2/25/2009 12:19:00 PM
Virgin set to open more Media stores
Virgin is looking to quickly open 10 to 15 stores across the UK, on the back of losing its two most important retail partners.
The high profile collapse of Woolworths and Zavvi (formerly Virgin Megastore, with Virgin Mobile concessions) has created a large hole in Virgin Mobile’s distribution strategy.
The 10 to 15 stores will open as ‘soon as possible’, according to one source close to the matter. It is believed that several deals for prime locations are nearing conclusion.
Virgin is aiming for an initial 15 stores in the coming months, but has circulated a list of 40 locations to landlords as it will look at further development after assessing the initial phase.
The operator is likely to take advantage of dismal conditions in the retail property market, snapping up shorter leases than are normally given, as well as securing break clauses and cheaper rentals.
Stores will be branded as Virgin Media, selling broadband and TV as well as mobile devices.
The operator currently has just 23 stores, and has previously indicated reluctance for a broader retail footprint, preferring the telephone marketing and leafleting strategy that is also employed by TV rival Sky.
Virgin has declined to comment.