HMV keen on more Zavvi stores

HMV is in negotiations to purchase more Zavvi stores from administrator Ernst & Young.

HMV Group CEO Simon Fox has revealed that the company is in talks to purchase less than a handful” more Zavvi outlets.

The entertainment retailer bought 14 Zavvi outlets last week – which cost it 700,000 ($966,280), Fox revealed. The stores are in districts without HMV outlets, he said.

According to Bloomberg, HMV plans to build on market share gains resulting from the collapse of competitor Woolworths Plc, Fox said.

The retailer is updating its stores with download centres and staging live music performances at some outlets to make them places where young people can hang out and meet,” he said.

MCV speaks to Simon Fox exclusively about HMV’s record Christmas and plans for 2009 in tomorrow’s magazine.