Sale of Radley to Gordon Brothers imminent

Gordon Brothers, the owner of Poundland, is close to completing its acquisition of British handbag brand Radley - possibly as early as today, according to Sky News.

Radley is looking to sell its brand and other intellectual property assets as part of a pre-pack administration deal, and has lined up the restructuring firm FTI Consulting as administrators, city sources told the publication.

The sources added that existing retail operations were unlikely to be part of the deal, meaning a loss of jobs is likely, although the size of Radley's workforce is unclear.

Both NEXT and US-based Gordon Brothers were reportedly 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. For both parties, the acquisition of Radley marks the most recent step in an ongoing acquisition spree.

Gordon Brothers purchased upmarket British brand LK Bennett in January 2026, with the intention of transitioning it to an “asset-light model”. In 2025, it acquired value retailer Poundland, following the sale of Laura Ashley to Ben Sherman-owner Marquee Brands in January 2025.

Meanwhile, NEXT has acquired a number of high street favourites over the last few years - including FatFace, Joules, Cath Kidston and Seraphine - with a focus on brand and intellectual property rather than physical stores.

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

Radley was founded by Australian designer Lowell Harder in the late 1990s, starting with a single stall in Camden Market, London.