Viewers of online and cable TV shopping network Evine Live will see a new name and a new look starting Wednesday as the retailer returns to its previous name of ShopHQ.
Eden Prairie home shopping network is now ShopHQ again
Evine is rebranding to a former name in a broader effort to reignite home-shopping sales.
August 21, 2019 at 4:57PM
The new brand will appear across the retailer's on-air and online platforms.
Sets at the company's Eden Prairie studios have been refreshed, and a three-day "ShopHQ Launch Party" is planned with show stunts and deals, a spokeswoman said.
The network had operated as ShopHQ from 2013 to 2015. Before that, the channel had been known as ShopNBC and ValueVision. The Evine name never resonated with customers, said CEO Tim Peterman, who took over in May.
"We wanted to go back to a name that clearly stated what we do every day," the company explained in a Q&A for its customers.
The rebranding is part of Peterman's attempt to focus operations and bring the retailer into profitability. The company is a distant third to QVC and HSN in the TV shopping marketplace, and hasn't been profitable since 2017. The retailer is set to report second-quarter earnings Aug. 28.
The corporate enterprise was renamed iMedia Brands Inc. in July and began trading on the Nasdaq under the stock ticker IMBI. The company remains in danger of being delisted from the exchange if it can't get its stock above the $1 minimum for 10 consecutive days by Jan 12. Shares closed Tuesday at 44 cents.
In addition to ShopHQ — which sells products from jewelry and apparel to electronics — iMedia plans to launch a Spanish-speaking shopping channel called LaVenta Shopping Network and the Bulldog Shopping Network focused on merchandise for men.
The transition to the new name won't affect customers who have Evine branded credit cards or any of the customer-service numbers, the company said.
Even as companies look for new space and bring employees back in person, it’s not enough to offset space vacated in the wake of the pandemic. But some brokers and boosters are optimistic despite the ongoing challenges.
