Online retailer Shop Direct rebrands to The Very Group

Online British retailer Shop Direct has today rebranded to The Very Group, a move the company says “reflects the next phase of the business’ ongoing transformation”, and one that brings its name and identity in line with its flagship consumer brand, Very.

The company also said it will launch a recruitment drive over the next two years which will include 150 roles across data and technology and hundreds more at the company’s new East Midlands fulfilment centre which will be operational this year and will employ approximately 800 people during peak periods.

The Very Group has annual revenues of 2 billion pounds and serves over four million customers, while Very, which celebrates its 10-year anniversary, is now reportedly worth 1.5 billion pounds and counts around three million active customers.

Commenting on the rebranding in a statement, Henry Birch, group CEO at The Very Group, said: “I’m hugely proud to introduce The Very Group. This rebrand builds on over 100 years of history during which time we’ve gone from catalogues to bricks to clicks to mobile. We’ve always had a passion for reinvention and becoming The Very Group is another important part of our story.

“We want to be the number one destination for shoppers who value flexible ways to pay. We’ll achieve that by constantly improving what we do, innovating with data and technology at our core, and delivering the best experience for our customers and our colleagues.”

In November, The Very Group secured 150 million pounds in funding from its parent company, Shop Direct Holdings Limited (SDHL).

The company said at the time: “The committed funding available to our parent shareholder enables SDHL and Shop Direct to address fully the group’s funding needs from the increased final PPI provision; together with the alternative funding options being evaluated, this once again demonstrates investor support for our proven operating model.”

Photo credit: Very, Facebook