High street fashion and homewares retailer Next is reportedly considering a significant expansion of its portfolio with a potential takeover of the prestigious footwear brand Russell & Bromley.
Next's Strategic Interest in Heritage Brand
According to a report from Sky News, the retail giant, which operates approximately 500 stores across the UK and Ireland, has expressed interest in acquiring the 145-year-old shoe retailer. It is understood that Next has joined forces with the specialist retail advisory firm Retail Realisation to explore this opportunity.
Industry sources suggest that Next's primary focus is on the value of the Russell & Bromley brand itself, rather than its physical store estate or existing stock. This strategic move highlights a trend of major retailers seeking to absorb established, heritage names with strong customer loyalty.
Multiple Offers on the Table for Family Business
The reported proposal from Next is said to be one of several offers currently under consideration. The advisory firm Interpath is handling the process for Russell & Bromley, which was first established in 1880 with a single shop in Eastbourne.
The business remains a family affair, now operated by Andrew Bromley, the fifth generation of the Bromley family to run the firm. It trades from 37 stores and employs more than 450 people.
In a statement released in October, Andrew 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 and they were seeking investment to "accelerate our expansion plans".
Next's Growing Acquisition Portfolio
If successful, Russell & Bromley would become the latest in a series of acquisitions by Next, which has been actively expanding its brand stable in recent years. In a parallel development, Next is also said to be examining a potential deal for the troubled womenswear label LK Bennett, which recently filed a notice of intention to appoint administrators.
This potential takeover underscores the ongoing consolidation within the UK retail sector, where larger groups are leveraging their scale and infrastructure to integrate well-known but potentially vulnerable brands.
