QVC parent company pledges $29 million to coronavirus relief
Qurate Retail, parent company of QVC, HSN and several other brands has committed $29 million to support global needs and provide emergency pay and benefits to its team in response to the coronavirus pandemic.
The West Chester-based Qurate Retail is a multiplatform retailer with operations in seven countries. In addition to QVC and HSN, its other brands include Zulily, Ballard Designs, Frontgate, Garnet Hill, Grandin Road, and Ryllace.
The company announced on Thursday it is expanding its global relief efforts to support those who have been impacted by COVID-19.
Nineteen million dollars will be used to support the company’s 25,000 employees — providing supplemental benefits to help offset healthcare costs associated with COVID-19, offering additional pay and benefits for team members who work on-site, and providing on-site employees with the option to stay-at-home.
An emergency assistance fund is also being established to provide one-time grants to employees impacted by the pandemic.
Another $10 million will provide financial grants to support team members worldwide who are most impacted by COVID-19, support a fundraising campaign with Meals on Wheels and No Kid Hungry, help the cancer community navigate COVID-19-related obstacles and support international organizations.
“Now more than ever, we are intensifying our efforts to help address urgent needs created by this pandemic, leveraging our financial resources, our broadcast networks and digital properties, the strong relationships we enjoy with our customers, and our heritage of supporting small businesses.” Mike George, Qurate Retail Inc. president and CEO, said in a press release, adding that the company has a deep commitment to its communities and is able to “bring people and resources together around important community challenges.”
QVC and HSN will support small business through Qurate Retail’s Small Business Spotlight initiative, in collaboration with the National Retail Federation (NRF) Foundation. Under the initiative, approximately 20 small businesses will be given access to production resources, television broadcasts and digital platforms to help each participating business share its story. In addition, a new virtual mentoring initiative will allow the businesses to get advice on solving a business problem related to COVID-19.
Qurate will also sponsor Nest’s Personal Protective Equipment (PPE) Purchase Initiative, a grant program designed to help artisan businesses shift to producing high-quality Personal Protective Equipment.
Source: The Times Herald