Olive Oil wrote:
In The Know wrote:
Surprised that this has attracted no comment -
Branson sells the chain that founded his empire -
http://www.dailymail.co.uk/pages/live/articles/news/news.html?in_article_id=482251&in_page_id=1770
He's just sold the Virgin Megastore chain and wiped his hands of it. The new owners aren't even using the Virgin name, but calling it Zavvi. Unusual as Branson usually let new owners retain the brand - eg: Virgin Records (the label), Virgin Cola, Virgin Radio etc. You've got to wonder why they can't use the name. Is it because, like most other buy-outs of entertainment retailers - they don't stay in business long, and he doesn't want the Virgin brand tarnished?
While the Zavvi name is dreadful...I think they were wise not to keep the Virgin brand. It's too synonymous with Record stores and as I understand it, the Zavvi approach is multi-faceted and more gadget orientated...i.e. they'll be selling games, videos and other content, as well as music.
In the same breath, I would hazard that less than 50% of the Virgin Megastore business was from music prior to the buyout.
If they kept the name..people would assume it's just a standard takeover...same stuff different name above the shop.
by dropping the name, people will be curious to what they're going to be selling when they re-open under the new name.
That's just my 2.0 cents.
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