Qurate Retail sold Zulily to Los Angeles-based investment firm Regent on May 24, 2023. The purchase price was not disclosed. Qurate said the sale would sharpen its focus on QVC, HSN and Cornerstone Brands and preserve liquidity; Zulily’s retailer later closed in December 2023, so the sale marked a change of ownership—not a lasting continuation of the original business.
Who bought Zulily from Qurate?
Qurate Retail announced on May 24, 2023, that Regent had acquired Zulily, which was then a wholly owned Qurate subsidiary. Qurate described Regent as a Los Angeles-based investment firm with experience in retail and apparel. Qurate’s announcement did not disclose the purchase price, and contemporaneous GeekWire reporting said it was undisclosed as well.
Qurate’s SEC filing says it repaid approximately $80 million of Zulily’s outstanding borrowing at the closing. That figure describes debt repaid by Qurate, not the amount Regent paid to acquire the company.
Why did Qurate sell Zulily?
Qurate presented the divestiture as part of Project Athens, its transformation strategy to optimize its portfolio, first articulated in June 2022. The company said the sale would allow it to concentrate on its other businesses and preserve liquidity. Qurate president and CEO David Rawlinson said: “This divestiture will allow our management team to better focus on our core video commerce assets, QVC and HSN, and the Cornerstone Brands, while preserving liquidity to further strengthen our balance sheet.” The statement was Qurate’s stated rationale; it does not establish that this was the only factor behind the decision.
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Zulily’s financial position at the time
GeekWire reported that Zulily’s first-quarter 2023 revenue fell 17% to $192 million and that the company recorded a $43 million operating loss. The same report noted that Qurate had bought Zulily in 2015 for $2.4 billion. These figures provide context for the sale, but Qurate’s announcement did not identify them as the sole reason for it. GeekWire’s 2023 account
What happened to Zulily after the sale?
The retailer did not remain a going concern for long under its new ownership. In December 2023, Zulily said it would close after efforts to salvage the business failed, according to the Associated Press. Its wind-down used an Assignment for the Benefit of Creditors process. AP reported that the company transferred its assets and business in trust to Zulily ABC, LLC, for creditor repayment through asset sales.
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Who owns the Zulily brand now?
The brand’s later ownership history is separate from Regent’s 2023 acquisition of the operating retailer. In 2024, Beyond acquired Zulily intellectual property and other brand assets for $4.5 million plus acquisition-related costs. In March 2025, Beyond announced an agreement to sell a 75% stake in the Zulily brand to Lyons Trading Company, operator of Proozy.com, while retaining 25%. Beyond’s announcement gave the price as $5 million; its SEC filing documents the transaction terms.
The $5 million consideration and approximately $6.7 million implied valuation relate to that later brand transaction, not to Regent’s 2023 acquisition. Beyond’s filing says $1.25 million was due upfront, with the remaining $3.75 million scheduled in quarterly installments beginning April 30, 2026, over five years. Beyond’s SEC filing
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How the two transactions differ
| Transaction | Buyer and asset | Price or consideration | What the transaction meant |
|---|---|---|---|
| May 2023 | Regent acquired Zulily, then Qurate’s operating retail subsidiary. | Purchase price not disclosed by Qurate or in GeekWire’s contemporaneous report. Qurate repaid approximately $80 million of Zulily borrowing at closing, according to its SEC filing. | Qurate said the divestiture supported portfolio optimization, focus on QVC, HSN and Cornerstone Brands, and liquidity. |
| 2024 | Beyond acquired Zulily intellectual property and other brand assets. | $4.5 million plus acquisition-related costs, according to Beyond’s announcement. | A transfer of brand assets after the retailer’s closure, not a purchase of the 2023 operating retailer. |
| March 2025 agreement | Lyons Trading Company agreed to acquire a 75% stake in the Zulily brand from Beyond; Beyond retained 25%. | $5 million, according to Beyond’s announcement and SEC filing; approximately $6.7 million implied brand valuation. | A later brand-rights transaction, distinct from Regent’s 2023 purchase. |
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