Former online retailer Zulily is seeking buyers for all of its assets, Hilco Streambank announced Feb. 27. Hilco Streambank is an intellectual property advisory firm handling the sale.

Zulily shuttered in December 2023 following layoffs and “financial instability,” it said. Potential buyers will be able to purchase Zulily’s more than 200 trademarks, along with the Zulily.com domain, customer data, social media assets, and the retailer’s mobile app.

Offers are due by March 13, Hilco said. The firm is conducting the sale on behalf of Zulily’s creditors, who can negotiate and settle a deal before the deadline, according to the statement. 

What is Zulily worth?

The apparel and accessories retail generated $666 million in revenue in the 12 months ended November 2023, it said. Nearly 40% of those sales were in women’s apparel, followed by 22% in the home category and 21% in footwear.

Prior to liquidation, average order value was $65, with an average of 2.7 items per order. Conversion rate across channels was 3.2% in 2023. Zulily.com received approximately 273.6 million visitors over the year, Hilco said.

Zulily operated on a membership model, where customers had to be Zulily members to participate in flash deals. The asset sale includes customer files of 2.4 million consumers who made purchases in 2023.

“Zulily targeted an attractive audience — discount shoppers looking for the best deals on women’s and kids’ apparel, footwear, and home goods — of which there are over 2.5 million that made a purchase in 2023,” Hilco Streambank senior vice president Richelle Kalnit said. “A buyer of Zulily’s IP will have a prime opportunity to re-engage these customers and to build on the Zulily brand recognition, including over 6.4 million social media followers across platforms, to acquire new ones.”

In January, liquidation and restructuring firm Gordon Brothers announced it was seeking a buyer for Zulily’s inventory and fulfillment center. The sale included $85 million in inventory and two 775,000-square-foot fulfillment centers.

Why Zulily shut down

Zulily’s leadership opted to shut down the retailer’s operations after a tumultuous 2023. In a letter posted to Zulily’s website, it “made the difficult but necessary decision to conduct an orderly wind-down of the business to maximize value for the companies’ creditors.”

“This decision was not easy nor was it entered into lightly,” the letter continues. “However, given the challenging business environment in which Zulily operated, and the corresponding financial instability, Zulily decided to take immediate and swift action.”

All pending orders were planned to have been fulfilled by Jan. 22. 

After launching in 2010, Zulily faced continuous competition from Amazon. In December, it filed a lawsuit accusing the ecommerce retailer of trying to destroy Zulily through price-fixing.

In May 2023, Zulily was acquired by private equity firm Regent and Baker for an undisclosed amount. Zulily was previously part of Qurate Retail Group, which also operates QVC and HSN. Qurate acquired Zulily in 2015 for $2.4 billion. 

Qurate ranks No. 18 in the Top 1000, Digital Commerce 360’s database of the largest North American e-retailers by online sales. Digital Commerce 360 categorizes Qurate as a Mass Merchant in its Top 1000 database.

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