HSBC Retail Services Extends Agreement with Art Van Furniture
March 29th, 2006 Category FurnitureHSBC - North America’s retail services business(NYSE:HBC) has extended its long-term agreement with Art Van Furnitureto provide a private label credit card program. Ranked 12th inFurniture Today magazine’s “Top 100 U.S. Furniture Stores,” Art Vanoperates 29 stores in 28 cities throughout Michigan.
Since 1980, HSBC and Art Van have partnered to offer Art Vancustomers financing solutions for purchasing furniture, bedding andaccessories for their entire home. In 2001, Art Van and HSBC enhancedthe private label program by adding electronic signature capture forpoint of sale credit applications. Instead of filling out a paperapplication, a sales associate enters the guest’s information into ArtVan’s system, and the guest simply signs the signature pad. HSBCprovides a credit decision within seconds, along with a credit line sothat the customer can use their new buying power immediately. In 2005,features were added to the program to improve online credit programapplications and allow, for the first-time, online purchases that areboth simple and secure.
About Art Van
Art Van Furniture is a family-owned company that started with onesmall 4,000 square foot store in 1959. Today, Art Van is Michigan’slargest furniture retailer and America’s largest independent furnitureretailer, operating 29 stores in 28 cities throughout Michigan. Thecompany offers furnishings for the entire home and has won severallocal and national awards for their operations and communityinvolvement. For more information, visit www.artvan.com.
About HSBC Retail Services
HSBC Retail Services is a leading issuer of private label(merchant branded) credit cards in the United States. This businessprovides flexible, customized credit card solutions for many of theworld’s premier retailers and manufacturers and has more than 60active merchant relationships. For more information, visitwww.hsbcretailservices.com.
About HSBC - North America
HSBC - North America comprises all of HSBC’s U.S. and Canadianbusinesses, including the former Household businesses. The company’sbusinesses 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 andBeneficial brands. For more information, visit: www.hsbcusa.com.
