Rent-A-Center, a Plano-based company that operates over 2,400 Rent-A-Center retail units across the U.S., Mexico, and Puerto Rico, as well as Acima’s third-party, virtual lease-to-own solutions and RAC’s Acceptance Now flexible leasing unit, has undergone a significant rebranding effort. The company, which nearly doubled the size of its business with the acquisition of Acima Holdings two years ago, has adopted a new parent entity name, Upbound Group, Inc., and is changing its stock ticker to NASDAQ: UPBD.
The new name and ticker symbol, which took effect on February 27, reflect the company’s commitment to enabling more consumers to access flexible financial solutions and its dedication to innovation and technology-driven solutions. Rent-A-Center and Acima will continue to operate under their existing names, while Upbound Group, Inc. will provide strategic planning and shared services to all of its businesses.
The corporate name change is motivated by the company’s growth beyond its roots and into a unified, multi-brand platform company. As Upbound, the company aims to provide strategic planning and shared services for all of its businesses, enabling a broader range of consumers to access flexible financial solutions. Upbound’s CFO, Fahmi Karam, says that the company’s philosophy is “moving customers up the credit chain, if you will, giving them more financing solutions, more alternatives, and giving them a little bit more financial confidence.”
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.
Mitch Fadel, CEO at Upbound Group
The rebranding of Rent-A-Center to Upbound Group is a common occurrence when businesses grow beyond their original roots. As a multi-brand platform company, Upbound aims to offer customers a broader set of financial solutions to help them move up the credit chain. The company will operate on an exact brand match domain name, Upbound.com, which is the same approach used by most of its sub-brands like Rent-A-Center and Acima. By having consistent online branding across its sub-brands, Upbound Group, Inc. can establish itself as a leading provider of financial solutions and services. This strategy enables customers to easily identify and remember the brand, resulting in a seamless customer experience.
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