Littlewoods plans bank for TV shopping channel

LITTLEWOODS is planning to launch a banking operation as part of its TV home shopping channel which will start broadcasting later this year. It is in discussions with several possible joint venture partners to operate a Littlewoods Bank that will be promoted in a financial show to be screened on the channel. It will also target financial services at its database of 3.5 million home shopping customers and the 4 million people who play its football pools every week.

The plans, which will create 1,000 new jobs in Liverpool over five years, are part of a large push by Littlewoods into TV home shopping which it announced yesterday in conjunction with Granada. Littlewoods has already signed a joint venture with Arcadia, the Burton menswear and Top Shop group retailer. This will enable the channel to screen live entertainment shows from Arcadia's stores like the Top Shop branch on Oxford Circus in London to promote fashion clothing.

Littlewoods is also in discussions with a department store group, believed to be Debenhams, over a similar deal. A football programme is planned that will leverage Littlewoods' sponsorship of the FA Cup and its football pools business.

The Littlewoods-Granada TV home shopping joint venture will be structured on a 65:35 basis and will start broadcasting in the autumn. It will operate on digital terrestrial, digital satellite and digital cable systems. Orders will be taken by phone to start with but move to full interactive ordering later.