Abercrombie & Fitch Co. (ANF) is really doubling down on this millennial trend.
The teen apparel retailer announced it has integrated with PayPal Holdings Inc.'s (PYPL) Venmo and starting Tuesday, Aug. 7, customers will be able to use the online payment system as a payment option on both the Abercrombie & Fitch and Hollister iOS and Android apps.
Abercrombie said it's the first specialty retailer to offer customers the option to purchase products directly through their Venmo accounts.
"We are excited about our Venmo integration, as we know Venmo is an increasingly popular payment option among our millennial and Gen Z customer bases. As a company, we aim to provide engaging, seamless brand experiences, from product discovery through to checkout and fulfillment; adding Venmo as a payment option supports that goal, and is a powerful addition to our popular, highly-rated apps," said Joanne Crevoiserat, chief operating officer of Abercrombie & Fitch.
Abercrombie shares were rising 0.7% on Tuesday.