Next elbows out Foschini with last-minute swoop on Joules alongside founder

Joules store

Fashion powerhouse Next has teamed up with Joules founder Tom Joule to buy the retailer, fending off competition for control from Phase Eight owner Foschini.

Next had considered investing in Joules before it collapsed into administration last month, but Foschini was thought to be the frontrunner to acquire Joules’ assets as late as this morning.

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