Richard Branson’s Virgin Group has existed for more than 45 years, and like all businesses, his has endured tough economic conditions over that span. But Branson’s, it’s safe to say, has weathered those conditions better than most. In a conversation with CME Group executive chairman Terry Duffy at the Global Financial Leadership Conference, Branson described some of his companies successes recently despite the global economic crisis:
“In the last three or four years, when things have been tough in Europe and in America, we’ve been opening mobile phone companies throughout South America, the region around Russia, the far east and expanding our businesses on a global basis.”
He credits the success to diversifying his business and constantly seeking out new opportunities. He admitted that had he not moved beyond record stores where his business began, he might not be in business today. Virgin Group now includes mobile devices and an airline among many other ventures. His latest is Virgin Galactic, aimed at making space travel available to consumers.