Next is reportedly plotting to make an offer for luxury department store Harvey Nichols.
The fashion giant is said to be preparing a takeover bid for Harvey Nichols to add the legendary retailer to its line-up of high street retail brands.
According to Sky News, Next is interested in acquiring Harvey Nichols at an early stage, with the auction of the department store only getting underway relatively recently.
The move would add Harvey Nichols to the Next stable of brands, which includes Russell & Bromley, Joules and Cath Kidston among many other famous British names.
The report said sources close to Next claim that it intends to have “a serious look” at the department store, but it was unclear whether the retailer would continue operating Harvey Nichols’ regional stores in the UK, similarly to how its buyouts have played out in the past.
Frasers Group has also been part of the conversation to buy Harvey Nichols’ regional stores, but it is not currently thought to be part of the sale process.
It was reported last month that Harvey Nichols had appointed FTI Consulting to advise on a sale.
According to Sky News, Next and Harvey Nichols declined to comment.
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