Home Shopping Latino Inc., doing business as Viva TeleCompras, is an all-Spanish language television and online shopping channel. The company is expecting to tap into the rapidly-growing spending power of the growing US Hispanic population with the only network of its kind in the United States.
The Hispanic population is the fastest growing demographic – 9.3 million households with a population of over 35 million – in the United States. Estimates are that by the middle of the century, 1 in every 4 Americans will be of Hispanic origin. By the year 2015, 12 out of every 100 purchases made in the US will be made by Spanish-speaking households. Recognizing this trend, the company expects to reach more than 85% of the Hispanic population in the United States.
The company announced back on September 23, 2009, that they and Shopping En Espanol Inc., a private Miami corporation, have both agreed in principle to join forces and begin setting in motion the launch of the company’s Latino network and website operations. Home Shopping Latino signed an agreement granting 50% of the common stock in the company to Shopping En Espanol for an investment of $20 million.
Shopping En Espanol will be granted two of the six seats on the company’s Board of Directors. This agreement is very important for Home Shopping Latino – in effect, it gets the company off the ground. Viva TeleCompras will use the $20 million to get its on-air operations up and running in the first quarter of 2010.
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