{"id":214549,"date":"2022-08-19T14:12:17","date_gmt":"2022-08-19T13:12:17","guid":{"rendered":"https:\/\/www.theindustry.fashion\/?p=214549"},"modified":"2022-08-19T18:29:00","modified_gmt":"2022-08-19T17:29:00","slug":"next-third-party-strategy-continues-to-gain-momentum","status":"publish","type":"post","link":"https:\/\/www.theindustry.fashion\/next-third-party-strategy-continues-to-gain-momentum\/","title":{"rendered":"NEXT's third-party strategy continues to gain momentum"},"content":{"rendered":"
NEXT<\/span> 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.<\/strong><\/p>\n Gap confirmed it had completed the integration of its UK online business into the NEXT Total platform this week<\/a><\/span> and revealed that its next tranche of shop-in-shop concessions within branches of NEXT will open in Manchester, Birmingham and Lakeside.<\/p>\n 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.<\/p>\n Earlier this year, NEXT acquired a 25% equity stake in Reiss, valued at approximately \u00a3200 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%.<\/p>\n 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.<\/p>\n