QVC Buys E-tailer Zulily

Since its inception in 2010, Zulily has established itself as a destination brand for Millennial customers through desktop, mobile websites and mobile apps that feature a curated, constantly changing collection of goods spanning apparel, accessories, children's apparel, home décor, toys and gifts. The company boasts a network of 10,000 vendor partners and approximately 56 percent of its orders are placed over Combined, the QVC and Zulily platforms represent annual revenues of more than $10 billion and 19 million customers in 85 countries.

When the transaction closes in Q4, each company will maintain its distinctive brand identity and leverage the partnership to expand both businesses' product lineup, brand portfolio and vendor network. Through Zulily, QVC will have access to additional platforms to market its assortment and to Zulily's digital content production system. Conversely,

Zulily's president and chief executive officer Darrell Cavens will continue to lead the business alongside the rest of Zulily's senior management team.

"QVC and Zulily share a passion for creating a unique shopping experience that is rooted in discovery and brings carefully curated products to life," says Mike George, president and chief executive officer, QVC. "As online shopping evolves, this partnership brings together two high-performing and highly complementary leaders in e-commerce."