Virgin plans giant leisure centres…

Virgin is planning to launch giant cinema, music, restaurant, and leisure complexes around the world.

As part of the plan it has consolidated its cinema and music retailing interests into one group, called the Virgin Entertainment Group.

Virgin has also secured a 150m credit facility which will be spread across its territories in the US, Europe, Japan, and the Far East to fund this expansion. It claims Virgin Entertainment is worth 350m.

Virgin founder Richard Branson says: “This will allow us to extend the scope of operation dramatically over the next couple of years.”

Simon Burke, Virgin Entertainment Group’s chief executive officer, was hired last November to merge the various operations.

He says: “To be purely a shopkeeper in the music or entertainment field is not enough. We want to offer people a quality night out under one roof.”

The first Virgin Entertainment centres will open in the US and Far East late next year but will not come to the UK until 1999.

Virgin will open six more cinemas in the UK, all with retail outlets inside.

However, retail consultant Clive Vaughan of Verdict Research, says: “These centres are hard to make work. The Trocadero in central London has struggled. What happens if you put one in Barnsley?”

Virgin Entertainment Group comprises Virgin Cinemas, Virgin Retail Europe, Virgin Stores and Virgin Entertainment Asia.

The Virgin European office in Uxbridge will close by the end of this year as part of the restructure, making about half of its 70 staff redundant. Its duties will be split between the group’s other offices in central London and Paris.

Latest from Marketing Week

PLEASE SIGN IN OR REGISTER. IT'S FREE, QUICK AND EASY!

Access Marketing Week’s wealth of insight, analysis and inspiration that will help you develop as a marketer and leader.

Register and receive the best content from the only title 100% dedicated to serving marketers' needs.

We’ll ask you just a few questions about what you do and where you work, so we can make Marketing Week more relevant to you.

Register now

THE BEST CONTENT

Our award winning editorial team and columnists will ask the biggest questions about the biggest issues on everything from strategy through to execution to help you navigate the fast moving modern marketing landscape.

THE BIGGEST ISSUES

From the opportunities and challenges of emerging technology to the need for greater effectiveness, from the challenge of measurement to building a marketing team fit for the future, we will be your guide.

PERSONAL AND PROFESSIONAL DEVELOPMENT

Information, inspiration and advice from the marketing world and beyond that will help you develop as a marketer and as a leader.

Dedicated to developing your skills and helping you achieve marketing excellence. Find guidance on leadership, professional development and the latest industry jobs.

Having problems?

Contact us on +44 (0)20 7292 3711 or email subscriptions@marketingweek.com

If you are looking for our Jobs site, please click here