QVC Group Announces Plans for New Leadership Team and Structure
QVC Group Announces Plans for New Leadership Team and Structure to Drive Global Growth for the Next Generation of Shopping
Liberty Interactive Enters into Agreement to Acquire HSN, Inc.
Liberty Interactive Corporation ("Liberty Interactive") (Nasdaq: QVCA, QVCB, LVNTA, LVNTB) and HSN, Inc. ("HSNi") (Nasdaq: HSNI) today announced that they have entered into an agreement whereby Liberty Interactive will acquire the 62% of HSNi it does not already own in an all-stock transaction.
The Best of Retail, Media and Social
The QVC Group offers the most engaging shopping experiences, combining the best of retail, media and social. The QVC Group consists of eight leading retail brands: QVC, HSN, zulily, Ballard Designs, Frontgate, Garnet Hill, Grandin Road and Improvements. The QVC Group features curated collections of world-class and entrepreneurial products, presented in engaging, innovative ways, with outstanding customer service. In addition to being the world leader in video commerce, the QVC Group is #3 in ecommerce in North America and #3 in mobile commerce in the U.S. (according to Internet Retailer).
The QVC Group reaches over 360 million homes worldwide through 17 television networks (including a joint venture in China) and multiple ecommerce sites, social pages, mobile apps, print catalogs and in-store destinations -- aggregating large audiences of enthusiastic shoppers. The QVC Group delivers increasingly personalized content to customers through data analytics and machine learning. The brands of the QVC Group build strong personal connections and long-term relationships with customers, achieving outstanding levels of customer loyalty and retention. Headquartered in West Chester, Pa., the QVC Group has 27,000 team members in the US, the UK, Germany, Japan, Italy, France, Poland and China. The QVC Group is comprised of QVC, Inc., HSN, Inc. (which includes Cornerstone Brands), and zulily, LLC, each of which is a wholly owned subsidiary of Liberty Interactive Corporation, attributed to the QVC Group tracking stock (NASDAQ: QVCA, QVCB). QVC, Q, and the Q Ribbon Logo are registered service marks of ER Marks, Inc. For more information on Liberty Interactive Corporation, visit www.libertyinteractive.com.