Virgin planning electricals brand
US acquisitions considered, says Branson
October 18 2002
Virgin boss Richard Branson has told US reported that the brand is planning to extend further into consumer electronics, as well as looking at US acquisitions to expand the Virgin Megastore chain.
Branson, whose empire now ranges from airlines to mobile phones, and retail to online entertainment, told a Los Angeles press conference the company is looking at Virgin branded consumer electronics. Virgin Megatores already sell portable stereos and similar items, although Branson added that the intention is to keep the Megastore brand at least 80 per cent music.
That raises the possibility of standalone Virgin electricals stores which could sell Virgin Mobile products as well as other consumer electronics.
Commenting on rumours of acquisitions of other retailers in the US to expand the Megastore business, Branson said: “There may be some opportunities there. We have been approached by one or two.”
The Radio Free Virgin Web site will offer paid music downloads form this week, with plans to extend the offer to downloads directly onto portable devices at Megastore kiosks.
