HSBC Outfits Cornerstone Brands with Credit Program

HSBC Outfits Cornerstone Brands with Credit Program

Offers Customers Shop-at-Home Convenience

28 November 2006

PROSPECT HEIGHTS, Ill.  - HSBC - North America's retail services business has signed a new agreement with Cornerstone Brands, Inc., to launch and manage a private label credit program for Cornerstone's entire family of leading retail companies for the home, leisure and casual apparel markets.

HSBC kicked off the new agreement with the launch of The Territory Ahead credit card. The Territory Ahead offers "Exceptional Clothing for Life's Adventures." Just in time for holiday shopping, customers may use the new credit card to purchase The Territory Ahead and Isabella Bird brand merchandise via catalog, Internet and at the retailer's store locations.

The new private label credit program from HSBC will give customers a convenient way to make their purchases and establish loyalty with each individual brand. For the recent launch of The Territory Ahead credit card, customers who apply for the card will receive 10% off their purchase and 5% off all future card purchases. Additional card benefits may include deferred billing, exclusive cardholder savings, and special notice of cardholder-only events.

"We look forward to working with Cornerstone and helping them grow The Territory Ahead and their other strong brands with this exciting new credit program," said Joe Hoff, CEO of Retail Services for HSBC. "By leveraging our experience in the direct-to-consumer channel, we will help drive customer loyalty by offering financing solutions that work for each individual brand and its unique customers. It's particularly great to launch this program in time for holiday shopping."

The private label credit program for Cornerstone's other brands, which include Ballard Designs, Frontgate, Garnet Hill, Improvements, Smith+Noble, and TravelSmith Outfitters, will launch over the coming months. Each brand will have its own credit card with its respective brand name.

"We are very excited about working with HSBC in providing this new credit card program to our customers," said John Schaefer, CEO of Cornerstone Brands, Inc. "The new loyalty programs and other services offered with the new credit card programs provide us with still another way to connect with our customers and enhance the buying experience."

About Cornerstone
Cornerstone Brands is a family of leading retail companies for the home, leisure and casual apparel markets. Cornerstone's lineup of direct marketing brands includes Ballard Designs, Frontgate, Garnet Hill, Improvements, Smith+Noble, The Territory Ahead and TravelSmith Outfitters.  These brands specialize in meeting the expectations of the most discriminating customer by offering unique high quality products that are readily available through in-home catalogs, easy to use Internet sites or, in some business units, retail stores. Cornerstone Brands is owned by IAC/InterActiveCorp.

About HSBC Retail Services
HSBC Retail Services is a leading issuer of private label (merchant branded) credit cards in the United States. This business provides flexible, customized credit card solutions for many of the world's premier retailers and manufacturers and has more than 60 active merchant relationships. For more information, visit www.hsbcretailservices.com.

About HSBC - North America
HSBC - North America comprises all of HSBC's U.S. and Canadian businesses, including the former Household International businesses. The company's businesses serve nearly 60 million customers in five key areas: personal financial services, consumer finance, commercial banking, private banking and corporate investment banking and markets. Financial products and services are offered under the HSBC, HFC and Beneficial brands. For more information, visit www.hsbcusa.com.

 

Media Contacts

• Cindy Savio
• cindy.d.savio@us.hsbc.com
• HSBC - North America
• 847.564.7962