High street titan Next is reportedly in discussions that could lead to it taking control of the historic British footwear retailer Russell & Bromley.
Historic Brand Seeks New Investment
According to sources cited by Sky News, the clothing and homewares retailer is one of several potential suitors exploring an investment in the 145-year-old shoe chain. Russell & Bromley confirmed in October that it had appointed advisory firm Interpath to examine options for securing new financing to support its future growth.
The family-run business, which first opened its doors in Eastbourne in 1880, is currently led by fifth-generation managing director Andrew Bromley. It operates from 37 stores across the UK and employs more than 450 people.
Details of the Potential Deal Remain Unclear
It is not yet known whether any agreement would involve Next acquiring the Russell & Bromley brand outright or making a strategic investment to support its existing management. The news outlet reported that Next declined to comment on the speculation, while Russell & Bromley and Interpath could not be reached.
In a statement released in October, Mr Bromley said the company was "exploring opportunities to help take Russell & Bromley into the next phase of our 'Re Boot' vision." He added that significant progress had been made since the strategy's announcement, positioning the firm well to "accelerate our expansion plans" with the right investment.
Next's Growing Retail Portfolio
If successful, this move would mark the latest in a series of acquisitions by Next, which has aggressively expanded its brand portfolio in recent years. The FTSE 100 company has previously purchased well-known names including Cath Kidston, Joules, Seraphine, and, most recently, the clothing brand FatFace.
This potential deal highlights the ongoing consolidation within the UK retail sector, as larger groups seek to absorb established brands with loyal customer bases. The outcome of the talks will determine the future direction of one of Britain's oldest and most respected shoe retailers.
