The curtain rises on the latest phase of HMV’s reinvention today, with the opening of its first cinema in partnership with Curzon.
The venue is above the shop in Wimbledon, London, allowing the conversion of non-trading space to revenue generation and furthering HMV’s objective to be an all-round entertainment player.
The venture is a test but, judging from a preview earlier this week, the augurs are good. The cinema has an upmarket, club-like feel and will show a mixture of blockbusters and art-house films. There’s an Odeon right next door, so it should quickly become clear whether the idea is a runner.
Not so long ago, the retailer was called HMV Media. Although that moniker was dropped, it’s perhaps an appropriate way of viewing the direction in which HMV chief executive Simon Fox has been taking the business.
Stores remain central but, in the digital era, are no longer the exclusive way of distributing entertainment products. HMV has been ramping up its online offer and pushing into wider entertainment categories, such as computer games. Cinemas and venues could complement the established retail business well.
One of the cinema’s opening night films is The Fantastic Mr Fox. HMV’s share price has been out of fashion of late, but Fox’s strategy is surely taking the business in the right direction.
Remembering Keith Wills
The funeral of Keith Wills was held on Tuesday, when many of his retail analyst peers and City colleagues joined his family to pay tribute to a fondly remembered friend and top analyst.
Keith was a great friend of Retail Week. His regular columns were always a source of sharp insight, and retailers will remember him for his depth of industry knowledge, keen intelligence and integrity.
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