The company has purchased a sizeable holding from its fellow owner, the American investment company Warburg Pincus.
It has purchased an additional 21 per cent of ownership, increasing its ownership to 72 per cent from 51 per cent and at the same time, the Reiss family’s holding will increase to 22 per cent of the business. Reiss management holds the rest of the shares.
Next has been extremely acquisitive in recent years but has been happy to share ownership of brands with founders. Its acquisition of Joules, for instance, saw it teaming up with Tom Joule to buy the brand.
The company also now controls Cath Kidston and retailer JoJo Maman Bébé and both its Next brand operation and its acquired (either owned or licensed) labels appear to be performing well. It raised its profit guidance last month.
