Zulily CEO Darrell Cavens sold his online retailing company to QVC two years ago for $ 2.4 billion.
Now, Cavens is going to do a little shopping of his own — on behalf of his employer.
In a press release today laying out a new organizational structure, the West Chester, Pennsylvania-based company announced that Cavens will be vacating the Zulily CEO role to serve as president of New Ventures for QVC.
In that new role, Cavens — who prior to co-founding Zulily with Mark Vadon in 2009 worked at online jewelry retailer Blue Nile — will be charged with “driving innovative retail concepts” via “internal innovation, strategic partnerships, joint ventures and acquisitions.”
The goal with the Cavens-led effort — a new one for QVC — will be “to imagine and develop new forms of discovery-based shopping.”
That means Cavens will have the rare opportunity to identify new growth opportunities for QVC, which is in the process of buying the Home Shopping Network for $ 2.1 billion. QVC is owned by Liberty Interactive, which is led by former Microsoft CFO Greg Maffei. Maffei has strong ties to Seattle, having previously served on the board of Expedia. He currently serves as a director of Seattle-based Zillow Group.
It’s likely that Cavens will have a pretty big checkbook to work with in the new role. Liberty Interactive was sitting on $ 905 million in cash and liquid investments at the end of the second quarter.
In an email to GeekWire, Cavens said that he will remain in Seattle in the new role. But Cavens declined to elaborate further on what he’ll be doing.
QVC is looking to stay relevant amid changing times in the retail world — a time when Amazon continues to flex its retailing muscle, and Walmart looks to bolsters its position. Given that, Cavens will have his hands full in the new role.
As part of the changes, Zulily Chief Merchant Lori Twomey will become interim president of Zulily. QVC said that they plan to announce a “permanent leader” in the coming months at Zulily, which posted $ 1.5 billion in revenue last year.
The new leadership roles were part of sweeping executive changes at QVC in front of the close of the Home Shopping Network deal.
“Our new group will bring together QVC, HSN, zulily and the Cornerstone brands to create a premier global retailer with extraordinary reach and unlimited potential,” said QVC President Mike George. “Together, we will define a new generation of shopping that combines commerce, content, and multi-platform engagement to change the way She shops – all the while retaining the uniqueness of our well-known brands and continuing to build on our distinctive legacies.”
QVC, which generates $ 14 billion in annual revenue, described itself as “the #3 multi-category e-commerce retailer in North America and the #3 multi-category mobile retailer in the US.”