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The Guardian - UK
The Guardian - UK
Business
Mark Sweney

Next increases Reiss stake to 72% in £128m deal

David Reiss Next Warburg Pincus Joules United States
A Reiss store front in Manchester city centre. The retailer is valued at at £376m after Next extended its stake.
A Reiss store front in Manchester city centre. The retailer is valued at at £376m after Next extended its stake. Photograph: Andrew Paterson/Alamy

The high street chain Next has increased its stake in Reiss to 72% in a deal that values the fashion retailer at almost £400m.

Next – which already controls the clothing retailer, having built a 51% stake in the business since 2021 – and the Reiss family have struck a £128m deal to buy a 34% shareholding from the private equity firm Warburg Pincus.

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