20 Things You Didn’t Know about Evine
Evine is a digital retailer with multiple platforms. It reaches more than 87 million homes via cable and satellite in the U.S. Its headquarters are in Eden Prairie, Minnesota. It’s the third largest home shopping television channel after HSN and QVC. Its parent company is ValueVision Media. Since the company was founded in 1990, it has gone through multiple names, logos, and corporate restructuring. Along the way, the restructuring has also included multiple changes in corporate leadership. The company has numerous affiliates and has not only broadcast from its various studios, but also live on location from around the world. It’s a fascinating shopping arena reaching out to varied tastes with varied product offerings. It’s difficult to follow the chain of corporate name changes and management, but in the end, it is a company that sells interesting products quite well and the numerous celebrity appearances are pretty spectacular, too.
1. Evine has gone through four name changes.
It was founded as ValueVision in 1990 and was the television retail name for ValueVision Media Inc. which submitted its Form 10-K Annual Report for the Fiscal Year ended January 31, 2002 as ValueVision International, Inc.; which is noted as the “Exact Name of Registrant as Specified in Its Charter”. ValueVision Media Inc. operated under its second name, ShopNBC from 2000 to 2013. Then, the TV shopping network and online retailer rebranded its business to its third name, ShopHQ, from 2013 to 2015. At the time, the company was the third largest TV retailer after QVC and HSN. A ShopNBC forum post by one fan noted that the new company name included “H” for one shopping channel and “Q” for the other. Speculation about NBC distancing itself from the company, and vice versa, filled the Internet. The company’s fourth television name was EvineLive from 2015 to 2016. Evine emerged in 2016, when the “Live” was dropped in July that year.
2. NBC granted ValueVision use of its famous Peacock symbol and the ShopNBC branded name.
The agreement between the two corporate entities took place in November 2000. The two giants agreed to explore joint opportunities such as merchandising and promotional related services. Extensive consumer research took place before the ShopNBC name emerged. Mark Begor, CFO and president, NBC Business Development and Interactive Media, described the “strong relationship” between the two companies. Gene McCaffery, CEO and chairman of ValueVision, expressed the excitement and pride the company had when becoming a new member of the “NBC family”.
3. Robin Leach, the host of Lifestyles of the Rich and Famous, became the celebrity host of ValueVision in 2001.
Robin Leach kept a constant schedule broadcasting from 24 ValueVision locations worldwide. At the same time, he had many guest appearances on the Oprah Show, the Discovery Channel, MTV, and PBS, to name just a few more. During all of it he found peace at his Italian-style villa at Jumby Bay Island in the Caribbean. He’d always had a dream that he could retire in the Caribbean, but he also kept homes on Manhattan, Candlewood Isle, Connecticut and in Las Vegas. Leach recently died on August 24, 2018 at his Las Vegas home, just five days before his birthdate of August 29. He was born in London in 1941. He brought his trademark Brit style to ValueVision in his typically luxurious way.
4. ValueVision International, Inc. paid a $215,000 civil penalty to resolve claims that it violated Federal Trade Commission (FTC) regulations.
The allegations were that ValueVision International, Inc. violated a previous FTC Act when it made health claims which were unsubstantiated concerning the dietary supplement Physicians’ RX. The FTC had issued an administrative complaint in July 2001 which charged that ValueVision had made these claims about a variety of anti-hair loss, cellulite treatment, and weight loss products. ValueVision responded with agreeing to settle the FTC charges with a proposed consent. By August 2001, the FTC issued its order, requiring ValueVision to substantiate any claims it made about advertised drug, food, or dietary supplements with reliable and competent scientific evidence. The FTC referred the issue to the Department of Justice and both complaint and proposed consent decree were filed in court in April 2003. The FTC released these details on its website on April 17, 2003.
5. When distinguished actor and artist Anthony Quinn died, ValueVision broadcast two tributes to his life and work.
Quinn had collaborated with the shopping network, making his art work and art-inspired jewelry available to customers during the year before he died. Quinn had been inspired by Picasso, whom he knew. Quinn was a painter and sculptor in addition to his 50 years of work in the theater and in films. He had debuted his jewelry line, titled “The Lady of Crete” and miniature reproductions of his oil paintings, the “Mini Gallery Series” during live appearance on ValueVision. The shopping network aired two tributes featuring footage from his time on the network where he reflected on his philosophy of life, his work in the arts, and his accomplishments.
