🛒 Next Expands with New Investment
On 24th September 2024, Next made headlines by acquiring a 16% stake in Rockett St George, a homeware and lifestyle brand. The deal, worth £800,000 (about $975K), marks another significant investment for Next. It follows a successful series of collaborations between the two companies, primarily in homeware and clothing.
🤝 Strengthening Partnerships
The collaboration between Next and Rockett St George began with a licensing agreement that led to several joint collections. These include the “naughty corner” cushions and leopard print side plates in April and a 38-piece nightwear, swimwear, and accessories collection in June. This new stake solidifies their partnership even further.
📈 Board Involvement & Future Growth
As part of the deal, a director from Next will join Rockett St George’s board. This move indicates Next’s commitment to the brand's growth. Rockett St George plans to use this investment to expand its product range and reach more customers. “This investment will allow us to push our brand to new heights,” a spokesperson for Rockett St George said.
🏷️ Next's Investment Strategy
This acquisition is the latest in a series of strategic moves by Next. Earlier in 2024, Next increased its stake in Reiss from 72% to 74%. In another significant deal, Next acquired a 97% stake in FatFace for £115.2M (about $140.3M). These investments underscore Next’s strategy of expanding its portfolio through targeted acquisitions in the fashion and homeware sectors.
How will this investment impact Rockett St George's future?
