Next is reportedly in discussions to acquire the shoe retailer Russell & Bromley as part of its expanding portfolio. This would be their latest purchase.
The fashion powerhouse, which rescued maternity brand Seraphine from administration in July, is engaging with advisors to the footwear specialist, as reported by Sky News. The retailer aims to draw in investors.
Several other prospective investors are also in the mix for Russell & Bromley, but their identities have not yet been revealed, according to city sources.
This comes after the footwear chain confirmed it has engaged advisory firm Interpath to explore funding options.
It remains uncertain whether a potential agreement would see Next acquire Russell & Bromley’s brand entirely or simply invest in the business.
In a statement released in October, Russell & Bromley’s CEO Andrew Bromley mentioned: “We are currently exploring opportunities to help take Russell & Bromley into the next phase of our ‘Re Boot’ vision.
“Since launching the ‘Re Boot’ initiative earlier this year, we have made considerable strides, placing us in a good position to enhance our growth and maintain our momentum.
“We look forward to collaborating with our advisory team to secure the necessary investments that will help us accelerate our expansion plans.”
