Next said the intention is for its infrastructure, online systems, warehousing, distribution assets and sourcing base to serve as a launch pad for Reiss’ growth plans, both in the U.K., and internationally. It will have its own independent board of directors and continue to be headquartered in London. Reiss will retain its management autonomy and creative independence. He had worked for Reiss for nearly three decades, serving 14 years on the board as group product director. It is anticipated Reiss will go live on Next’s Total Platform in February 2022.Īngelides was appointed CEO of Reiss in 2017 and will remain in that role. Next said Total Platform will also provide warehousing and distribution services for Reiss’ retail, franchise, wholesale and concession businesses, all of which will continue to be operated by Reiss. and overseas, will be contracted to Next through Next’s Total Platform.
#David reiss linkedin njit full#
In the previous year, group sales were 4.4 billion pounds, while full year profit before tax was 729 million pounds.Īs part of the investment, Reiss’ websites and online operations, both in the U.K. Next will report financials for fiscal 2020-21 in April, and said it expects full year profit before tax to be 342 million pounds. The online platform sells Next products as well as 700 other fashion, home and beauty brands, including Reiss. and Ireland and an online presence in more than 70 countries.
distribution partner of Victoria’s Secret and Laura Ashley home, and making way for a raft of beauty brands online and offline.īased in Leicester, England, Next has 500 stores in the U.K. All parties have declined to comment on the reported sale.ĭue to Wolfson’s steady hand and meticulous oversight of the business, Next has become one of Britain’s few high-street retailers that’s managed to juggle physical with digital to great effect.Īlthough Next has been around for decades, it has also adapted nimbly with the times, becoming the U.K.
It was also said to be interested in buying Thomas Pink, although it stepped away from that sale process, too.Īccording to unconfirmed media reports, former JD Sports executive Nick Preston has acquired Pink from LVMH Moët Hennessy Louis Vuitton, along with a group of North and South American investors. Next had been mooted as a frontrunner to buy Topshop, but pulled out of the race, saying it was unable to meet the “price expectations” of the vendor. Next’s move follows a flurry of high-street acquisitions earlier this year, with Boohoo buying Debenhams and retail brands in the Arcadia portfolio, and Asos snapping up Topshop and Topman. Next’s infrastructure will ensure Reiss is not only more efficient as a business, but more effective at serving its customers directly through Reiss stores, at and through its worldwide partners.”
We are excited to see what can be achieved through the combination of Reiss’ exceptional product, marketing and brand building skills with Next’s Total Platform infrastructure.”Ĭhristos Angelides, Reiss CEO, said the new partnership will be “transformational for Reiss’ operational effectiveness. Simon Wolfson, Next’s chief executive officer, called Reiss “an outstanding brand with enormous potential and a first-class management team. A look from the Reiss spring 2021 collection.
0 kommentar(er)
