Next, the renowned British fashion retailer, is making bold moves to revolutionize the fashion retail industry by expanding its third-party offerings and positioning itself as the ‘Ocado of fashion retail’. After acquiring a stake in Reiss and securing an option to acquire full control of the brand, Next is aggressively pursuing its goal of transforming its business model and capitalizing on its £2 billion online business. The decision to incorporate Reiss into its ‘total platform’ is a significant move towards achieving this ambitious objective and redefining the future of fashion retail.
In addition to the strategic partnership with Reiss, Next has recently unveiled the latest Laura Ashley collection in collaboration with the beloved heritage brand. The SS21 collection showcases a blend of contemporary designs and timeless pieces, now accessible on both Next’s website and Laura Ashley’s online store. Furthermore, the collection will be showcased in 48 Next locations post-reopening, including a flagship store-in-store at Westfield London, enhancing the brand’s visibility and market reach.
Following its acquisition by investment firm Gordon Brothers last year, Laura Ashley has been actively seeking licensee partnerships to strengthen its presence in the wholesale and retail landscape. For Next, the collaboration with Laura Ashley signifies a shift towards establishing itself as a leading third-party technology provider in the fashion sector, aligning with its long-term growth strategy.
Next’s expansion plan integrates hosting smaller and mid-sized fashion brands on its platform, offering a range of services such as logistics, warehousing, customer databases, and customer services alongside online retail capabilities. The company aims to mitigate risks for brands through a fixed commission model akin to The Hut Group’s THG Ingenuity, positioning itself as a tech partner for fashion brands seeking an all-encompassing solution beyond traditional online sales.
Despite drawing comparisons to industry giants like Ocado and THG Ingenuity, Next’s CEO, Wolfson, emphasizes the distinctive value proposition of the company’s ‘total platform’ concept in the market. With a focus on onboarding more fashion brands, particularly those with turnovers between £50 million and £250 million, Next is on track to solidify its position as a pioneer in fashion technology, with Reiss acting as a pivotal test case for the platform’s success.
While acknowledging the time required for the platform to yield substantial profits, Wolfson remains steadfast in Next’s vision of reshaping fashion retail and establishing itself as the premier destination for third-party fashion brands seeking a robust online platform. The relentless pursuit of innovation and transformation underscores Next’s commitment to shaping the future of fashion retailing and driving industry-wide change.
For more information on Next’s innovative approach in fashion retail, visit their official website here. Explore the latest collections and collaborations to stay updated on the brand’s trajectory towards becoming a fashion tech powerhouse.
