Next

Summary

NEXT is a British multinational retailer renowned for its diverse range of fashion, footwear, and home products, catering to men, women, and children. Established in 1982, the brand has grown into a household name, blending contemporary design with quality craftsmanship at accessible price points. With a strong online presence complementing its brick-and-mortar stores, NEXT has embraced innovation in retail to meet the evolving demands of modern consumers. The company’s commitment to sustainability, ethical sourcing, and customer-centric practices has solidified its reputation as a leader in the global market, making it a go-to destination for stylish and reliable essentials.

Vision

NEXT aims to be the leading global clothing retailer for men, women and children by providing high quality products to customers around the world in addition to offering great value for money, innovative products and true customer service. The brand’s overarching goal is to ascend to the pinnacle of the clothing industry, setting new benchmarks for excellence and redefining the shopping experience for its diverse clientele across the globe.

Central to the brand identity is a steadfast dedication to delivering unrivalled quality in every product offered, ensuring that customers not only look and feel their best but also trust in the enduring value of their purchase. At the heart of its commitment lies the fusion of style and substance, as it strives to provide a curated collection that not only reflects the latest fashion trends but also encapsulates the essence of enduring craftsmanship and timeless design.

Mission Statement

NEXT’s mission is to establish itself as a leading global clothing retailer by seamlessly integrating its retail and online platforms to offer customers an unparalleled shopping experience. The fashion brand is committed to providing high-quality clothing, fashion accessories, and fashion-forward advice that resonate with diverse consumer preferences around the world. By maintaining a strong presence both in physical stores and digital channels, NEXT aims to make its stylish and versatile collections accessible to a broad audience, ensuring that every customer can find products that reflect their personal style and meet their everyday needs. This dual-channel approach not only enhances convenience but also enables NEXT to engage with customers in a dynamic, personalized manner, reinforcing their position as a go-to destination for quality fashion.

Central to NEXT’s mission is their dedication to delivering exceptional value without compromising on quality. The brand focuses on staying ahead of fashion trends, curating collections that blend contemporary designs with timeless appeal. By offering expertly crafted garments and accessories at competitive prices, NEXT strives to exceed customer expectations, providing not just products but a complete style experience. Furthermore, they prioritize offering fashion advice and inspiration, empowering customers to make confident choices that suit their individual tastes and lifestyles. Through this commitment to quality, value, and innovation, NEXT aims to solidify its reputation as a trusted global retailer, continually evolving to meet the ever-changing demands of the fashion industry.

History

NEXT has its roots in the brand- Joseph Hepworth and Son- founded by Joseph Hepworth in Leeds in 1864. Initially it was in partnership with James Rhodes but that was dissolved in 1872. Hepworth strategically expanded the ready-to-wear suit brand and by 1884 the company had an estimated hundred outlets. In 1963 he brought in Savile Row designer Hardy Amies to sharpen the ready-to-wear suits. And in 1981 womenswear retailer Kendall and Sons was acquired for a reported £1.75 million. This resulted in the addition of over six hundred stores in Britain.

Chairman Terence Conran recruited George Davies as CEO and he conceptualised creating a new chain- NEXT- by converting Kendall’s and Hepworth’s format to a mini department store retailing women’s and men’s apparel. This was followed by diversification into interiors. In 1986 Davies moved the headquarters from Leeds to Leicester, to be closer to the main garment manufacturers, and the company was renamed NEXT plc. In 1987 it acquired Combined English Stores and Grattan catalogue. And introduced NEXT Kidswear and NEXT Directory.

In 1988 Davies was sacked, accused of taking NEXTto the verge of bankruptcy with over-ambitious plans. That year the company sold over four hundred jewellery stores in the United Kingdom, which traded under Salisburys and Zales- to Ratners Group- for reported US$232 million. The company acquired youth brand Lipsy in 2008. Per The Guardian: “Next has splashed out £17m to buy young fashion brand Lipsy – which is stocked in high street retailers such as Top Shop… The deal comes as Next is seeing sales slide at its 500-strong chain as the economic downturn hits consumer spending.” The following year launched an online catalogue in the US offering apparel, accessories and footwear. The company now has three main channels: NEXT Retail- NEXT Directory and NEXT International.

