Next Engages in Talks for Potential Investment or Acquisition of Russell & Bromley
Next, a high-street fashion retailer with a market capitalization of £16.6 billion, is currently in discussions with advisers representing Russell & Bromley regarding a possible investment or acquisition. Several suitors are reportedly interested in the deal.
Russell & Bromley, a family-owned shoe retailer established in 1880, operates 37 stores and employs over 450 people. The company’s first store was opened in Eastbourne, and it is currently run by Andrew Bromley, the fifth generation of the family. In October, Bromley mentioned the company is advancing a 'Re Boot' plan aimed at taking Russell & Bromley into its next phase.
Interpath has been engaged by Russell & Bromley to explore financing options amid ongoing discussions. These negotiations are occurring during the peak Christmas trading season against a backdrop of concerns about consumer confidence and a gradually weakening economy.
Next’s history includes acquisitions of brands such as Cath Kidston, Joules, and Seraphine. It also owns Made.com and FatFace. The company’s Total Platform supports cross-brand logistics, e-commerce, and digital services and includes partnerships with Victoria's Secret and Gap.
It remains unclear whether the potential deal with Russell & Bromley would involve a full acquisition or a minority investment. Neither Next, Russell & Bromley, nor Interpath have provided public comments on the matter.