6. ShopNBC teamed with Life Magazine to promote 60th Anniversary of Pearl Harbor memorabilia.
December 5, 2001 was the day the company announced the special one hour show which offered collectibles to history buffs and a wealth of information about the historic period. Commemorative coins, December 1941 LIFE magazine reprints, limited edition signed and numbered photography archive prints, DVDs and CDs including “Crusade in the Pacific” and “The War Years” were highlights of the event.
7. ValueVision announced its agreement to acquire FanBuzz in 2002.
The Minneapolis-based provider of merchandise for ESPN, USA Hockey, CNN/Sports Illustrated, the Chicago Bears, the Salt Lake 2002 Winter Games, and many of the world’s most-recognized brands, agreed to operate independently as a wholly owned subsidiary of ValueVision Media. It was expected that FanBuzz would bring in annual incremental revenue of more than $20 million based on sales of its licensed products and apparel. The National Hockey League, the NYPD, the U.S. Ski and Snowboard Team, the Boston Celtics, Elvis Presley Enterprises, the Washington Wizards, and the Bulls had all entered into commerce agreements with the company via FanBuzz by 2008.
8. The company had reached its 19th year and passed the milestone record of more than 1 million customers in 2010.
ShopNBC was reaching 75 million homes via satellite television and cable. The electronic retailer was viewed as a premium lifestyle brand. It was carried on DIRECTV channel 315 and DISH Network channels 134 and 228. It was also streaming live on the Internet. Owned and operated by ValueVision Media and trading on NASDAQ: VVTV, the company had added more than 250,000 customers within the 12 months preceding its record achievement announcement.
9. On April 13, 2011, ShopNBC announced its pre-order availability of The Royal Wedding CD, Album & Poster, of Prince William and Catherine Middleton’s April 29th ceremony in Westminster Abbey.
The TV retail launch of the official recording of the entire wedding ceremony became part of customer’s memorabilia and memories in an appealing promotion. The global excitement about the upcoming wedding had already reached fever pitch and many people who were unable to be in England to experience the incredible experiences surrounding the event were thrilled to be able to purchase these items. The Royal Wedding included music by The London Chamber Orchestra, The Choir of Westminster Abbey, The Fanfare Team of the Central Band of the Royal air Force, and The Chapel Royal Choir. A photo booklet was included with the complete wedding service order.
10. Evine has a nice company manifesto.
Titled “Our Manifesto”, it refers to the people of the company as risk-takers, rebels, and retail underdogs. Other descriptions include dreamers, trailblazers, and experimenters who have a passion for delivering value to customers, and who offer a joyous and exciting experience of shopping. Evine believes that its people focus every action, decision, relationship, and thought to share with its customers and “be aimed to better the great human experience”. The people of Evine are exhorted to be good at what they do, to be good to others, and to be good to themselves so that they can provide the inspiration for all others to be good to themselves as well.
11. Captain Sig Hansen presented Deadliest Catch inspired products as ValueVision Media began to rebrand ShopHQ to EVINE Live.
The networks Deadliest Catch collection featured seafood, kitchen, and cookware items presented by Sig Hansen, Captain of the Northwestern crab fishing vessel. Fans of the hit TV show were welcomed to interact and connect with Hansen live during a social chat hosted on ShopHQ’s Facebook page after the show. The Deadliest Catch show was the first of several new proprietary brands which signaled the company’s transition from ShopHG to EVINE Live as part of the rebranding process which had just begun. The full rebranding effort was scheduled to take place during the first half of 2015.
12. Mark Cuban, billionaire owner of the Dallas Mavericks presented “Mark Cuban’s American Dream”.
The entrepreneur premiered nine entrepreneurs live on ShopHQ showcasing the items produced by their companies. Cuban had personally invested in these innovative companies. The owners were invited to share their stories about how their dreams came true and the hard work it took for them to successfully realize the American Dream.
The Board of Directors announced the adoption of the Plan, which was designed to help preserve the value of potential tax benefits generated by net operating loss (NOL) carryforwards. These NOLs were used to offset future taxable income to potentially reduce future income tax obligations. The Company had approximately $486 million in state and federal NOLs which were available for offset future taxable income as of January 31, 2015. The federal NOLs will expire in 13 to 14 years dependent upon when they were first created, and in accordance with federal income tax law. The Company maintained full valuation allowance for its NOLs at the time. However, should the Company experience an ownership change as defined by IRS Code Section 382, the ability to utilize its NOLs could be limited substantially. At the time, the Company had no plans to issue new stock.
