Virgin Group

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Virgin Group Ltd.
Type Private limited company
Industry Conglomerate
Founded 1970 (1970)
Founders Richard Branson Nik Powell
Headquarters London, United Kingdom
Area served Global
Key people Richard Branson (Founder)
Peter Norris (Chairman)[1]
David Baxby (Co-CEO)
Josh Bayliss (Co-CEO)
Products Banking
Beverages
Travel
Video games
Consumer electronics
Financial Services
Films
Internet
Music
Radio
Books
Cosmetics
Jewellery
Houseware
Retail
Mobile Phones
Commercial spaceflight
Revenue £15 billion (2012)[2]
Employees Approximately 50,000
Website www.virgin.com

Virgin Group Ltd. is a British multinational branded venture capital conglomerate founded by entrepreneur Richard Branson.[3] Its core business areas are travel, entertainment and lifestyle, and it also manages ventures in financial services, transport, health care, food and drink, media and telecommunications; together, Virgin's businesses consist of more than 400 companies worldwide.

Virgin Group's date of incorporation is listed as 1989 by Companies House, who class it as a holding company; however Virgin's business and trading activities date to the 1970s. The net worth of Virgin Group as of September 2008 was £5.01 billion.

Name[edit]

The brand name "Virgin" arose when Branson and Powell were starting their first business, a record shop. They considered themselves virgins in business.[4] The current Virgin logo was originally sketched on a paper napkin by graphic designer Trevor Key and worked on by Ray Kyte.[5] Branson has described the "V" in the logo as an expressive tick, representing the Virgin seal of approval.[4]

Corporate affairs[edit]

Virgin Group operates from its headquarters at The Battleship Building in the Paddington district of the City of Westminster.[6] Previously it was in The School House in the London Borough of Hammersmith and Fulham.[7]

Although Branson retains complete ownership and control of the Virgin Brand, the commercial set-up of companies using it is varied and complex. Each of the companies operating under the Virgin brand is a separate entity, with Branson completely owning some and holding minority or majority stakes in others. Occasionally, he simply licenses the brand to a company that has purchased a division from him, such as Virgin Mobile USA, Virgin Mobile Australia, Virgin Radio, Virgin Music (now part of EMI) and Virgin Media (now part of Liberty Global).

In mid-May 2013, the Virgin Group expressed its intention to seek out opportunities in Australia's healthcare industry to consolidate on the Group's Australian fitness centres. The Group also owns more than 100 National Health Service (NHS) services in the United Kingdom and the healthcare division of medical services group Assura after entering the British healthcare industry in 2011.[8]

Subsidiaries and investments[edit]

References[edit]

  1. ^ "What We're About". Virgin.com. Retrieved 2014-04-13. 
  2. ^ "What We're About". Virgin.com. Retrieved 2013-05-06. 
  3. ^ "Virgin Group Ltd.: Private Company Information". BusinessWeek. Retrieved 2008-12-24. 
  4. ^ a b Richard Branson. Losing My Virginity. ISBN 1-8522-7684-3. [page needed]
  5. ^ "How have Britain's biggest consumer names won - and maintained - their status as Superbrands?". Marketing. 20 March 2003. Retrieved 8 June 2012. 
  6. ^ "Our company information." Virgin Group. Retrieved on 14 October 2013. "The Battleship Building, 179 Harrow Road, London W2 6NB"
  7. ^ "Our company information." Virgin Group. Retrieved on 14 January 2009. "The School House 50 Brook Green London, W6 7RR England"
  8. ^ Damon Kitney (20 May 2013). "Virgin Group eyes slice of Australia's $65bn healthcare market". The Australian. Retrieved 20 May 2013. 
  9. ^ Virgin Health Bank - Stem cell storage, stem cells and cord blood banking UK

External links[edit]