What’s an EVINE?
EVINE Live bills itself as a cable, satellite and broadcast television network. It is the distant third national television network, which is dedicated to selling products to shoppers viewing at home.
Despite several name and branding changes through its relatively short history, annual sales continue to rise modestly and dependably year after year. According to Chain Store Guide’s database of Discount Stores & Specialty Retailers, total annual sales for the most recent three year period came in at $674,618,000 (Jan. 2015) from $640,489,000 (Feb. 2014) from $586,820,000 (Feb. 2013). These increases are not terribly encouraging but do suggest promise for the future.
During its 25 year history the company has gone through several brand names, beginning with ValueVision. On entering its second decade, NBC bought a share of the company. This rapidly resulted in a change of company name and branding. The company became ShopNBC and incorporated the renowned NBC peacock into its logo.
Five years ago NBC decided to eventually sell its interest in the shopping network back to the ValueVision contingent, in part due to pressures surrounding its coming merger with Comcast. Two years ago the network was renamed ShopHQ.
This past February, the company dropped the ShopHQ name and was rebranded to EVINE Live, due to the acquisition of an eCommerce company whose website is called Evine.
As they say, ‘What’s in a name?’
Last June, Mark Bozek was brought in as the new CEO. He was a former CEO at rival HSN. Penny Burnett was brought into the fold last month to reimage the network’s product and celebrity offerings, as Chief Merchandising Officer. The “Evinification” of the company has predictably brought several new executives into the fold as the company seeks greener pastures nearer to long-time industry leaders, QVC and HSN.
Mr. Bozek is credited with creating several successful brands at HSN, which remain among the top attractions at the network today. At that same time he introduced several on air personalities at HSN which remain iconic today, including Chef Wolfgang Puck. Later during his reign as CEO he presided over the very successful launch of HSN.com. He grew this avenue of the business to bring in over $100 million in 18 months. Mr. Bozek also was responsible for the launches of HSN in Japan, Europe and China. Earlier in his career he served as a Senior VP at QVC.
If Mr. Bozek can even approximate his previous successes at the rival shopping networks, EVINE Live Inc. may finally approach the promised-land. Then again with its checkered history, EVINE Live has a great deal of work ahead to even rival its competition. The network never fully reached its predicted potential when NBC came on board and lent its might brand.
Then again, ‘What’s in a name?’