Virgin Group

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Virgin Group

logo
legal form Ltd.
founding 1970
Seat London , UK
management Richard Branson , Chairman
Stephen Murphy, CEO
Number of employees approx. 50,000
sales $ 21.3 billion
Branch Mixed company
Website virgin.com

The Virgin Group is a British conglomerate founded by Richard Branson . The Virgin Group comprises sub-companies in very different areas, for example in the music business , mobile communications , and aviation .

history

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In 1970 Richard Branson founded the first company to be called Virgin . It was primarily specialized in shipping records and later also ran record stores. In 1972, Virgin Records was founded with a recording studio in Oxfordshire . In 1973 Mike Oldfield's first album ( Tubular Bells ) was released on Virgin Records and eventually sold more than five million copies. This financial success was the cornerstone for all of Branson's further business activities. He founded other companies, all of which operate under the Virgin label.

The founding of his airline, Virgin Atlantic Airways , put the Virgin group in financial distress in the early 1990s. As a result, Branson had to sell Virgin Records , which in the meantime had risen to one of the "Top Six" in the music industry, together with the associated recording studios for one billion US dollars in EMI records. Four years later he got back into the music business with V2 Records in 1996 , but sold the company again in 2006.

In the spring of 1993, Virgin Radio began its program with a live announcement from Branson. The Virgin Group's total sales in 2002 were £ 4 billion .

In 2006, he sold Virgin Mobile for £ 690 million ($ 1.3 billion). In February 2007, he announced that Virgin and the British company Game Domain International would publish a 3D game world called A World Of My Own , which would revolutionize the PC game market. However, this was never implemented.

In early February 2008, Branson made an offer for the ailing British Northern Rock bank. In the 2009 Formula 1 season , the Virgin Group was a sponsor of the Brawn GP Formula 1 team . In the 2010 season , Virgin started under its own name with the Virgin Racing team thanks to an extensive sponsorship agreement with the British racing team Manor Grand Prix .

Virgin has been investing in Hyperloop One since 2017 , which was subsequently renamed Virgin Hyperloop One. The US company is working on the development and implementation of the Hyperloop concept (high-speed transport).

Group structure

Virgin Group companies

Airlines

Other industries

Former Virgin Group companies

Web links

Individual evidence

  1. ↑ Tussle about Northern Rock: Branson offers with - Article on n-tv , February 4, 2008
  2. ↑ Manor GP set to be rebranded as Virgin Racing - article on BBC Sport , November 30, 2009
  3. ↑ heise online: Virgin invests in Hyperloop One and gets space in the name. Retrieved December 5, 2018 .