Introduction to Business
Business Leader Profile
Sir Richard Charles Nicholas Branson is a British industrialist, best known for companies such as Virgin Megastores, Virgin Mobile and Virgin Airlines. Branson was educated at the Stowe School where at the age of 16, Branson had his first successful business venture, publishing a national magazine called Student. After leaving school, Branson entered the music industry. Considering that he could sell records cheaper than the existing average music store, he started a mail-order catalogue with friends. It was a success, and they opened a record discount shop. They named the business Virgin, because it was their first business venture. Virgin Records was formed in 1972. The first recording studio was built in Oxfordshire, England. Mike Oldfield recorded the very first album under the record label, and it sold over five million copies. When punk music began to emerge, Virgin signed the outrageous Sex Pistols when other record companies refused to touch them. The move turned out to be a successful venture. Artists such as The Rolling Stones, David Bowie, Lenny Kravitz and Janet Jackson are few of the over four hundred artists signed under the Virgin Records label. There are currently two Virgin Megastores in the United State, one at JFK International airport in New York and one at Boston-Logan Airport. Due to the success of Virgin Records, Branson began Virgin Airlines. Formed in 1984, it is part owned by Singapore Airlines, and it is the second largest British long haul international airline, and has won many awards for the planes style and state-of-the-art passenger entertainment, including individual touch screen televisions in front of each seat with free music, movies and T.V. programs. To keep Virgin Air, Branson sold the Virgin music label to EMI, Electric and Musical Industries, in 1992, a more conservative company which previously had annulled a contract with the Sex Pistols. Branson wept when the sale was...
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