow their business," said Glenn Marino, President and Chief Executive Officer of GE Consumer Finance's Retail Sales Finance unit.
"They look forward to serving their customers with a convenient credit program that will help Select Comfort enhance customer loyalty."
"GE is a proven leader in the consumer financing industry," said James C. Raabe, Select Comfort's chief financial officer. "Extending our relationship will enable us to expand the promotional financing opportunity for our customers, and allow us to leverage the scale provided by our growth and improve operating margins."
Retail Sales Finance, based in Kettering, Ohio, is part of GE Consumer Finance and provides private label credit card programs, marketing, installment lending and financial services for national and regional retailers in key industries: jewelry, home improvement, powersports, outdoor equipment, automotive/recreational vehicles;
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