Liberty Interactive shops for zulily
| 19 August 2015
QVC's parent company, Liberty Interactive, looks to have got into the swing of its shopping channel and has hit the purchase button for retailer zulily.
Launched in 2010, zulily offers curated collections including clothing, shoes, home décor, toys and gifts. It claims to feature unique products from up-and-coming brands alongside those from top names, giving customers something new to discover each day.
Under the terms of the deal, valued at $2.4 billion, zulily will join the QVC Group to create a powerful multi-platform and multi-brand retailer whose platforms represent combined annual revenues of more than $10 billion from 19 million customers in 85 countries.
QVC and zulily will operate as separate consumer-facing brands but will aim to get the best from their combined assets, such as using QVC's global scale, curation, vendor relationships and video commerce expertise at zulily. Similarly, QVC is looking to take advantage of zulily's younger customer demographic, personalisation expertise and eCommerce capabilities.
"We are excited for zulily to join the Liberty family," said Greg Maffei, Liberty Interactive president and CEO. "[zulily has] built an impressive business around entertainment, discovery and value to the customer, which fits perfectly with the QVC philosophy. Combined under Liberty, we have an incredible opportunity to delight shoppers from the TV to the Internet."
"[We] are incredibly excited to announce our partnership with QVC. QVC has built an amazing business with a great culture and incredibly similar understanding for bringing entertainment, discovery and value into the daily customer experience," added Darrell Cavens, president and CEO of zulily. "This combination under Liberty is about investing in our future and providing a tremendous opportunity to accelerate our platform for growth of the zulily brand through the partnership with QVC."