HMV's £50m social-commerce turnaround plan

HMV’s £50m Social-Commerce Turnaround

It's not often we're treated to a bona fide good news story in retail, but Hilco's rescue buyout of HMV most definitely qualifies. First, Hilco have an excellent track record with these things and, secondly, hopefully some of HMV's amazing team will be retained to help paddle the boat back upstream. I worked at HMV for a short time and, take it from me, some of the people there are the most extraordinary, passionate and gifted folk working in retail today. We wish them the best of luck.

But - and you knew there'd be a "but", right? - if HMV wants to rise from these ashes, some pretty critical things have to change. And we're not convinced that refocusing on music and entertainment is the be-all-and-end-all solution some people are suggesting (remember: HMV was forced to trade in tech and other lifestyle items because entertainment was effectively being sold as a loss-leader by its rivals). Nor is some mad dash to catch up with old technology the answer. It's easy to say that HMV missed the boat with ecommerce and downloads, but that's not strictly true: for every Spotify, HMV had an HMV Jukebox. For every Blinkbox, it had


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