QVC Launches Global Business Operation To Boost Efficiency, Accelerate Business

The QVC-owned GBS organization is expected to help QVC maintain its competitive edge in a vastly changing, dynamic and competitive global retail marketplace by increasing operational efficiency and establishing world-class global business practices. Starting in 2017, QVC will centralize critical processes and services in certain areas of the company's finance, human resources (HR), information technology (IT), and legal functions for its operations in the U.S., UK, Germany, Italy and France at the Krakow GBS. The estimated annual savings are USD $11 to $12 million once the GBS is fully operational. 

"QVC is the world's most powerful and engaging social shopping experience, reaching millions of people worldwide," said Mike George, QVC president and CEO. "As we look to expand and adapt to a dynamic retail landscape, this model will allow us to continue to modernize how we operate as a global entity."

Staffed by QVC team members, the new center will employ best practices, standardized procedures and shared systems to deliver high-value services to the business and increase operational efficiency.

The high-quality business environment and workforce with multilingual capabilities in Krakow will help QVC best prepare for continuous, strategic growth.

QVC is implementing a comprehensive training program for GBS employees to ensure delivery of the highest-value services to the business as well to create a values-driven employee experience for team members.

Forward-Looking Statement

This press release includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements about the number of GBS employees, the functions to be performed by the GBS, the impact of the GBS on QVC's business, the estimated annual savings from the GBS and other matters that are not historical facts. These forward-looking statements involve many risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements, including, without limitation, the ability of the GBS to perform the assigned functions, the ability of the GBS to manage costs and realize savings, and the ability of the GBS to attract and retain quality employees. These forward-looking statements speak only as of the date of this press release, and QVC expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statement contained herein to reflect any change in QVC's expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based. Please refer to the publicly filed documents of QVC, including the most recent Forms 10-K and 10-Q, for additional information about QVC and about the risks and uncertainties related to QVC's business which may affect the statements made in this press release.

About QVC

QVC, Inc., a wholly owned subsidiary of Liberty Interactive Corporation (NASDAQ: QVCA, QVCB), is the world's leading video and ecommerce retailer. QVC is committed to providing its customers with thousands of the most innovative and contemporary beauty, fashion, jewelry and home products. Its programming is distributed to approximately 360 million homes worldwide through operations in the U.S., Japan, Germany, United Kingdom, Italy, France and a joint venture in China. Based in West Chester, Pa. and founded in 1986, QVC has evolved from a TV shopping company to a leading ecommerce and mobile commerce retailer. The company's website, QVC.com, is ranked among the top general merchant Internet sites. QVC, Q, and the Q Ribbon Logo are registered service marks of ER Marks, Inc.