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International Entertainment News

Wednesday, June 01, 2005

Virgin Megastore Makeover Revolution Kicks Off This June

Virgin Megastore Makeover Revolution Kicks Off This June

Virgin Megastore Times Square to Be New Prototype of Future Retail Concept

NEW YORK CITY, June 1 /PRNewswire/ -- Virgin Entertainment Group, North America, the world's premiere music and entertainment retailer, is pleased to announce it will begin renovation work in late June 2005 on the brand's East Coast flagship, the Virgin Megastore in Time Square, to create the most progressive music entertainment store in the U.S. While many other music retailers have closed their doors and are battling to stay alive, Virgin has shown its complete commitment to the future of music and entertainment retailing by investing in the development of its unique retail concept.

The brand plans to spice up entertainment retail by developing an evolutionary environment which it will launch in late summer 2005 at the world's premier music destination, Virgin Megastore, Times Square. While the store will continue to carry the extensive music, film and book product selection for which it has developed a world-wide reputation, it will also now offer a greatly extended assortment of cutting edge portable electronics, apparel and accessories. Customers will be able to browse the hottest products from each category at a single location on the main floor, as well as in each department. Virgin will also introduce new ways to try more music, DVD, electronics and apparel items before purchase. Full details will be announced shortly.

The inspiration for the refurbishment came from Virgin founder and CEO, Richard Branson's original vision for the brand.

"Virgin's first record shop had to incorporate all aspects of how music would fit into people's lives," explains Virgin's founder and CEO, Richard Branson. "In exploring how to do this, I think we created the conceptual framework of what Virgin later became. We wanted the Virgin Records shop to be an enjoyable place to go at a time when record buyers were given short shrift."

Virgin believes that Branson's original philosophy prevails in this day and age, and that it's even more appropriate today than it was back in the early 1970's. Richard Branson launched his first U.S. Virgin Megastore in Times Square over 12 years ago. Since then, over 50 million shoppers have walked through the doors at Virgin Megastore, Times Square. As the chain's largest retail store at over 63,000 square feet, Virgin has been waiting for the perfect time to expand and improve the company's retail offer.

"We've seen a major shift in the music industry in the last four years," states Simon Wright, CEO, Virgin Entertainment Group U.S. "As a result, most entertainment retailers are not catering to today's consumers. They simply offer basic products with no additional added value. We want to make the experience of shopping for music and entertainment exciting once again. Music is the glue that has always held Virgin Megastore together and that will remain the same. However, we are going beyond to give the next 50 million customers who walk through our Times Square Megastore a hands-on, customized and emotional shopping experience in which they will find the best of what's hot in the world of popular culture and entertainment. We believe we are the first to offer this kind of shopping destination."

While the Virgin Megastore in Times Square will be open as usual during construction, Virgin plans to complete the revolutionized new store concept by September. The Virgin Megastore, Times Square, refurbishment announcement comes shortly after the news that the brand will be opening a new West Coast flagship in Hollywood, California later in the year.

About Virgin Entertainment Group

Virgin Entertainment Group is the world's leading multi-channel music and entertainment retailer, providing customers with a range of superior entertainment experiences through a family of integrated Virgin-branded businesses. The "category killer" Virgin Megastores and Virgin Megastore Online at www.virginmega.com are integral parts of a strategy to provide entertainment customers with what they want, how they want it, and when they want it. For more information, or to check out the location of the nearest Virgin retail, go to www.virginmegamagazine.com

Source: Virgin Entertainment Group

CONTACT: Krysty O'Quinn of SJ Communications, +1-818-881-3889, Krysty@sjcommunications.com, for Virgin Megastore; or Lori Levin +1-609-897-7865, VirginLori@aol.com, for Richard Branson

Web site: http://www.virginmegamagazine.com/

Web site: http://www.virginmega.com/

------- Profile: Ent

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