May 29, 2013 9:36
HMV expected to begin relaunch with new jobs announcement this week
The retailer is likely to launch a new website and streaming service
According to Marketing Week, the retailer will announce a new marketing team this week who will lead the rebranding of the company. HMV's original marketing team were axed in February as part of 250 head office losses.
A relaunch of the retailer is expected later this year. While no exact details have been confirmed, it is expected that a new HMV website will focus on a music and film streaming service similar to The Vault, the digital streaming platform offered by its sister company in Canada. Previously, HMV UK lost money selling CDs and DVDs from its website because of distribution and postage costs.
HMV currently owns 140 high street stores after a number were sold off in the administration process after the company was bought by Hilco – which owns HMV Canada in April in a deal thought to be worth £50 million. Some 2,643 jobs were secured in the process.
Earlier this month, it was reported that Hilco were also looking to resume HMV trading in Ireland. Until the chain went into receivership this January (2013), it was running 16 stores in Ireland, but they are all currently closed. According to reports, up to six stores in Dublin, Cork, Galway and Limerick could re-open if negotiations with landlords are successful. Landlords will apparently be offered a "realistic rent" with a standard "top-up element".
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