Victory Corporation, the Virgin cosmetics and clothing retailer, is to expand overseas.
Victory has appointed an international director, David Bennington, to develop its direct cosmetics business overseas. He joined a few days ago, and has previously worked for Sara Lee and Avon Cosmetics.
Victory is also expanding its stores operation. It has opened four new shops in South Africa since March last year in conjunction with its country franchisee there. The Virgin Cosmetics shops, which have opened in Virgin Active Health & Fitness Clubs, will be followed by another six stores by March.
Virgin Cosmetics has also opened in the United Arab Emirates and Bahrain with a Middle Eastern partner and is considering openings in Asia.
In the UK, new shops have opened at Bluewater and Edinburgh and in Virgin Active Health & Fitness Clubs in Islington and Acton, London. Outlet stores have opened at Ashford, Cheshire Oaks, Livingston and York.
Victory has confirmed that its clothing business, Capo, which comprises 17 stores and is suffering from eroding margins, is no longer a core operation.
Gross margins at Capo fell 6 per cent in the six months to September and the retailer said it sees no evidence of the trend improving. Capo accounts for 18 per cent of group turnover.
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