Branson, my hero, sold his Megastores in the UK and Ireland to management. He see more opportunity in other sectors, new sectors, than the retail that he has been in for 30 years.
Sometimes, you have to move forward and keep up with the times. Branson is incredibly smart and moving forward.
Monday’s sale represents the latest development in a sector that has suffered from increased competition from cut-price retailers and falling sales in the face of rising digital downloads and pirating.
“Our most recent investments have also included renewable energy and clean technologies in line with the group’s desire to become one of the world leaders in that field along with sustainable transportation and travel,” Branson said.
AFP: Branson sells Britain’s Virgin Megastores
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