The spokesperson did tell GlobeSt.com that the stores arelocated in Phoenix; Anaheim, CA; Hollywood; Los Angeles; Ontario,CA; San Francisco; Denver; Orlando; Grapevine, TX; and two storesin New York City in the Times Square and Union Square areas. "Theacquisition of Virgin Megastores North America is a tremendousopportunity for Related to provide strategic value and exemplifiesRelated's investment strategy," notes Related Cos. president JeffT. Blau.
Blau adds that "Virgin Megastores is a well-managed premierretail brand of top-tier entertainment lifestyle stores. Theirevidenced commitment to progressive business strategies and servicemakes them an ideal partner. We look forward to leveraging theresources and synergies between our two great brands."
Sir Richard Branson, founder and chairman of the Virgin Group,says "Virgin Megastores in the US has enjoyed a brilliant twodecades as a music and lifestyle retailer, and I am so proud ofwhat we've been able to offer consumers. With most of our globalretail operations now franchised, Virgin Group will continue tofocus on being a global leader in transportation and renewableenergy, with interests in financial services, communications andmedia, health and leisure."
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