Qurate Retail Group Announces New Executives to Lead Streaming and QVC US Merchandising
On September 7, 2022, Qurate Retail Group announced key executive appointments to boost its video commerce and merchandising strategies. Soumya Sriraman, formerly of Amazon, has been named President of Streaming, leading QVC+ and HSN+ initiatives. Stacy Bowe, previously with G-III Apparel Group, becomes Chief Merchandising Officer for QVC US. These roles are part of Qurate's broader strategy to enhance customer engagement and grow its video streaming shopping business, which generated $8.3 billion in revenue in fiscal 2021.
- Appointment of Soumya Sriraman enhances leadership in streaming commerce.
- Stacy Bowe's experience aims to revitalize QVC's merchandising strategy.
- Streaming viewership increased by over 70% this year.
- None.
Global vCommerce leader taps top retail talent from Amazon and G-III Apparel Group to drive strategic priorities in video streaming shopping and customer experience and relationships
WEST CHESTER, Pa., Sept. 7, 2022 /PRNewswire/ -- Qurate Retail GroupSM, a world leader in video commerce ("vCommerce") across linear TV, ecommerce sites, digital streaming and social platforms, today announced two executive leadership appointments as the company moves quickly to differentiate its flagship QVC® and HSN® brands, strengthen its customer relationships, and grow its video streaming shopping business. Qurate Retail Group, QVC and HSN are part of Qurate Retail, Inc. (NASDAQ: QRTEA, QRTEB, QRTEP), a Fortune 500 company.
- Soumya Sriraman, who was most recently Head of Prime Video Channels at Amazon, has been named President of Streaming for Qurate Retail Group, effective September 7, 2022. Qurate Retail Group's newest business unit, vCommerce Ventures, operates the company's streaming service and is designed to accelerate the company's ownership of digital live streaming shopping, beyond QVC's and HSN's traditional multiplatform experiences.
- Stacy Bowe, who previously held senior merchandising positions at G-III Apparel Group and Macy's, was named Chief Merchandising Officer, QVC US, effective September 6, 2022. In FY 2021, QVC US represented approximately three quarters of Qurate Retail Group's
$8.3 billion in vCommerce revenue in the U.S. (HSN represented the rest).
"These appointments reflect Qurate Retail Group's ability to attract the most accomplished and ambitious executive talent in retail," said David Rawlinson II, President and CEO, Qurate Retail, Inc. "Our vCommerce teams – QVC, HSN and vCommerce Ventures – are disrupting video shopping and we believe we have a right to win in this growing industry. In addition, we are accelerating the pace of change within Qurate Retail Group through Project Athens, our turnaround plan, which touches nearly every facet of our business. We're pleased to welcome Soumya and Stacy to our team."
Here's a closer look at each of these executive appointments.
In her newly created role, Sriraman will lead Qurate Retail Group's streaming commerce business, which includes the QVC+ and HSN+ streaming experience, QVC's and HSN's expanding presence on digital livestreaming TV, and other opportunities. As a foundation, she will engage and expand Qurate Retail Group's world-class streaming commerce team.
Sriraman is an experienced CEO and general manager with deep expertise and record of success in building streaming businesses, across a variety of media companies, that have generated strong growth in subscription VOD, monthly active users (MAUs) and revenue. She most recently led Amazon's Channels business, which offers add-on subscription services to à la carte channels such as Paramount+, Discovery+, Starz, PBS and many others to Amazon Prime members. Prior to Amazon, Sriraman was the founding CEO and President of BritBox, the first-of-its-kind SVOD from the two national broadcasters in the UK, BBC and ITV. In that capacity, she designed, built and launched this targeted streaming service, which now boasts more than 3 million subscribers worldwide. During Sriraman's tenure, BritBox was the fastest growing streaming service of its kind. At BritBox, Sriraman produced the strategic content roadmap and several innovative shows, including the live telecast of "Harry and Meghan: The Royal Wedding," a first-of-its-kind streaming event, apart from many other originals. Multichannel News recognized Sriraman for her incredible work at BritBox, and awarded her, along with an exclusive class of her peers, the inaugural "Wonder Woman in Streaming Award."
