QVC is an American free-to-air television network and flagship shopping channel. It specializes in televised home shopping. The network is owned by Qurate Retail Group. Founded in 1974, QVC has expanded internationally and is a leading source of fashion and home decor. In this article, we’ll discuss the company’s history, on-air personalities, and international expansion. Moreover, we’ll look at the company’s relationship with Saks Fifth Avenue.
Comcast’s unsuccessful bid to buy QVC
The deal would have made CBS, the third largest cable company, the majority shareholder in QVC, with a combined ownership of 4.5 percent. But the network broadcaster didn’t want to be in the merger, which would have resulted in Comcast owning only 15.5 percent of the combined company. That’s why the Philadelphia-based cable company, which owns about 3.5 million subscribers, decided to purchase QVC outright instead. The acquisition would bring in $3 billion in revenue for the combined company.
Despite the lack of interest in a CBS-QVC merger, the two companies are among the nation’s largest cable providers. Comcast had $1.3 billion in revenue last year, a third of the market for cable operators. Its largest competitors are Time Warner and Tele-Communications. Liberty Media, which owns 17 percent of QVC, is controlled by the chairman of Tele-Communications. Malone, who was unsatisfied with the Comcast bid, has said he would prefer a merger with CBS at a higher price.
QVC’s international expansion
As the domestic sales of its home shopping channel continue to grow, QVC is now expanding internationally. The company will launch QVC Italy in October 2010, and by 2011 will have four electronic retailing operations abroad. QVC will broadcast its programming on the Telecom Italia Media Broadcasting DTT system, which reaches 6.1 million homes in Italy. In January 2010, it will reach an additional 8.8 million homes. QVC already has international broadcast operations in Germany, Japan, and the United Kingdom.
The results of QVC-International operations were positive in all segments. The company shipped a higher volume of products and increased its ASP by 1.5%. Revenues grew by 4.6%, with increases in Germany and the U.K. The company also experienced shipments growth in its home and beauty categories, while other categories decreased. However, QVC is focusing on international growth to grow its business and continue to offer products to consumers worldwide.
Its relationship with Saks Fifth Avenue
Since its founding in 1924, the New York flagship department store of Saks Fifth Avenue has remained a pillar of the luxury fashion industry. From in-store art exhibitions to world-famous window displays to the exclusive salons, the department store has redefined luxury shopping. In the process, the department store has launched several successful fashion careers, including Marc Jacobs and also Estee Lauder. Today, the names of these top brands can be found in the closets of the rich and famous.
In the fashion and home category, QVC has long offered exclusive brands. Now, it’s looking into prestige beauty. Beauty is a huge category, and it seems that QVC has an eye on this market. The recent $13 million funding of Glossier has demonstrated that this market is thriving. Additionally, drugstores and department stores are expanding their beauty offerings, while Amazon is launching its own private labels.
Its on-air hosts
Many fans are wondering who is leaving QVC, and the answer is none other than its on-air hosts. In addition to Stacey Stauffer, popular QVC on-air hosts Antonella Nester and Gabrielle Kerr are also stepping down. Despite their popularity, many fans weren’t happy with the change. Here are some facts about QVC’s on-air hosts. They were all hired from different companies.
As of 2018, QVC employs approximately 17,000 people worldwide, including 120 on-air hosts. The company is still thriving and has surpassed 50% of all sales online. It is the third-largest online retailer in the United States. As the world grows, the company continues to expand and introduce new products, making it a desirable career choice for many people. QVC’s on-air hosts can earn six-figure salaries.
Its Internet shopping
If you haven’t already, you might be wondering how QVC’s Internet shopping compares to other retailers’. As the sister channel of HSN, QVC reaches 380 million homes around the world, and also is gaining a large audience for its live sales pitches. Products on QVC range from mattresses to mops, cooking supplies to jewelry. The question is: is live shopping better for QVC or HSN?
Final Words:
The answer to this question is, of course, in the sales numbers. QVC’s sales figures prove that the audience is eager to see the merchandise on display. In fact, one host is even known to dance while demonstrating a food product, which leads to sales spikes. Additionally, QVC’s hosts are trained to persuade viewers and show them how their products work. In addition to being highly trained in the products they sell, hosts also interact with models, off-screen analysts, and callers.
