Retailer Shop Direct is to be renamed The Very Group in a move designed to bring its name and identity in line with its flagship Very online brand.

The company, which is the UK's largest integrated pureplay digital retailer and financial services provider, today (27 March) said the new corporate identity will be unveiled later this year.

It added the rebrand will support its ambition to recruit "hundreds of roles in data and technology," and at its new fulfilment centre in the East Midlands over the next two years by drawing on Very's widespread brand awareness.

The move will mark the ten-year anniversary of Very, which launched in July 2009 as a pureplay digital retailer. Today it is a GBP1.4bn (US$1.8bn) brand with 2.82m active customers and an average of 1.25m daily website visits.

"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 tenth year and step change our ability to attract the world's best talent," says Henry Birch, group CEO at Shop Direct.

"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."

The news comes a month after Shop Direct said it was considering a number of redundancies after entering a period of consultation with Usdaw, its recognised trade union.