Article: Virgin's cosmetics lose GBP 10m

TYCOON Richard Branson's clothing and cosmetics venture Virgin Vie - launched in a blaze of publicity last October - today reported losses of nearly GBP 10 million.

But parent company Victory Corporation, in which Virgin has a 52 per cent stake, said it was still on course to launch Virgin Clothing this August.

That will be backed by a GBP 4m advertising campaign, the company said, and expansion overseas is also planned. Chairman Ian Pluthero said Virgin Vie had made a "solid start". "In ...

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