NEXT eyes acquisition of British handbag brand Radley

NEXT is reportedly eyeing a takeover of British handbag brand Radley, just months after its acquisition of footwear brand Russell & Bromley as part of an insolvency process.

The British high street retailer is said to be in discussions with advisers to Radley’s owner, the private equity firm Freshstream, about a potential deal to acquire the brand and intellectual property assets.

This could mark the latest strategic acquisition for NEXT, following a spree of other high-street name acquisitions, such as FatFace, Joules, Cath Kidston and Seraphine, where the focus is often on brand and intellectual property rather than physical stores.

The retailer is not the only one in the race to secure Radley, as it is also reportedly in talks with the US-based Gordon Brothers, which also purchased the value retailer Poundland in 2025 and is the former owner of Laura Ashley.

Industry sources have told Sky News that a deal will likely be executed through a pre-pack administration package, although the sales process for Radley is far from complete.

It was announced in March that Radley was the subject of a strategic review. The news follows a challenging period for the brand, which has been undergoing a transformation strategy under its CEO Nick Vance for the last three years.

Radley had set out its plan to transform itself into "a modern British icon of accessible luxury" following the publication of its financial results for 2024.

"Like so many accessories brands, in 2024 we experienced a challenging global market," Radley’s CEO Nick Vance told TheIndustry.fashion in the summer of 2025, adding that its transformation plan was, however, "progressing well".

He explained that the business was targeting growth as it reset its proposition with a more contemporary handwriting, under its first-ever Design Director, Fernando Soriano Iglesias, who joined from Parfois in January 2025, bringing experience from brands including Loewe, Carolina Herrera and Calvin Klein.

In its last financials to April 2025, Radley had posted positive growth in the areas of DTC, digital and licensing sales but had taken a hit on wholesale in part due to technology challenges and its partners shifting to drop-ship or marketplace models.

In an interview in November 2025, Vance sat down with TheIndustry.fashion to share his transformation strategy for the brand in depth, explaining how he had set himself the clear goal of making "the world’s best £299 handbag". Since taking over the brand in 2024, Vance's transformation strategy had resulted in a complete repositioning, an overhaul of its distribution channels, significant investment in tech, and the appointment of Iglesias as Design Director.

TheIndustry.fashion recently sat down with Radley’s Creative Director Fernando Soriano Iglesias to discuss how he got started in the fashion industry.