Next plans to extend its online platform to host smaller brands.

As per Retail Gazette, the fashion retailer currently has a £2 billion online business and is using its advantage of logistics, customer databases and warehouses to launch a “total platform” business to become more like an Ocado for fashion rather than a high street chain.

Lord Wofson, CEO, Next said, the retailer seeks to develop a new revenue stream by using Next’s assets to provide a full service for smaller fashion brands to sell and distribute products online

At the moment, Next’s platform has only Childsplay, a designer childrenswear retailer, but it has set up a pay-as-you go model for more brands to use the service with a fixed commission.The development of the platform is similar to online grocer Ocado’s journey from an online grocery retailer into a technology business.

Next owns the UK licence for Victoria’s Secret and was a frontrunner to buy Topshop out of administration in a joint bid with Authentic Brands of the US.