Home Shopping Gaining in China
ST. PETERSBURG, Fla. (AP) _ Home Shopping Network, a virtual symbol of American’s desire to shop around the clock, is making inroads into the People’s Republic of China.
The network has purchased a 21 percent stake in a Chinese cable company that serves about 19 million households. It reaches just a small portion of China’s 1.2 billion people, but Home Shopping Network officials expect the number of cable subscribers in the communist country to grow.
The terms of the deal with TVSN (China) Holdings Ltd. were not disclosed.
With the alliance, Home Shopping Network also gains a source for Chinese-made products to sell to its U.S. customers.
Currently there are 75 million to 85 million cable subscribers in China, said Jed Trosper, chief executive officer for Home Shopping Network’s International Division.
``If we wanted to reach 85 million homes in Europe, we’d have to be in six countries,″ he said.
HSN already airs TV shopping channels in Japan, Austria, Switzerland, Belgium and France.
TVSN launched its broadcasts about eight months ago from Shanghai. Like American home shopping channels, its big sellers are jewelry, including the home shopping standby cubic zirconia and cosmetics, although the network has tapped into the Chinese fondness for models of NASCAR and Formula One race cars.