PLANO, Texas — Rent-A-Center Inc., parent company for Rent-A-Center, Acima and other consumer brands, is now known as Upbound Group.
In a release announcing the change, Upbound Group described the rebranding as an omnichannel platform company that enables a broader range of consumers to access flexible financial solutions. The company will begin to trade under the ticker NASDAQ: UPBD starting Feb. 27.
The company will continue to go to market under its well-established operating brands including Rent-A-Center, its 50-year-old lease-to-own retail channel with more than 2,400 stores, and Acima, its third-party, virtual lease-to-own industry.
“Two years ago, Rent-A-Center Inc. closed on its acquisition of Acima Holdings, almost doubling the size of the company and dramatically changing both organizations. We are now a unified, multi-brand platform company that includes more than just the Rent-A-Center business,” said Mitch Fadel, CEO of Upbound.
“We are thrilled to launch Upbound, a new enterprise brand and operating structure that will better serve our business and mission,” he continued. “This announcement is a significant milestone in our evolution and strategic plan, as we strive to offer more inclusive financial solutions that address the changing and growing needs of consumers.”
As the corporate enterprise brand for all of the company’s businesses, Upbound will provide strategic planning and shared services that will be leveraged across the organization to support and lead the development of innovative, inclusive and technology-driven solutions that address the needs and aspirations of consumers.
“Upbound is more than a brand. It represents a new enterprise operating model to better capitalize on existing synergies and resources, execute commercial operations and cross-brand strategies, and innovate with existing and new products,” Fadel said. “Based on our experience and relationships with millions of our own customers, we have the data and analytics capabilities to offer them a broader set of financial solutions, including targeted credit and point-of-sale loan products.”
See also:
- Rent-A-Center adjusts Q3, FY guidance for economic headwinds
- Acima launches digital ecosystem to lease retail products
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