Bell gets fresh Virgin blood, takes bite out of youth segment

Bell Canada has revealed a new retail strategy targeting the youth market following the conclusion yesterday of two previously announced acquisitions, the CAD135 million (USD117 million) purchase of retail chain The Source and the 50% that it did not already own of MVNO Virgin Mobile Canada, costing CAD142 million. The Source (including La Source in Quebec) will exclusively offer Bell and Virgin Mobile wireless products from January 2010, getting rid of ranges from other operators such as Shaw. The incoming president of Virgin Mobile Canada, Robert Blumenthal, whose appointment was also announced yesterday, said that ‘Virgin Mobile’s youth-oriented brand fits very well with The Source’s focus on young and tech-savvy consumers.’ Bell previously gained the long-term rights to the Virgin brand, which is likely to supersede the group’s existing wholly owned ‘virtual’ mobile brand, Solo.