QVC owner buys Zulily shopping
August 17, 2015
John Malone’s Liberty Interactive Corp is to acquire Zulily in a cash-and-stock deal valued at $2.4 billion to tap the online retailer’s younger clientele and its strong mobile presence.
Zulily hosts “flash” sales of clothing primarily for women and children, and has Chinese ecommerce giant Alibaba as one of its shareholders.
Liberty Interactive, the media conglomerate which owns home shopping network QVC, is known for investing in a range of digital commerce businesses.
“Zulily’s younger customer demographic, personalisation expertise and ecommerce capabilities will boost QVC,” the companies said.
In the second quarter ended June 28th, about 56 per cent of Zulily’s orders were placed from a mobile device, up from about 49 per cent a year earlier.