Home Shopping Europe GmbH, the parent company of the German teleshopping channel HSE24, has entered the Russian teleshopping market by purchasing a 49% stake in Shopping Live, a Russian teleshopping channel, and 100% stake in Direct Trade, which operates the retail part of the shopping channel Shopping Live.
Home Shopping Europe has purchased shares in Shopping Live and Direct Trade from the Russian internet business incubator Fast Lane Ventures and the Russian investors around Oskar Hartmann (founder and CEO of Russia’s leading online shopping club KupiVIP.ru). The management of Shopping Live and Oskar Hartmann will continue holding the remaining shares in Shopping Live. The foreign investors can hold no more than 49% shares in a Russian TV channel under the Russian Media Act.
Launched in July 2011, Shopping Live reaches 7.5 million out of 53 million Russian TV households via satellite and cable. According to National Mail Order Business Association (NADT), the Russian teleshopping market was valued at EUR 200 million in 2010.
Munich, Germany-headquartered Home Shopping Europe reported sales of EUR 470 million last year. 20% of sales came from online commerce. In June 2011, HSE24 was launched in Italy.