QVC founder Joseph Segel dies at 88

The company, Qurate Retail Group, remembered Segel as the "quintessential entrepreneur." His career saw him delve into diverse industries like publishing, minting, aviation, software and broadcasting, it said.

"Joe Segel was a remarkable leader, entrepreneur, marketer, teacher, and friend," said Qurate Retail President and CEO Mike George.

"He was a visionary whose ideas changed the way the world shops," he said.

Born in Philadelphia on January 9, 1931, Segel would go on to found QVC (short for "Quality Value Convenience") in 1986. At the time of its first broadcast, it was available in 20 states, the news release said. Today, it reaches 380 million homes around the world.

Segel retired as QVC's chairman in 1993 but remained an adviser until 2013.

CNN's Alec Snyder contributed to this report.

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