Former online retailer Zulily is searching for buyers for all of its assets, Hilco Streambank announced Feb. 27. Hilco Streambank is an mental property advisory firm handling the sale.
Zulily shuttered in December 2023 following layoffs and “financial instability,” it said. Potential buyers will give you the option to buy Zulily’s greater than 200 trademarks, together with the Zulily.com domain, customer data, social media assets, and the retailer’s mobile app.
Offers are due by March 13, Hilco said. The firm is conducting the sale on behalf of Zulily’s creditors, who can negotiate and settle a deal before the deadline, in accordance with the statement.
What’s Zulily price?
The apparel and accessories retail generated $666 million in revenue within the 12 months ended November 2023, it said. Nearly 40% of those sales were in women’s apparel, followed by 22% in the house category and 21% in footwear.
Prior to liquidation, average order value was $65, with a mean of two.7 items per order. Conversion rate across channels was 3.2% in 2023. Zulily.com received roughly 273.6 million visitors over the 12 months, Hilco said.
Zulily operated on a membership model, where customers needed to be Zulily members to take part in flash deals. The asset sale includes customer files of two.4 million consumers who made purchases in 2023.
“Zulily targeted a pretty audience — discount shoppers in search of one of the best deals on women’s and children’ apparel, footwear, and residential goods — of which there are over 2.5 million that made a purchase order in 2023,” Hilco Streambank senior vp Richelle Kalnit said. “A buyer of Zulily’s IP can have a main opportunity to re-engage these customers and to construct on the Zulily brand recognition, including over 6.4 million social media followers across platforms, to accumulate latest ones.”
In January, liquidation and restructuring firm Gordon Brothers announced it was searching for a buyer for Zulily’s inventory and success center. The sale included $85 million in inventory and two 775,000-square-foot success centers.
Why Zulily shut down
Zulily’s leadership opted to shut down the retailer’s operations after a tumultuous 2023. In a letter posted to Zulily’s website, it “made the difficult but vital decision to conduct an orderly wind-down of the business to maximise value for the businesses’ creditors.”
“This decision was demanding nor was it entered into frivolously,” the letter continues. “Nonetheless, given the difficult business environment by which Zulily operated, and the corresponding financial instability, Zulily decided to take immediate and swift motion.”
All pending orders were planned to have been fulfilled by Jan. 22.
After launching in 2010, Zulily faced continuous competition from Amazon. In December, it filed a lawsuit accusing the ecommerce retailer of attempting to destroy Zulily through price-fixing.
In May 2023, Zulily was acquired by private equity firm Regent and Baker for an undisclosed amount. Zulily was previously a part of Qurate Retail Group, which also operates QVC and HSN. Qurate acquired Zulily in 2015 for $2.4 billion.
Qurate ranks No. 18 within the Top 1000, Digital Commerce 360’s database of the biggest North American e-retailers by online sales. Digital Commerce 360 categorizes Qurate as a Mass Merchant in its Top 1000 database.
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