Community Chat

[Foxxee]

Qurate Retail Announces Sale of Zulily to Regent

May 24, 2023 5:00 PM ET

“Qurate Retail” today announced that Regent, a Los Angeles-based investment firm with proven expertise in the retail and apparel sectors, has acquired Zulily. 

Zulily was a wholly owned subsidiary of Qurate Retail, the largest player in video commerce through its QVC and HSN businesses and the owner of Cornerstone Brands.

The divestiture aligns with Qurate Retail’s Project Athens transformation strategy articulated in June 2022 to optimize its brand portfolio.

“Zulily serves an important role for moms by offering a fun shopping experience, with brand names and special finds at incredible prices. We are confident Regent is the right partner for Zulily to continue serving its customers, while benefiting from Regent’s depth of operational and strategic expertise in the retail and apparel sectors,” said David Rawlinson, President & CEO of Qurate Retail.

“We are in the midst of a turnaround at Qurate Retail. This divestiture will allow our management team to better focus on our core video commerce assets, QVC and HSN, and the Cornerstone Brands, while preserving liquidity to further strengthen our balance sheet. I would like to thank Terry Boyle and the entire Zulily team for their continued hard work and commitment amidst a challenging retail environment.”

Regent is a global investment firm that owns and operates several international consumer brands including Club Monaco, DIM Paris, La Senza, Escada, and DiamondBack. Regent focuses on driving transformative change by strategically repositioning businesses and pursuing opportunities that can accelerate growth and innovation.

“We are excited to partner with the Zulily team to help the company return to its entrepreneurial roots as an independent business,” said Michael Reinstein, Chairman of Regent. “Zulily has been a trailblazer in using technology to create a compelling online customer experience.

"Their revolutionary logistics and fulfillment network has also set a new industry standard, and we are excited to leverage its immense potential to grow the Zulily business in new markets.”

Source: Bing

[chrystaltree]

Yes, it was in the news a couple of weeks ago.  

[geezerette]

And there were a couple of other threads about it.

[PA Mom-mom]

@Foxxee  Yes, there was a thread about it last week. The OP was @ValuSkr, I think. There may have been others.

ETA: I like to buy cute dresses for my GD from Zulily.

[Foxxee]

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@PA Mom-mom wrote:

@Foxxee  Yes, there was a thread about it last week. The OP was @ValuSkr, I think. There may have been others.

ETA: I like to buy cute dresses for my GD from Zulily.

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@PA Mom-mom 

I'm usually on top of things.  Must have been sleeping.

[PA Mom-mom]

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@Foxxee wrote:

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@PA Mom-mom wrote:

@Foxxee  Yes, there was a thread about it last week. The OP was @ValuSkr, I think. There may have been others.

ETA: I like to buy cute dresses for my GD from Zulily.

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@PA Mom-mom 

I'm usually on top of things.  Must have been sleeping.

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@Foxxee  I know that! 

[shoesnbags]

@Foxxee 

Yes, someone else posted it on this board.  But your post might be new to some who missed the earlier one(s), so no problem. 

[Love my grandkids]

@Foxxee Yes. There was a post here recently about it and it's been in the news.

[Trix]

@Foxxee  Thank you for posting this.  I usually keep up with retail business news, but due to other things going on with me, I missed this news.  It's appreciated by those who may have missed the first round of postings about news if someone comes along later and reports it again.   

[febe1]

I've thought that Rawlings wasn't brought in to save the Q. Instead, a way to exit.