NEXT’s takeover of Russell & Bromley could see it disappear from high street
NEXT is continuing its pursuit of premium footwear retailer Russell & Bromley and is working with stock clearance specialist Retail Realisation on an offer for the business, according to Sky News.
However, it is believed that NEXT is only looking to acquire the brand and intellectual property, with Retail Realisation overseeing the closure of Russell & Bromley’s remaining 37 stores and the selling-off of existing stock – with 450 jobs at risk.
Russell & Bromley was born from the marriage of Elizabeth Russell and George Bromley, both from shoemaking families, and was founded in Eastbourne in 1880. It is now run by Andrew Bromley, the fifth generation of his family to head up the retailer.
In recent years, the brand has been working to modernise its positioning and appeal to a younger customer, appointing Daniel Beadsworth-Shaw as its first Creative Director as well as actress and singer Billie Piper as the face of the brand.
In autumn 2025, Russell & Bromley appointed Interpath to advise on raising new capital amid efforts to accelerate its five-year turnaround strategy, known internally as ‘Re Boot’.
In recent years, NEXT has acquired brands including FatFace, Joules, Cath Kidston and Seraphine, and the high street giant is also currently considering a cut-price move for LK Bennett as the struggling womenswear and footwear brand prepares to call in administrators.
In a similar vein to Russell & Bromley, NEXT is thought to be assessing a deal focused on LK Bennett’s brand and intellectual property, rather than its small remaining store estate.
Last week, NEXT reported better than expected sales over the festive period, spanning the nine weeks to 27 December 2025, with full-price sales increasing by 10.6% year-on-year, exceeding its previous fourth-quarter guidance of 7%.
The outperformance, along with its additional sales forecast for January, has led NEXT to increase its full-year profit before tax guidance by £15 million to £1.15 billion.
