ShopDirect’s launch of VeryExclusive.com is clearly a big development in itself but it has a much greater significance. It marks the first real move away from its traditional big book model that has been successfully migrated online. Until now, the business has focused on addressing a very wide market through the same vehicle, or perhaps several in the shapes of Very, Isme etc. VeryExclusive is narrow and targeted, focusing on 25-35s and carrying premium and luxury brands. ShopDirect has built a dedicated management team to drive the new venture. I expect this to be the first of many more segmented offerings from the business.