Richard Bransons 9 Biggest Business Failures

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INTRO

Richard Branson’s 9 Biggest Business Failures

So here are some of Richard Branson failures you probably

didn’t know about

Virgin Brides – Struggled To Compete

Virgin Cola – Most Publicised Failure

Virgin Clothing – Big Losses

Virgin Vodka – Success Isn’t Guaranteed

Virginware – All Lingerie Liquidated

Virgin Cars – Didn’t live up to promise

Virgin Vie – £21 million written off

Virgin Megastores – Open Too Long

Virgin Digital – Couldn’t Stand Up to Apple’s iPod

#1 Virgin Cola – Most Publicised Failure

Virgin Cola was probably the most highly publicised of Virgin’s failed

businesses, and also Branson’s favorite failures.

#2 Virgin Brides – Struggled To Compete

Virgin Brides was a company specialising in weddings and bridal wear and Branson launched its first store in 1996 by shaving his beard and wearing a wedding dress.Suffering losses and struggling to compete with the highly competitive bridal market, the company shut its doors.

#3 Virgin Clothing – Big Losses

Virgin Clothing was a line of men’s and women’s clothing, footwear and accessories specifically aimed at the younger 18-35 aged market.

#4 Virgin Vodka – Success Isn’t Guaranteed

Like Virgin Cola, Virgin Vodka had very little monetary and commercial success. Showing that success in one market, doesn’t guarantee success in all markets.

#5 Virginware – All Lingerie Liquidated

Virginware took its final breaths with a liquidation sale of 35,000 pairs of Virgin-branded bras and G-strings before all websites and stores disappeared from existence.

#6: Virgin Cars – Didn’t Live up to Promise

Predicted and Promoted that the company would sell 24,000 cars in its first year, however the company only managed to sell 2,000 not even 10% of forecasted sales.

#7: Virgin Vie – £21 Million Written off

The Virgin Cosmetics Company was a line of cosmetics and toiletries founded in 1997 and sold through a number of different channels.

Online

In Virgin stores

Home parties

#8: Virgin Megastores – Open Too Long

Virgin Megastores lived a long life. Opening in 1992, these stores where flagships of the Virgin brand but finally couldn’t challenge

the impact of the rising digital music market

Branson wasn’t going to sit idle with the iPod and iTunes doing so well in a market he had once dominated. The rise of Apple’s iPods and iTunes meant that Virgin’s device suddenly looked out of date before we had even launched it.

#9: Virgin Digital – Couldn’t Stand Up to Apple’s iPod

Failure is not something to fear. It’s normal and no-one is immune

to it – not even Sir Richard Branson

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