Thu, 11 Mar 2021 | BUSINESS SALE
Next Plc has announced that it has purchased a 25 per cent stake in high street fashion chain Reiss, in a deal said to be worth around £200 million.
The brand has also revealed that it plans to invest £33 million into Reiss once the current investment has been cleared and will spend an additional £10 million to help the struggling chain clear debts and expand.
Reiss is known for offering a designer take on more traditional high street brands and is a favourite among celebrities and royalty. This reputation has seen the label deliver strong sales growth in recent years, despite the increasing pressure facing high street stores.
According to Next chief executive Simon Wolfson, this growth was one of the main reasons for striking the deal with the brand, offering "huge potential" for investors. He added that he hopes the infrastructure capabilities at Next will provide Reiss with a much-needed "launch pad" for growth in the UK and overseas.
"Reiss is an outstanding brand with enormous potential and a first-class management team," he said. "We are excited to see what can be achieved through the combination of Reiss’s exceptional product, marketing and brand building skills with Next’s Total Platform infrastructure."
The partnership is the latest in a series of high street acquisitions, one of which saw Next become a franchise partner for the UK branch of Victoria's Secret.
Based in Leicestershire, the brand's drive to invest is a reflection of its recent success, with strong online sales during the COVID-19 pandemic and quick implementation of strategic plans at the beginning of the first lockdown.
Find businesses for sale here.
If you are looking for an exit, we can help!
Supplies new and used motor vehicles, stocking an extensive range of cars to suit the budget requirements of a broad customer demographic. Regularly stocks a variety of prestigious brands, including Audi, BMW, Ford, Jaguar, Mercedes, Peugeot and Niss...
LEASEHOLD
An opportunity to acquire this fantastic garden centre set in approximately 1.25 acres which was established in 1977 and boasts an enviable reputation within the area. The owners are now seeking to take a well-earned retirement. Potential for younger...
FREEHOLD
The business benefits from a glowing online reputation, having been established for over 30 years, there is a significant amount of goodwill attached, with returning customers from within the town, and further afield. As well as a physical presence,...
LEASEHOLD
|
30
|
|
Sep
|
Administrators seek buyer for pie maker’s manufacturing sites and other assets | ADMINISTRATION
Administrators from FRP are seeking a buyer for a longstandi...
|
29
|
|
Sep
|
Wetherspoons to sell 32 pubs as costs rise | COMMERCIAL PROPERTY
Pub chain JD Wetherspoon has announced that it will sell 32 ...
|
28
|
|
Sep
|
Assets to be sold after collapse of black plastics recycling firm | ADMINISTRATION
Administrators are seeking to sell the assets and intellectu...
Sign up to receive our acquisition alert emails to get your FREE guide
|
15
|
|
Sep
|
Next agrees joint venture with Victoria’s Secret | BUSINESS SALE
Fashion retailer Next has agreed a joint venture deal for th...
|
03
|
|
Jul
|
Next completes sale and leaseback of head office and warehouses | COMMERCIAL PROPERTY
High street fashion retailer Next Plc has confirmed the succ...
|
02
|
|
Apr
|
Next puts headquarters and three warehouses up for sale | COMMERCIAL PROPERTY
Fashion retailer Next has put its head office and three ware...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources