The group is combining its marketing departments across both retail chains as part of its continuing programme of “introducing synergies” across the business.
Sim will take over the marketing of both chains in the newly created role of group marketing director.
Three new teams will be created within the marketing department to maximise internal marketing resources and the use of external agencies.
In a statement HMV says: “In his new role Graham will be able to apply his significant expertise, knowledge and creativity to the ongoing development of both the Waterstone’s and HMV brands.”
Group CRM will be headed up by Matt Button, previously HMV head of CRM. He will take responsibility for the Purehmv (winner of a Marketing Week Engage award for CRM/loyalty) and Waterstone’s Card rewards schemes as well as e-comms, corporate sales and customer insight for both brands.
Brand marketing will be led by Lee Bannister, previously head of marketing and customer insight at Waterstone’s. His remit will expand to include advertising and promotions across the Waterstone’s, HMV and Fopp brands.
A brand creative team will be led by Mark Robertson, who will deliver creative concepts for campaign activity for each brand as well as store display creatives.
The group insists the two brands will “retain their unique identity” and not be rolled into one.
Separate HMV and Waterstone’s teams will report into Bannister, Button and Robertson.
Separately, HMV opened a 10th Fopp record store last week since rescuing the music chain from administration in 2007. Located in the ground floor of Waterstone’s London Gower Street store, it is the first tie up between the Fopp and Waterstone’s brands.
The restructure is effective from today (9 August).
Graham Sim, group marketing director for HMV and Waterstone’s, says: “HMV and Waterstone’s are two of the most appealing and iconic entertainment brands on the high street and within the online arena.
“I believe it will enable Waterstone’s and HMV to engage with their respective customers with even greater passion and emotional cut-through than ever.”
In June HMV reported a 17.7% rise in pre-tax profit to £74.2m and total sales increase 3.1% to more than £2bn, like for like sales in the UK dipped 2.4%. at the same time Waterstone’s reported a “disappointing” performance with like for like sales falling 6.2%. Its profit slumped by more than 70% to £2.8m.
Read Marketing Week’s editor Mark Choueke’s leader on marketing leadership, where he looks at how under chief executive Simon Fox and Graham Sim’s leadership, HMV is turning itself into an entertainment superbrand.