Virgin Group
 | |
| Private | |
| Industry | Conglomerate |
| Founded | February 1970 |
| Founders |
Richard Branson Nik Powell |
| Headquarters | London, United Kingdom |
Area served | Global |
Key people |
Sir Richard Branson (Founder) Peter Norris (Chairman)[1] Josh Bayliss (CEO)[1] |
| Products |
Banking Books Commercial aviation Commercial spaceflight Consumer electronics Films Health care Internet Jewelry Mobile Phones Music Radio Retail Travel |
| Revenue |
 £19.5 billion (2016)[1] |
Number of employees | Approximately 71,000 |
| Website |
www |
Virgin Group Ltd. is a British multinational branded venture capital conglomerate founded by entrepreneurs Richard Branson and Nik Powell.[2] Its core business areas are travel, entertainment and lifestyle, and it also manages ventures in financial services, transport, healthcare, 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 was estimated at £5-5.5 billion as of November 2014.[3]
Name (Virgin)
The brand name "Virgin" arose when Richard Branson and Nik Powell and Dirk Prijsvraag formed a record shop. They considered themselves virgins in business.[4] Branson has described the "V" in the logo as an expressive tick, representing the Virgin seal of approval.[4]
Corporate affairs
Virgin Group has its headquarters at The Battleship Building in the Paddington district of the City of Westminster.[5] Previously it was in The School House in the London Borough of Hammersmith and Fulham.[6]
The Virgin Group of companies have a complex structure that contains elements of a generic conglomerate, a Keiretsu and sometimes simply licences its brand. Examples of licensing are Virgin Records (now owned by Universal Music Group) and Virgin Media (now owned by 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 over 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.[7]
Subsidiaries and investments
| Company | Ownership | Sector |
|---|---|---|
| V Festival | 100% | Entertainment |
| Virgin Active | 20% | Health |
| Virgin America | 25% | Travel |
| Virgin Atlantic | 51% | Travel |
| Virgin Australia Holdings | 10% | |
| Virgin Books | 10% | Publishing |
| Virgin Care | 100% | Health |
| Virgin Connect | 100% | Media |
| Virgin Experience Days | 100% | Entertainment |
| Virgin Galactic | 100% | Aerospace |
| Virgin Green Fund | 100% | Energy |
| Virgin Health Bank | 100% | Health |
| Virgin HealthMiles | 100% | Business Services |
| Virgin Holidays | 100% | Travel |
| Virgin Hotels | 100% | Hospitality |
| Virgin Limited Edition | 100% | |
| Limobike | 100% | Travel |
| Virgin Megastores | 100% | Retail |
| Virgin Mobile | 100% | Communications |
| Virgin Money | 34%[8] | Banking |
| Virgin Oceanic | Japan | |
| Virgin Racing | 100% | Entertainment |
| Virgin Radio | 100% | Entertainment |
| Virgin Rail Group | 51% | Travel |
| Virgin Sports | 1% | Sports |
| Virgin Trains East Coast | 10% | Travel |
| Virgin Unite | 100% | Charity |
| Virgin Vacations | 100% | Travel |
| Virgin Voucher | 100% | Retail |
| Virgin Voyages | 100% | Travel |
Formerly owned ventures
- Absolute Radio — formerly Virgin Radio UK, rebranded in 2008
- Air Nigeria — Nigerian national airline launched as Virgin Nigeria, shares sold in 2010
- Liquid Comics — comic book producer formerly known as Virgin Comics - sold to management in 2008
- Vie at Home — cosmetics retailer formerly known as Virgin Vie, sold to management in 2009
- Virgin Brides — retailer specialising in bridal wear
- Virgin Cars — online car retailer, ceased trading in 2005
- Virgin Charter — online marketplace of private aircraft seat bookings
- Virgin Cinemas — sold to UGC in 1999
- Virgin Digital Help — technical support
- Virgin Drinks — drink manufacturer
- Virgin Cola — carbonated cola soft drink
- Virgin Vodka — alcoholic beverage
- v-Mix — spirit mixers
- Virgin Electronics — electronics retailer
- Virgin Energy — joint venture energy provider, sold to EDF Energy
- Virgin Express — airline based in Brussels, merged with SN Brussels Airlines in 2006 to form Brussels Airlines
- V Festival — an Australian version of the V Festival
- Virgin Festival — a North American version of the V Festival
- Virgin Films — film production company
- Virgin Games — sold to Gamesys in 2013
- Virgin Interactive — closed in 2003
- Virgin Limousines — a former limousine service that operated mostly in the USA and Canada. It operated for 14 years, until November 2010.
- Virgin Media (including Virgin Mobile UK) — UK Cable TV, broadband internet and Fixed and Mobile telephony provider - bought by Liberty Global
- Virgin Mobile Australia — mobile phone service provider in Australia - shares sold to Optus in 2006
- Virgin Mobile Canada — mobile phone service provider in Canada - shares sold to Bell Mobility in 2009
- Virgin Mobile France — mobile phone service provider in France - shares sold to Numericable-SFR in 2014
- Virgin Mobile India — mobile phone service provider in India - shares sold to Tata Teleservices in 2015
- Virgin Mobile USA — mobile phone service provider in the USA - shares sold to Sprint Corporation in 2009
- Virgin Money Australia — sold to Bank of Queensland
- Virgin Money US — sold in 2010
- Virgin One account — shareholding sold to co-owner (RBS) in 2003
- Virgin Sun Airlines — scheduled and charter airline, closed in 2001
- Virgin Trains ExpressCoach — former operator of inter-city bus & coach services
- Virgin CrossCountry — former operator of the Cross Country railway franchise in the United Kingdom, services transferred to Arriva in 2007 (51%)
- Virgin EMI Records - Soundtrack label - owned by Universal Music Group
- Virgin Records — American music soundtrack label
- Virgin Racing — Formula One motor racing team
- Virginware — clothing retailer
- Virgin Wines — online wine market, sold to Direct Wines in 2005
References
- 1 2 3 "About us". Virgin.com. Retrieved 18 January 2015.
- ↑ "Virgin Group Ltd.: Private Company Information". BusinessWeek. Retrieved 2008-12-24.
- ↑ Wisniewska, Aleksandra (2014-11-05). "Timeline: The Virgin Empire". Financial Times.
- 1 2 Richard Branson. Losing My Virginity. ISBN 1-8522-7684-3.
- ↑ "Our company information." Virgin Group. Retrieved on 14 October 2013. "The Battleship Building, 179 Harrow Road, London W2 6NB"
- ↑ "Our company information." Virgin Group. Retrieved on 14 January 2009. "The School House 50 Brook Green London, W6 7RR England"
- ↑ Damon Kitney (20 May 2013). "Virgin Group eyes slice of Australia's $65bn healthcare market". The Australian. Retrieved 20 May 2013.
- ↑ Armstrong, Ashley (13 November 2014). "Virgin Money float triggers £50m payment to George Osborne's coffers". The Telegraph. Retrieved 19 May 2015.
External links
-
- Business data for Virgin Group Ltd.: Google Finance
- Hoover's
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