NEXT's third-party strategy continues to gain momentum
NEXT has continued to gain momentum with its third-party brands strategy, including a roll-out of GAP shop-in-shop concessions and financial investment in other businesses.
Gap confirmed it had completed the integration of its UK online business into the NEXT Total platform this week and revealed that its next tranche of shop-in-shop concessions within branches of NEXT will open in Manchester, Birmingham and Lakeside.
Customers using Gap.co.uk will be now able to access the brand's full product assortment and benefit from a range of services, powered by NEXT, such as a click and collect service, free returns to NEXT's 450 stores, next-day home delivery and free next-day delivery to NEXT stores.
Earlier this year, NEXT acquired a 25% equity stake in Reiss, valued at approximately £200 million, as part of a new long-term, strategic partnership. The company confirmed it had the option to acquire an additional 26% on pre-agreed terms, which would bring its total holding to 51%.
NEXT confirmed to TheIndustry.fashion that the option to increase its stake was exercised in April 2022, with Reiss continuing to be led by CEO Christos Angelides and his creative team.
In February 2022, Reiss unveiled an enhanced e-commerce site, featuring a range of customer service upgrades from extended cut-offs for next day deliveries to instant in-store refunds for online orders, following its transition to the NEXT Total platform.
Most recently, Joules announced it is in talks to sell a stake to the high street giant in a move that could raise around £15 million.
Joules confirmed today that it continues positive discussions with NEXT about adopting its total platform services to support its long-term growth plans and a potential equity investment.
