HMV Has Big Plans to Expand Internationally. Thanks, Canada.

HMV, once left for dead by some, is doing just fine, thank you. In fact, the company is not only thriving but expanding.

The story thus far: When HMV’s parent in the UK ran into financial trouble, it spun off its Canadian operations to a company called Hilco Capital. They have two divisions: the first winds down companies for liquidation and death; the other is a recovery operation. In the case of HMV Canada, Hilco put the company on the “recovery” track. Inventory was expanded, under-performing stores were closed and other changes were made.

It worked. HMV Canada is now profitable. The plan worked so well that Hilco bought the remaining HMV assets in the UK and beyond (which were totally bankrupt by this time) and implemented the Canadian strategy. That worked, too. HMV UK is back to being the biggest music seller in Britain, blowing past even Amazon.

The company hopes to open 14 more stores before Christmas as well as put more resources into its website which has more than a million active users so far. That’s just in the UK. HMV will see new stores open in Korea and Dubai. More international expansion is planned.

And to think this international business success started with an experiment in Canada. Cool, eh?

Read more on HMV’s turnaround at The Telegraph.

 

Alan Cross

is an internationally known broadcaster, interviewer, writer, consultant, blogger and speaker. In his 30+ years in the music business, Alan has interviewed the biggest names in rock, from David Bowie and U2 to Pearl Jam and the Foo Fighters. He’s also known as a musicologist and documentarian through programs like The Ongoing History of New Music.

2 thoughts on “HMV Has Big Plans to Expand Internationally. Thanks, Canada.

  • October 5, 2015 at 10:21 am
    Permalink

    Absolutely!!!
    …..And why not???
    Its a good marketing strategy,they have diversified their selection in the stores,not only selling CDs and DVD,s but a massive plethora of Swag.Oh and Books!!! Even their bargain bin stuff
    has some awesome Jems.

    Reply
    • November 16, 2015 at 4:02 pm
      Permalink

      Here’s hoping Hilco buys Trans World Entertainment and make the FYE/Suncoast/Sam Goody stores much more profitable than now

      Reply

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