Zerostock launches 'Cornerstone' brand

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Hyderabad-based Zerostock Retail Pvt Ltd has launched 'Cornerstone' brand of menswear through 5 exclusive outlets in the city on Thursday. The company is planning to enhance the number of outlets in the country to 300 by the end of the calendar year and to 1,000 outlets by end 2009.

The company had already raised and invested $4 million (approximately Rs 16.02 crore) from angel investors for the business. It is planning to raise further Rs 50 crore from private equity funds and venture capitalists in a matter of 2-3 months for its expansion plans.

Speaking at a press conference here on Thursday, Ashok Mayya, chief executive officer of the company said, "our brand will score over other brands on variety, quality and value. Nearly 50% of our entire collection of menswear will have over 100 counts meaning high quality and finer fabric and they will be available at prices atleast 30% below the market. We will have a wide range of sizes and variety of designs. For example, we will have at least 200 designs and 11 sizes for our formal shirts."

"We are going to follow the zero inventory model. So, all a customer has to do is walk into any of our stores, figure out the size which will fit them with the trial shirts on display and then select the design and the material of the shirt. Once the transaction is done the shirt will be despatched to the customer within a matter of 24 hours to 48 hours from our centralised inventory at no additional cost. We have tied up with AFL logistics providers for the delivery. There is an centralised inventory in Hyderabad and we will more such set up across the country," he said.