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Athleta launches in the UK via joint venture with Next

US premium sports and activewear brand Athleta, acquired by Gap in 2008, has officially entered the UK market via Gap Inc’s joint venture with Next PLC. The move expands the Gap partnership, which has seen the apparel brand reintroduced to the British high street with shop-in-shops in Next stores across the UK, as well as the arrival of Banana...

9 Mar 2023

People

Next taps new executive director

High street retailer Next has named Jeremy Stakol as a new executive director, effective April 3. He will take on the role of group investments, acquisitions, and third-party brands director. Stakol was appointed as managing director of fashion and cosmetic retailer Lipsy in 2004, and following its acquisition in 2008 held the same position at...

8 Feb 2023

BusinessFeatured

H&M, Zara and Gap among brands found to be unfairly treating Bangladesh suppliers

A new report by Transform Trade has found a number of major high street fashion retailers to be paying and treating their Bangladeshi suppliers “unfairly”. The likes of H&M, Gap, Next, Primark and Zara are among the brands named for paying factories below the cost of production. Entitled ‘Impact of Global Clothing Retailers’ Unfair Practices on...

9 Jan 2023

Business

Made.com board to liquidate business following Next acquisition

Furniture e-tailer Made.com has announced that its board has proposed a formal winding down of the business through a member’s voluntary liquidation. In a regulatory filing, the company said that the proposal represents the best and “most cost effective” option to protect and realise any shareholder value. As part of the decision, appointed...

22 Dec 2022

Business

TFG said to be protesting Next’s acquisition of Joules

The Foschini Group (TFG), a South African retail conglomerate that was in the line up of Joules bidders, has reportedly filed a complaint after it missed out on snapping up the troubled British brand. According to Sky News, the group, which operates the likes of Phase Eight and Hobbs, has written to Joules’ administrators Interpath Advisory...

15 Dec 2022

BusinessFeatured

Next acquires majority stake in Joules for 34 million pounds

British clothing retailer Next has acquired a majority stake in struggling heritage brand Joules through a newly formed company for 34 million pounds in cash. In a regulatory filing, Next said it has partnered with Joules’ founder Tom Joule to acquire the company out of administration. The company has already acquired the current Joules head...

1 Dec 2022

Fashion Featured

Gap Inc confirms Banana Republic is returning to the UK

Gap Inc. confirms that Banana Republic and Athleta will start selling within the UK and Ireland again through its joint venture with Next announced in September 2021, where Next owns 51 percent and Gap owns 49 percent. The move builds on the success of the Gap partnership, which has seen the apparel brand reintroduced to the British high street...

21 Nov 2022

Business

Next strikes sportswear deal with Fanatics

Next has established a new long-term connected inventory partnership with licensed sports merchandise company Fanatics, which is set to “significantly broaden” the British retailer’s officially-licensed sport merchandise assortment. The partnership marks Fanatics first deal with a major retailer in Europe, giving the region access to its...

18 Nov 2022

Retail

Next continues to add Gap shop-in-shops

Next has opened its fifth Gap shop-in-shops in Glasgow’s Braehead shopping centre, adding to its stores in London, Birmingham and Manchester. The 1,314 square foot Gap shop-in-shop at Braehead opened on November 10 and is located on the upper level of the shopping centre within the Next store and has its own dedicated entrance. The concession...

14 Nov 2022

Business

Brexit-supporting Next boss calls for more foreign workers in UK

The chief executive of high street giant Next has urged the government to accept more foreign workers to help solve labour shortages. Simon Wolfson, who was a strong advocate of the UK leaving the EU, said the government’s current immigration policy was preventing much-needed overseas workers from entering the UK. “We have got people queuing up...

11 Nov 2022

BusinessFeatured

Next buys Made.com after brand collapses into administration

Furniture e-tailer Made.com has sold its brand, website, and intellectual property to Next for an undisclosed amount after entering into administration. In a statement, Made.com said its operating subsidiary MDL have appointed Zelf Hussain, Peter David Dickens and Rachael Maria Wilkinson of PricewaterhouseCoopers LLP as administrators, which...

9 Nov 2022

BusinessFeatured

Next reaffirms profit guidance as Q3 sales edge higher

British high street giant New Look has reaffirmed its full-year profit outlook after seeing its sales increase slightly more than expected in the third quarter. The company said it expects profit before tax for the year to come in at 840 million pounds, representing growth of 2.1 percent from a year earlier. Based on that guidance, its earnings...

2 Nov 2022