HMV recently opened a new flagship store called HMV Vault in Birmingham’s Dale End.

When HMV opened its very first store on London’s Oxford Street in 1921, it initiated the company’s journey to selling music and film to the masses. Becoming an iconic entertainment brand both in the UK and overseas. However, the struggle to stay afloat on the UK’s high street became an evident problem in January 2013. When a period of decline saw the retailer collapse into administration. Then five years later, HMV filed for a second administration when it collapsed again a few days after Christmas 2018.

After it fell into administration, the future of HMV remained uncertain for several weeks as several suitors came forward with rescue bids. At last, the winning bid was from Canadian music retailer Sunrise Records and its owner Doug Putman. He acquired HMV for an undisclosed amount in February.

Who is Doug Putman?

In 2014, Putman acquired Canadian record store chain Sunrise Records. Then in 2017, he acquired HMV’s Canadian business. So it’s no surprise when Putman scooped up HMV in February this year. Despite CDs and DVDs being in steady decline since the rise of online retailers and streaming devices such as Spotify and Netflix, Putman appears to be capitalising on in-store customer experience initiatives and the resurgence of vinyl  in order for HMV to bear fruit. Putman is confident HMV will be “100 per cent be profitable this year, for the first time in a long time.” Photo credit: Fabio De Paola

HMV Vault

The new store HMV Vault in Birmingham stocks 100,000 LPs and CDs, 20,000 Blu-ray and over 40,000 DVD titles. It also offers a large performance area at its centre. The opening saw former One Direction star Liam Payne perform an exclusive live set at the new store for fans. Head here for more information and check out the pictures below. Photo credit: HMV

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