Beyond Sells Majority Stake in Zulily for $5 Million
Beyond, the parent company of Bed Bath & Beyond, buybuy Baby, Overstock, and Zulily, announced Tuesday it was selling off its Zulily brand to Lyons Trading Company for $5 million. Beyond will keep a 25 percent stake in the brand, according to a press release. The announcement comes one year after Beyond acquired Zulily. Lyons Trading Company, based in St. Paul, MN, also owns the off-price retailer Proozy.com.
Beyond COO Alex Thomas said the sale would enable the organization to focus on its largest growth opportunities. Arianne Lee, the company's president and CFO, said Beyond wants to be "laser focused on our core brands as we march toward profitability."
On Zulily.com, a message appeared Wednesday saying the brand's app and website would relaunch "in the near future." The message included a link to sign up for its "VIP Relaunch," with the link directing users to proozy.com.
Total Retail's Take: Zulily was originally a flash-sale site that had been a trailblazer in using technology to create a compelling online customer experience. It was valued at more than $7 billion in 2014, according to GeekWire, but started to see a decline in recent years.
This is the fourth time Zulily has changed hands since 2016. Launched in 2010, Zulily was acquired by QVC Group in 2016 after two years as a public company, then QVC Group sold it to investment firm Regent in 2023. Regent closed Zulily in December 2023, laying off all its workers and shutting down the site. Beyond acquired it in March 2024, saying the acquisition would "further strengthen Beyond's position in the off-price market, enhancing value for customers on the products they're looking for." Now we'll see if Zulily's next owner, Lyons Trading Company, can breathe new life into the once promising online retailer.
Marie Albiges is the managing editor for Women in Retail, Total Retail, and Women Leading Travel & Hospitality. She is responsible for content development, management and production for the group. Marie is a former journalist, a travel aficionado, a French native and fitness enthusiast who lives in Philadelphia with her partner, stepdaughter and dog.
