Universal Funding recently had an inquiry for our invoice factoring services from a Zulily supplier. The Seattle-based flash sale site, Zulily, was recently acquired by Liberty Interactive (the same company that owns QVC), for $2.4 billion dollars. Liberty’s ultimate goal in the purchase was the buying power of the “millennial mom” demographic that makes up the majority of Zulily buyers.
Zulily suppliers were notified that their terms will now echo QVC’s 30-day terms. Ultimately, this policy left suppliers waiting 30+ days to be paid for their delivered merchandise. The inquiring supplier was notified of the new 30-day terms and they were provided with QVC’s recommended factoring company, Lending Club. After getting a quote from Lending Club and not wanting their high rates, they called Universal Funding to seek a competitive rate proposal.
Increasingly big retail corporations are flexing their muscle causing a cash flow issue for suppliers. If your company is a supplier for Zulily and you need fast affordable funding, contact Universal Funding today at 1-800-405-6035 or fill out a rate form and one of our business development specialists will get in touch with you right away to learn about your business.