Virgin's cosmetic retail arm goes under
The cosmetics retail arm of UK multinational company, Virgin is set to go into administration next month, according to The Times newspaper. The company, Effective Cosmetics, will see the closure of the last of its ten UK stores after January 2010.
The cosmetics retail arm of UK multinational company, Virgin is set to go into administration next month, according to The Times newspaper. The company, Effective Cosmetics, will see the closure of the last of its ten UK stores after January 2010.
Formerly known as Virgin Vie, the cosmetics brand was launched by UK entrepreneur Richard Branson as part of a range of high profile launches by the Virgin brand in the 1990s. The cosmetics range was renamed Effective Cosmetics last year, however the re-branding failed to boost sales and as a result the retail stores will be closed. This follows a tumultuous year for Virgin, which saw the closure of all UK and US Virgin Megastores earlier this year.
The Virgin Vie At Home business, which saw a management buy out last year, will continue to trade as a direct sales company and through its online business.