Virgin Vie At Home, the UK’s largest party plan company, has been bought by its management for an undisclosed sum.

Virgin Vie At Home, the UK’s largest party plan company, has been bought by its management for an undisclosed sum.

Founding directors Ros Simmons and Ratan Daryani, who have worked in the cosmetics industry for a number of years, led the buy-out. Post-completion, the duo intend to focus on direct sales and have plans to expand the business internationally.

Virgin decided to dispose of the party plan business and to shift its emphasis on its core travel, telecoms, media, financial services, health and wellness business.  

“With retail sales set to continue to struggle over the next year, we will be moving away from high street sales to a comprehensive direct-to-consumer model, involving e-commerce and direct mail,” said Simmons, CEO of Virgin Vie.

Virgin Vie At Home was launched in 1996 and has more than 10,000 self-employed consultants who organise parties selling cosmetics and skincare products.  

The management team were advised by Grant Thornton and law firm Bond Pearce. According to The Mail on Sunday, Virgin Vie at Home reported pre-tax losses of £3.4 million on a turnover of £48.5 million.