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Essay heading: Richard Branson
 
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Issue: Biographies
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Date added: July 28, 2003
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No of pages / words: 16 / 4430
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He continued selling cut-outs through a record mail order business in 1970. Trading under the name "Virgin" he sold records for considerably less than the so-called "High Street" outlets, especially the chain W. H. Smith. The name 'Virgin' was a selling point because records were sold in a new condition (unlike in other shops where records were being handled when listened to in record booths)[citation needed]...
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At the time many products were sold under restrictive marketing agreements which limited discounting, despite efforts in the 1950s and 1960s to limit so-called resale price maintenance.[6] In effect Branson began the series of changes that led to large-scale discounting of recorded music. Branson and some colleagues were discussing a new name for his business when one suggested that it should be called 'Virgin' since they were all virgins to business[citation needed]...
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