14. Frankie Avalon debuted Gourmet Italian Food on Evine.
Avalon appeared live on-air to premiere Frankie Avalon Foods. Avalon described his looking forward to returning home Philadelphia to enjoy his mother’s home cooked meals. He was always traveling for his career in entertainment and coming home to her food was still a highlight of his work years. Avalon was excited to share the authentic Italian recipes and high-quality foods sourced from around the world which comprised his food collection. The Evine-exclusive assortment included appetizers, entrées and desserts made with domestic and imported Italian ingredients. Avalon also premiered his cookbook, “Frankie Avalon’s Italian Family Cookbook: From Mom’s Kitchen to Mine and Yours”, making a limited number of signed copies available.
15. Evine secured a $17 million bank term loan in March 2016.
The 5-year bank term loan was secured with GACP Finance Co. LLC and matures in March 2021. The term loan bears interest at Libor plus 11.00%. Evine expected to use this loan for purposes related to strengthening the company’s general liquidity. Chairman and Interim CEO Bob Rosenblatt stated that the incremental liquidity would ensure that the company had the flexibility to be opportunistic with business operations to drive profitability and value for all company stakeholders.
16. On May 24, 2017, Evine announced a $4.5 Million registered direct offering of common stock.
The company announced that it had entered into definitive purchase agreements with investors to sell an aggregate of about 4 million shares of its common stock at the purchase price of $1.12 per share. Certain executive officers and directors of the company would pay $1.15 per share in the registered direct offering. The offering was expected to close about May 30, 2017, subject to satisfactory, customary closing conditions. No placement agent or underwriter was used to make the offering. The financial advisor to Evine Live Inc. was Craig-Hallum Capital Group LLC. The shelf registration statement on Form S-3 (File No. 333-203209) was declared effective by the U.S. SEC on May 19, 2015. A prospectus supplement concerning the shares was filed with the SEC.
17. Evine premiered “Bob Vila’s Outdoor Workshop” in June 2017.
The legendary host of “This Old House” debuted his collection of unique home improvement products for solving problems and simplifying tasks inside and outside the home. The unique assortment of DIY products curated by Vila were timed to coincide with summer home DIY projects. Vila had discovered items for all skill levels and were products not available at local hardware stores.
18. Evine Live Inc. agreed to sell its Boston television station for $13.5 million.
It was announced August 30, 2017 that Boston television station WWDP, which served the Boston market would be sold in a series of two transactions. CEO Bob Rosenblatt stated that proceeds from the deal would strengthen the company’s balance sheet after being used to reduce high-interest debt of $9.5 million in the first half of the year. The television station was considered a non-strategic asset and the sale allowed Evine to retire a remaining $6.2 million of high-interest debt. The cash remaining would be deployed for initiatives which would result in the highest shareholder return possible. The transaction details were filed with the SEC and the closing was expected late in 2017 or in the first quarter of fiscal 2018 pending FCC approval and satisfactory closing conditions.
19. In November 2018, Evine launched a partnership with Jane Fonda to develop a lifestyle fitness brand.
The brand will be presented from Evine’s new Los Angeles studio and office space. Fonda is scheduled to appear on Evine for a year to present fitness equipment, activewear, nutrition and health products, sophisticated athleisure wear, and to share her expertise in the area of fitness. Evine has plans to offer the brands at key retailers as well as on the show. Fonda indicated that she is pleased to partner with Evine because she will be able to offer creative fitness ideas for women over 50 where strong product offerings are lacking. Nicole Ostoya, Managing Director of Evine’s Brand Development division noted that Fonda’s values as an activist, expert, and artist are perfectly aligned with the things Evine customers want and that the company was “thrilled” with the new partnership.
20. Evine launched a new line of goat milk laundry soap in January 2019.
The products were premiered by Brook & Nora At Home, makers of goat milk laundry soap and other laundry products. The founder of the company, Rachel Bollin, described the products as the result of a family labor of love. The goat milk makes clothing very clean and soft. The soap is available in fragrance-free, lavender, eucalyptus and citrus options. There are essential oils, dryer balls, and stain sticks as well. All are free of synthetic fragrances, parabens, sulfates, and phthalates. They are cruelty-free and dominantly made in the U.S.A. Bollin developed the product line in response to her husband illness and her mission to free her home of the harsh chemicals found in many popular cleaning products.