In 2001 Simon Wolfson was appointed CEO and John Barton was named Chairman in 2006. Their business acumen succeeded in getting the company named “British High Street Retailer of the Year” and appointed Official Clothing and Homeware Supplier to the London 2012 Olympic Games and Paralympic Games. The following year the company sold Ventura- its customer service management business- for a reported sum of £65m and celebrated thirty years in 2012.

In 2017 there was some internal shuffling and Michael Roney was named Chairman. Two years later, the company acquired Fabled by Marie Claire. And the upward trajectory continues. Per The Guardian- “Next knows its customer, sells her what she wants -including kids’ clothes and homewear- and its online operation is strong, efficient and reliable. And as it stands, Next — the quiet kid at school, who nobody ever really noticed — is overtaking its cooler showier counterparts.”

In 2018, Next Ireland Ltd was formally established to focus on the distribution of products in its physical stores and its online store in the Republic of Ireland. At the same time Next Germany was established. In November 2022, Next acquired the London-headquartered furniture retailer Made.com. It made headlines again In December 2022 when the company entered into a joint venture with Tom Joule to buy The Joules Group out of administration for a reported sum of £34 million. The company continues on an upward growth trajectory. In March 2023, it was announced Next had acquired vintage fashion and homeware retailer Cath Kidston for an estimated sum of  £8.5 million.

Leadership Team

Michael Roney (Chairman)
Lord Simon Wolfe (CEO)
Amanda James (Group Finance Director)
Richard Papp (Group Merchandise and Operations Director)
Jeremy Stakol (Group Investments, Acquisitions and Third Party Brands Director)
Jane Shields (Group Sales, Marketing and HR Director)

Products and Services

NEXT offers a comprehensive range of products designed to cater to the diverse needs of its global customer base, focusing on high-quality clothing, footwear, and accessories for men, women, and children. Their fashion collections are known for combining contemporary trends with timeless styles, ensuring that customers can find versatile pieces suitable for both casual and formal occasions. NEXT places a strong emphasis on the craftsmanship and materials used in their products, offering everything from classic wardrobe staples, such as tailored suits and dresses, to seasonal fashion items and trendy, everyday wear.

In addition to their extensive clothing lines, NEXT also provides home products, including furniture, home decor, and accessories. Their home collection is designed to help customers create stylish and comfortable living spaces, offering everything from contemporary furniture pieces and soft furnishings to decorative accessories and lighting solutions.

NEXT complements its product offerings with a range of services aimed at enhancing the overall customer experience. Their comprehensive online platform provides a seamless shopping experience, allowing customers to browse, purchase, and return products easily from the comfort of their homes. Additionally, NEXT’s Click & Collect service enables customers to shop online and pick up their orders at a nearby store, combining the convenience of e-commerce with the accessibility of their extensive retail network.

Awards and Recognition

NEXT has cemented its reputation as a leading force in the fashion industry, combining timeless style with modern innovation to create clothing and accessories for diverse audiences. Known for its high-quality, affordable collections, NEXT appeals to a broad consumer base by delivering on-trend designs without compromising on comfort or durability. Its ability to combine classics with contemporary products has positioned the brand as a staple in both everyday and professional wardrobes. Moreover, NEXT’s commitment to sustainability and ethical practices in recent years has further elevated its status.

References

• Official website NEXT
• Detail-driven NEXT boss steers retailer through turbulence Financial Times
• M&S Loses Britain’s Largest Clothing Retailer to NEXT Bloomberg
• NEXT’s Simon Wolfson on acquisitions Drapers
• Facebook page of NEXT Facebook
• Next CEO Simon Wolfson gearing up for ‘much tougher year’ ahead Business Live
• Return of fashion maverick The Independent
• NEXT knows the customer Forbes
• Twitter page of NEXT Twitter
• NEXT splashes £17m on youth brand Lipsy The Guardian
• Instagram page of NEXT Instagram
• How NEXT went from fashion outsider to high-street heavyweight The Guardian
• Youtube channel of NEXT Youtube
• History of Next plc Next plc
• LinkedIn page of NEXT LinkedIn
• NEXT CEO Warns of Challenging Year Ahead Bloomberg
• Wiki page of NEXT Wikipedia
• NEXT profits overtake M&S The Telegraph
• Snapshot of NEXT Forbes
• NEXT sets up new Irish company Irish Times