Hamish Morjaria snaps up omnichannel retailer Ideal World
Shopping channel and retailer Ideal World has been sold to entrepreneur and investor Hamish Morjaria.
Morjaria purchased the company from asset management firm Aurelius Equity Opportunities for an undisclosed sum.
He has held senior leadership roles in global technology, distribution, wholesale and retail companies for the past 20 years, including more recently as Chairman at FETCH Group.
Morjaria comments: “Ideal World presents a really exciting investment opportunity. There is a talented team in place.”
“It’s multi-channel with both an online and TV channel offering. It has a loyal customer base, established infrastructure and the potential to extend content onto social media. I look forward to bringing in new brands and offers to help this much loved UK business meet its true potential.”
Ideal World TV has over 250 staff and is based in Peterborough, UK, where its broadcast facility sits alongside a distribution centre.
The home shopping channel currently broadcasts on Sky, Freeview, Freesat, Virgin and late night ITV as well as several web platforms and its own websites.
Morjaria says that he intends to work with the company’s existing management team.
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