The Virgin Group is to invest £150 million in an internet portal that is to be home for all Virgin-branded goods and services and has appointed digital consultancy iXL as a development partner.
iXL will be responsible for researching, developing and building the virgin.com portal. The launch of the portal is intended to bring the 100 diverse businesses within the Virgin Group online by the end of the year.
The Virgin Group's investment is designed to capitalise on awareness of the portal in the UK first of all before rolling it out to Europe and the United States.
Sir Richard Branson, chairman, Virgin Group, commented: "By building on one of the world's most trusted brands, we intend to make Virgin.com one of the top three global internet mega-portals and we are investing to do so."