High street titan Next is reportedly in the running to acquire the historic, family-owned shoe and bag retailer Russell & Bromley, according to a Sky News report.
Next's Pursuit of a Heritage Brand
Next is said to be working with the advisory firm Retail Realisation on a potential deal for the 145-year-old chain. Russell & Bromley, which was founded in Eastbourne in 1880 by George Bromley and Elizabeth Russell, operates 37 stores across the UK and employs more than 450 people. The business is currently run by Andrew Bromley.
This move follows Russell & Bromley's own efforts to secure its future, having previously hired Interpath Advisory to arrange new external financing as part of a five-year turnaround strategy. Sources indicate that Next is not the only fashion brand to have expressed an interest in the iconic retailer.
Next's Expanding Retail Empire
A potential acquisition of Russell & Bromley would be the latest in a series of strategic purchases by Next. In recent years, the retail group has absorbed well-known brands including Cath Kidston, Joules, Seraphine, and Made.com into its portfolio.
Next's financial firepower for such deals has been bolstered by a stronger-than-expected trading performance. The company recently increased its full-year profit outlook after reporting a 5.9% rise in UK full-price sales for the nine weeks to December 27. Overseas sales saw a dramatic surge of 38.3%.
It now expects pre-tax profits to reach approximately £1.15 billion for the year to the end of January, a 13.7% increase, on the back of a 10.7% rise in full-price sales.
A Cautious Outlook and Wider Retail Turmoil
Despite this robust performance, Next has forecast a slowdown in growth for the 2026-27 financial year. The retailer cited anticipated pressures from a weaker jobs market impacting consumer spending, alongside tougher year-on-year sales comparisons and more moderate overseas growth.
The potential move for Russell & Bromley comes amid continued turbulence on the British high street. In separate retail news, fashion chain River Island is proceeding with a significant restructuring, which involves closing at least 27 stores this month. This follows a broader plan to shut 33 outlets, with branches in Brighton, Edinburgh Princes Street, Great Yarmouth, and Stockton-on-Tees having already closed in late 2025.
Furthermore, Next itself is also reported to be eyeing a potential deal for LK Bennett, which is reportedly on the brink of administration for the second time in six years. This activity underscores Next's strategy of capitalising on opportunities within a challenging retail environment to expand its brand stable.
