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  • #329461

    Michelle TVSQ
    Gazette Editor
    New York

    :coffee-read:    :cry: :bad:

    And here we go. As with most acquisitions, we’re starting to see more unpleasant impacts from the QVC/parent company acquisition of HSN :(

    A few days ago, we noticed shipping cost changes.

    Now, as Debra shared in another thread, hundreds of HSN employees will be ax-ed :(

    That’s why I dislike mergers. There’s always an impact to the operation, people, culture, and prices no matter what they say (I feel like the buyers mostly give false assurances). The only time I think it’s ok is if the other company would go under were they not purchased.

    The sad thing is – I’ve always enjoyed HSN’s quality and services more than QVC’s (i.e. their customer service, return process, quality checks, and shipping). I wish the acquisition was the other way around but QVC is the big fish in the tv shopping world.

    OUCH https://www.tampabay.com/news/business/retail/HSN-to-cut-hundreds-of-workers-as-it-merges-with-QVC-under-new-QXH-business-unit_172737721?fbclid=IwAR0yKDkv9idGViQEgd_UX54K5W9o1_bQtCTOr-vMVimDK2Zc2hq6063oBrc

    #329463

    Michelle TVSQ
    Gazette Editor
    New York

    In the article, it reads:

    For example, HSN is closing its “Ingenious Designs” offices in Long Island, N.Y. HSN design work will be shifted to the existing in-house team at Qurate’s offices in West Chester, Pa.

    I believe that is Joy Mangano‘s company / office (here is a Newsday interview with mention of the company) I can’t imagine Joy working out of Q’s PA office… wonder what will happen there?

     

    Joy is a giant @HSN so I imagine something will be worked out to her liking (I hope!) :unsure:

    #329464

    LadyNine
    Gazette Ambassador
    Pennsylvania

    Wow!

    If I were Joy, I’d be pretty mad, but I guess that’s what happens when HSN owns 100% of your company.

    Maybe she has a clause in there that protects her somehow. West Chester isn’t that big, so I can’t quite see how they’d move this company there, unless they’re just pulling a department up there or something.

    #329465

    LadyNine
    Gazette Ambassador
    Pennsylvania

    From the article:

    In 2017, HSN and QVC generated $8.5 billion in revenue, reached 100 million homes and shipped more than 170 million items, according to Qurate. Together, they have five at-home shopping networks.

    But Margolis doubts Qurate sees TV shopping as the future of retail.

    As shoppers cut the cord with cable companies and move toward streaming services, TV shopping networks are becoming less relevant and accessible.

    Those are HUGE numbers. But here’s the thing: They don’t see TV as relevant. “QVC realizes that five, seven, 10 years from now, television probably won’t exist as it does today,” Margolis said…”Will TV shopping even be around in 10 years?” he said.

    Whenever you have Wall Street in a company, you can have billions in sales and problems because of the stupid way Wall Street mismanages companies. See, for example, Toys R US, which only went under because of Wall Street mismanagement. It had billions in sales. Wall Street is the worst.

    #329466

    Debra
    Gazette Member
    Pennsylvania

    Speaking of moving/opening new offices- Evine just opened a location in LA for telecasts and a source told me that they are almost ready to announce another studio/office in NYC.

    also I will not be surprised if Evine is bought up by another online shopping giant that does not have a presence on a shopping network!

    #329471

    MichalkaManiac
    Gazette Subscriber
    New York

    Evine in NYC? Hope that’s true. It will be nice and interesting to have a (somewhat) local-based network in my area.

    #329472

    Michelle TVSQ
    Gazette Editor
    New York

    Another good tip, Debra! :yay2:

    Thank goodness the potential buyer is not from the shopping channel industry – WHEW!

    Speaking of moving/opening new offices- Evine just opened a location in LA for telecasts and a source told me that they are almost ready to announce another studio/office in NYC. also I will not be surprised if Evine is bought up by another online shopping giant that does not have a presence on a shopping network!

    #329473

    Michelle TVSQ
    Gazette Editor
    New York

    Nice to see a fellow NY-er around, Michalka :clap2:

    Evine in NYC? Hope that’s true. It will be nice and interesting to have a (somewhat) local-based network in my area.

    #329474

    Michelle TVSQ
    Gazette Editor
    New York

    I pretty much blame management for nearly everything in most cases :teehee:

    BTW, IMHO, cable companies, just like the old telephone companies, charge both businesses and consumers way too much money to participate. That’s partially why Shop LC is not in all cities or in them 24/7, and why Gemporia back when it was Rocks TV was available only on satellite television services like DISH and DIRECTV :rolleyes: I’m glad more and more entertainment are moving to live streaming which keeps the market competitive (new players can always show up to compete with existing services and keep things innovative, which in turn is good for us consumers) :twirlydance:

    From the article: In 2017, HSN and QVC generated $8.5 billion in revenue, reached 100 million homes and shipped more than 170 million items, according to Qurate. Together, they have five at-home shopping networks. But Margolis doubts Qurate sees TV shopping as the future of retail. As shoppers cut the cord with cable companies and move toward streaming services, TV shopping networks are becoming less relevant and accessible. Those are HUGE numbers. But here’s the thing: They don’t see TV as relevant. “QVC realizes that five, seven, 10 years from now, television probably won’t exist as it does today,” Margolis said…”Will TV shopping even be around in 10 years?” he said. Whenever you have Wall Street in a company, you can have billions in sales and problems because of the stupid way Wall Street mismanages companies. See, for example, Toys R US, which only went under because of Wall Street mismanagement. It had billions in sales. Wall Street is the worst.

    #329476

    LadyNine
    Gazette Ambassador
    Pennsylvania

    I think Margolis should resign with that outlook.

    It’d be interesting to see what Evine does in NYC. Both it and LA are high-rent areas, so they must have something planned !

    #329482

    Michelle TVSQ
    Gazette Editor
    New York

    Yep! Wouldn’t want a QVC repeat when they opened a LA studio in late-2011 but closed it within 1-2 months. That was weird. :coocoo:

    I’m rooting for Evine! :excited:

    #329483

    MichalkaManiac
    Gazette Subscriber
    New York

    Going back on topic, it’s going to be interesting to see if any hosts leave HSN or maybe jump ship to QVC (or vice-versa). :scratch:

    • This reply was modified 5 years, 8 months ago by  MichalkaManiac.
    • This reply was modified 5 years, 8 months ago by  MichalkaManiac. Reason: grammar
    #329487

    LadyNine
    Gazette Ambassador
    Pennsylvania

    I’d imagine we will see a few. The industry is so big.

    :coffeebuzz:  Here’s an article from AOL about what staffers were told:

    https://www.aol.com/article/entertainment/2018/05/23/tension-between-hsn-and-qvc-comes-to-a-head-over-condescending-email-report/23441652/

     

    Here’s an article of what footwear vendors think. It’s interesting what Bosco & Cates think  of the two:

    https://footwearnews.com/2017/business/retail/qvc-hsn-deal-fashion-brands-389866/

     

    #329488

    Michelle TVSQ
    Gazette Editor
    New York

    On air, QVC + HSN now call each other “sister channels”, but that email was so disrespectful to HSN employees and certainly not the right way to welcome the HSN family into the QVC family :nono2:

    It looks like there was a fallout for his unprofessional message – According to his LinkedIn professional profile, he left HSN in May :clap2:

    #329521

    Debra
    Gazette Member
    Pennsylvania

    Evine will stay in Minnesota, just have a small studio in NYC from what I told

Viewing 15 posts - 1 through 15 (of 21 total)

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