After last week’s news, found here, that entertainment giant HMV was purchasing 14 Zavvi stores, the company’s CEO, Simon Fox (pictured), looks like he wants to plug even more gaps in the market. With the vanishing act exhibited by Woolworths and the downfall of Zavvi, there is less much competition in the entertainment market. Fox, however, says that HMV are only looking to acquire “less than a handful” of stores.
Fox – taking advantage of the troubled times in the entertainment markets.
In today’s economic climate, Fox concedes that “the consumer environment is tough”, but remains positive that HMV will stay strong, giving the reason the “the things we sell are more immune”. If they continue at this rate, HMV could end up monopolizing their industry. Any thoughts on these plans? Feel free to comment.