Next could be in running to take over major fashion brand
Next is said to be looking into taking over a fashion brand.The chain, which has around 500 stores in the UK and Ireland, is reportedly interested in shoe retailer Russell & Bromley.According to Sky News, Next has teamed up with Retail Realisation, which is described as a specialist retail advisory firm, on its interest in the 145-year-old shoe brand.The outlet alleged industry sources have said the team-up between the two groups underline Next's interest in Russell & Bromley's brand rather than its store estate or stock.READ MORE: Martin Lewis issues warning over 'scandal' impacting 5 millionIt is believed the reported proposal by Next is one of numerous offers thought to be being considered by Interpath, which is issuing advice to Russell & Bromley.According to the publication, Next is also said to be looking into a potential deal for prestigious brand, LK Bennett, who recently filed a notice of intention to appoint administrators.Russell & Bromley trades from 37 stores and has more than 450 employees. The brand was first launched in 1880 when the shoe shop opened for the first time in Eastbourne.Russell & Bromley is now operated by Andrew Bromley, who is the fifth generation of Bromley to run the firm.If Next successfully takes over the brand, it would be one of the latest in a set of businesses that have been acquired by the fashion giant.READ MORE: Starbucks announces UK launch of viral product US customers camped outside forIn a statement in October, Mr Bromley said: "We are currently exploring opportunities to help take Russell & Bromley into the next phase of our 'Re Boot' vision."Since the announcement of the ‘Re Boot’ earlier this year we have made significant progress, positioning us well to build on our momentum and continue along our journey."We are looking forward to working with our advisory team to secure the necessary investment to accelerate our expansion plans."We are now on WhatsApp. Join our dedicated community here.
