Next is one of the UK’s largest retailers with a domestic market share of around 10%, selling clothing, shoes, accessories and homeware. Originally founded in 1864 as menswear tailor Joseph Hepworth & Son, it eventually evolved into Next in 1982 after the purchase of womenswear retailer Kendall and Sons in 1981. Its ecommerce website also acts as a marketplace platform for brands such as Calvin Klein, Dorothy Perkins, Warehouse and Ralph Lauren. The retailer bought Lipsy in 2008 to appeal to a younger audience. Next has taken big steps to integrate its online and offline proposition, using stores to drive click and collect, including one-hour in-store pick-up, and process ecommerce returns. Next has also partnered with Amazon to allow customers to pick up parcels from its stores – driving footfall and incremental spend. The retailer operates around 500 stores domestically and around 200 in 32 other countries.
The barrister running an independent review into Boohoo’s Leicester supply chain, Alison Levitt QC, has made a public call for evidence.
Amid a slew of strategic shifts focused on online growth and store closures, it was refreshing to have some timely reminders of the power of bricks and mortar this week.
Fashion giant Next’s latest update showed “a much better position than anticipated three months ago”. These graphs eloquently tell the story of how performance has played out and the impact of store reopenings.
Next has suffered a drop in full-price sales during its second quarter, as the business struggles to tempt shoppers back to stores.
Fashion giant Next has agreed an outline deal to snap up the Victoria’s Secret business in the UK.
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