Previously, she served as Executive Vice President of Franchise and Digital Enterprises at BBC Studios, where she expanded consumer facing businesses for key BBC brands and led the first ever theatrical release of a TV series – "Doctor Who 50th Anniversary." Prior to joining BBC, Soumya held senior and executive positions at Tartan, Vivendi Universal, Warner Brothers and Universal Studios, leading a broad range of businesses and initiatives.
Sriraman reports to Mary Campbell, President of vCommerce Ventures.
Streaming plays a critical role in Qurate Retail Group's growth strategies. With its recent launch on the web, the QVC+ and HSN+ streaming experience is available to approximately 120 million internet-connected homes across the U.S. The streaming experience is also available on Roku; Comcast X1, Xfinity Flex and X-Class TV; Amazon Fire TV; LG; Apple TV; and Android TV, the Google Play Store and Google TV.
Since the beginning of the year, streaming viewership has grown by more than
On linear TV, QVC's and HSN's channels are available in 92M U.S. homes via cable/satellite TV, free over-the-air TV, and digital livestreaming TV.
As Chief Merchandising Officer, Bowe will develop and lead QVC's merchandising strategy across all product categories – from home and fashion to beauty, electronics and jewelry – to reenergize QVC's assortments, delight customers, differentiate the brand on existing and next-generation platforms, and drive growth. She will oversee QVC's Buying, Planning & Programming organization and will lead QVC's Design Development & Global Sourcing (DDGS) team. DDGS is an in-house agency that brings new brands, products and concepts to life in apparel, accessories, outerwear and home décor. Bowe will drive innovation and foster an environment that empowers and motivates both vendors and team members.
Bowe comes to Qurate Retail Group with extensive merchandising experience and a proven ability to help omnichannel, multicategory retailers differentiate themselves, deepen customer engagement, and drive sales. She most recently led Global eCommerce and Digital Marketing for G-III Apparel Group, which designs, sources and markets apparel and accessories under owned, licensed and private label brands. G-III Apparel Group is comprised of 30+ top brands, including global power brands DKNY, Donna Karan, Karl Lagerfeld and others.
Prior to this, Bowe spent over 20 years at Macy's and macys.com, serving in a variety of executive leadership roles. As SVP and General Merchandising Manager, she led Macy's Home Store business, with responsibility for buying, planning, product development, design and digital merchandising for the home category in-store and online. Previously, Bowe led the overall growth, merchandising and assortment strategy for macys.com. In this role, she led the digital team through a transformation to an omnichannel organization strategy and was responsible for fashion apparel, center core, kids, beauty and home.
Bowe reports to Mike Fitzharris, President of QVC US.
Qurate Retail GroupSM comprises seven leading retail brands – QVC®, HSN®, Zulily®, Ballard Designs®, Frontgate®, Garnet Hill® and Grandin Road® – all dedicated to providing a more human way to shop. Qurate Retail Group is the largest player in video commerce ("vCommerce"), which includes video-driven shopping across linear TV, ecommerce sites, digital streaming and social platforms. The retailer reaches more than 200 million homes worldwide via 14 television channels, which are widely available on cable/satellite TV, free over-the-air TV, and digital livestreaming TV. The retailer also reaches millions of customers via its QVC+ and HSN+ streaming experience, websites, mobile apps, social pages, print catalogs, and in-store destinations. Qurate Retail Group combines shopping and entertainment to curate products, experiences, conversations and communities for millions of highly discerning shoppers. Headquartered in West Chester, Pa., Qurate Retail Group has team members in the U.S., the U.K., Germany, Japan, Italy, Poland and China. For more information, visit www.qurateretailgroup.com, follow @QurateRetailGrp on Facebook, Instagram or Twitter, or follow Qurate Retail Group on YouTube or LinkedIn.
Qurate Retail, Inc. (NASDAQ: QRTEA, QRTEB, QRTEP) is a Fortune 500 company that includes the Qurate Retail Group portfolio of brands as well as other minority interests and green energy investments.
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SOURCE Qurate Retail Group
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