A clothing retailer from the UK, Next has increased its stake in Reiss to 51 per cent.

The British fashion retailer had bought a 25 per cent valuing £200 million in 2021 as a part of a long-term partnership. It had revealed plans to buy another 26 per cent at pre-agreed terms. It exercised its rights and increased its stake to 51 per cent in the company in April 2022.

Next believes Reiss can now benefit from former’s extensive infrastructure capabilities – in addition to serving as a launch pad for the latter’s growth plans in the UK and overseas.

Reiss will continue to retain management authority. The British clothing retailer generates £3,284.1 million and is also known for its footwear and home products.