Published On: Fri, Dec 5th, 2014

Virgin owner Richard Branson goes into cruise business

richard-branson-in-hamburgBillionaire Richard Branson is to team up with private investment firm Bain Capital to build two new cruise ships, which will be headquartered in the Miami-Fort Lauderdale area of the United States, the business partners said in a joint statement.

The Virgin owner is set up a holiday cruise business, the company said on Thursday, weeks after a fatal crash sent his Virgin Galactic space tourism business reeling.

“We plan to shake up the cruise industry and deliver a holiday that customers will absolutely love,” Branson said.

Virgin Group encompasses more than 400 companies in sectors as varied as trains, wines, music labels, mobile phones, airlines and banking.

In the past the company entered new markets by promoting itself as a fresh, upstart rival offering better customer service.

Virgin and Bain did not disclose when their new venture would be started.