Video and e-commerce retailer QVC announced that its parent company, Liberty Interactive, has acquired Zulily for $2.4 billion. Under the transaction, Zulily will combine its millennial female expertise with QVC's appeal to older women to create an online powerhouse —appealing to women of many generations.
Zulily is one of the few retailers to exceed $1 billion in annual net sales in five years. The site focuses on bringing young moms special, daily finds through desktop, mobile sites and mobile apps that feature a curated selection spanning from fashion to toys. The company partners with 10,000 vendors and offers thousands of new products a day at a discount.
Combined, QVC and Zulily have an annual revenue of more than $10 billion, with 230 million units shipped to 85 countries around the world, and 19 million customers.
"QVC and Zulily share a passion for creating a unique shopping experience that is rooted in discovery and brings carefully curated products to life. Together, we will further engage modern women who love to shop in new and compelling ways," said Mike George, president and CEO, QVC. "As online shopping evolves, this partnership brings together two high-performing and highly-complementary leaders in e-commerce."
Each company will maintain its distinctive brand identity. Through Zulily, QVC will have access to additional platforms to market its unique assortment. And Zulily will be able to expand its category offerings through on-air and online programming events. QVC will leverage Zulily's technologies, which use historical and real-time data to customize offerings.
Reflected in the recent launch of QVC France, the company is focused on global growth and sees an opportunity to use Zulily's expertise in vendor relationships and platforms internationally.
Zulily, an online marketplace that has shined since becoming a public company at the end of 2013, began testing a return policy earlier this summer in consideration of overturning its strict rule of no returns.
-See this QVC press release
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