ValueVision Media, Inc. (NASDAQ: VVTV), a digital commerce company operating as ShopHQ, announced on November 18, 2014 it is changing its corporate name to EVINE Live Inc. effective immediately, marking an important next step in the Company's long-term strategy to become a true digital commerce company. Effective November 20, 2014, the Company's NASDAQ trading symbol will also change from VVTV to EVLV.
EVINE Live will focus on all things digital. The "Es" that bookend the EVINE Live brand speak to the ease, exclusivity and energy of this new entertaining consumer experience. The inclusion of the word "Live" is all about real-time impulses to act and interact on all digital platforms.
"On the heels of a solid third quarter, we strongly believe definitive change and innovation are necessary to build on our recent momentum and drive the Company to the next level," said Mark Bozek, CEO of EVINE Live. "We believe that fully embracing this new transformation will enable EVINE Live to forge new paths and new relationships that allow us to be far more competitive, far more creative, and far more disruptive on all our platforms. EVINE Live has the opportunity to be fearless in our strategies to transform the worlds of retail and entertainment while, at the same time, driving greater consumer engagement."
The Company expects to transition from doing business as "ShopHQ" to "EVINE Live" over the coming months, with the complete rebranding planned to take place first half of 2015. In the coming months, the Company intends to introduce new proprietary brands from the worlds of fashion, beauty, jewelry, home and fitness. "The new approach should enable us to build a stronger foundation for long-term growth," added Bozek.
Investor Information Links:
EVINE Live Goldman Sachs Presentation: click here
EVINE Live Announcement Press Release: click here
Q3 Earnings Press Release: click here
Data as of November 1, 2014