Shop Direct will rebrand as The Very Group later this year.
Since its launch 10 years ago, Very has become Shop Direct’s largest and best-performing brand. CEO Henry Birch said the new name will reflect that.
Shop Direct will continue to run its Littlewoods fascia.
In its most recent results, for the year to 30 June, Very’s revenue increased 9.9% to £1.4bn, driving group revenue growth of 1.5% to £1.96bn. Group EBITDA grew 11% to £262.3m.
Henry Birch, group CEO at Shop Direct, said: “Rebranding Shop Direct to The Very Group will be a clear marker of the next chapter in our development. The new name will bring us in line with Very in its 10th year and step change our ability to attract the world’s best talent.
“The new identity will also help to foster an even closer emotional connection between our people and our customers, which is vital as we continue to improve our proposition and deliver the best possible shopping experience.”