Virgin Group's date of incorporation is listed as 1989 byCompanies House, who class it as aholding company; however, Virgin's business and trading activities date back to the 1970s. The net worth of Virgin Group was estimated at £3 billion as of early 2023.[2]
The name "Virgin" arose in 1970 whenRichard Branson andNik Powell formed arecord shop, first as mail order and in 1971 with a physical store.[3] They considered themselvesvirgins in business.[4] Branson has described the "V" in the logo as an expressivetick, representing the Virgin seal of approval.[4]
The original logo from 1973 was a completely different design intended to be used for the record company that was founded by Richard Branson and Nik Powell. The logo was designed by British science-fiction artist and designerRoger Dean. According to Richard Branson in interviews and on the Virgin website, the more recent signature logo, introduced in 1978, was based on one that designer Ray Kyte scribbled on a napkin after a design meeting.[5][6]
Virgin Group has its headquarters in Whitfield Studios inSoho, a district of theCity of Westminster. The group moved to this location in November 2024; the space is renowned for its music history as a creative hub for musical legends such as the Rolling Stones, Madonna, Spice Girls & Amy Winehouse.
Whitfield Studios also houses the head offices for other Virgin Group owned companies, such as Virgin Red, Virgin Unite, Virgin StartUp, Virgin Limited Edition & Big Change.
In mid-May 2013, the Virgin Group expressed its intention to seek out opportunities in Australia'shealthcare industry to consolidate on the Group's Australian fitness centres. The Group also runs over 100National Health Service (NHS) services in the United Kingdom and the healthcare division of medical services group Assura after entering the British healthcare industry in 2011.[9]
Virgin Group announced the establishment ofVirgin Voyages on 4 December 2014 with financial backing fromBain Capital. The cruise line would be led by CEOTom McAlpin, would have two new large ships built and be based in the Miami/Fort Lauderdale area.[10][11]
Virgin StartUp is the Virgin Group's non-profit company, helping entrepreneurs across the UK to start, fund and scale their business. In 2013, Branson visited Boxpark in Shoreditch, London, to launch the new organisation, revealing that he wanted to support anyone that had the same dreams and ambitions that he did as a young boy: “It was £300 from my mum that sparked the Virgin adventure 40 years ago. Today, young people need that same help and I believe Virgin StartUp will provide it – with access to early capital, strong mentorship, advice and promotion.”[12]
The organisation became a delivery partner for the UK Government's Start Up Loans Company,[13] providing loan finance of between £500 and £25,000, advice, and mentoring to thousands of start-ups across the country. In 2016, it was awarded European Regional Development Funding[14] and subsequently launched Ready, Steady, Grow with Virgin StartUp, a programme of support aimed at start-ups that were ready to grow. A year later, it launched the UK's first equity-based crowdfunding accelerator programme, Crowdboost.[15]
By 2018, the organisation had supported over 11,000 UK-based entrepreneurs, with over £35m in pre-seed funding.[citation needed]
In 2014, Branson and Virgin StartUp launched the "Foodpreneur" food and drink focused start-up competition. Winners received mentorship from Branson, legal support, and brand counseling.[16] The 2014 winners included Proper Beans, Killer Tomato, Sweetpea Pantry, and Sweet Virtues.
In 2015, winners were given the opportunity to pitchTarget Corporation buyers in the US. The 2015 winners included Pip & Nut, Double Dutch Drinks, Harry Bromptons, Cauli Rice, and Mallow and Marsh.[17]
Only one start-up was announced winner of the 2017 Foodpreneur prize,The Snaffling Pig Co., who won a six-week rental space at Intu Lakeside, the retail center with the highest foot traffic in the U.K.[18]
Virgin Limobike: Virgin Atlantic announced they will cut complimentary ground transfers for Upper Class passengers in February 2020 - Virgin Limobike has since rebranded to ‘Limobike’[27]
Virgin Limousines: a formerlimousine service that operated mostly in the US and Canada. It operated for 14 years, until November 2010.
The group's health business received significant media coverage over its legal battle with NHS groups. It suedclinical commissioning groups (CCGs) in Surrey after it lost out on an £82 million contract to provide children's health services across the country. The NHS bodies settled out of court with a £328,000 payout to Virgin Care, resulting in some controversy. More than 100,000 people backed a petition calling on the company to stop "dragging the NHS through the courts".[31][32]
^Ski - Feb 1986Page 16Archived 4 April 2019 at theWayback Machine "The program, called "Virgin Snow." is available in seven resorts this season, including Zermatt, Verbier, Val dTsere and St. Anton."
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£16.6 billion (2019)
