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.
Next boss Lord Wolfson has warned that thousands of traditional retail jobs have become “unviable” in the wake of the coronavirus crisis.
Ted Baker has entered a licensing agreement to release its lingerie and nightwear collections in partnership with Next.
Despite the troubles plaguing the fashion sector during the coronavirus pandemic, Next boss Lord Wolfson remains surprisingly upbeat about the future of the business. Retail Week finds out why.
Fashion giant Next has increased its full-year profit guidance as it navigates the disruption caused by the Covid pandemic.
Next has reportedly sealed a deal to snap up a majority stake in Victoria’s Secret’s struggling UK business.
Advertisement
