Next

Summary

NEXT is a British multinational clothing, footwear and home products retailer, which has its headquarters in Enderby, England. The company operates around seven hundred retail stores in the United Kingdom and another two hundred- odd stores across Europe, Asia and the Middle East and an online retail platform. Today it is reportedly the largest clothing retailer, in terms of sales, in the United Kingdom, is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index.

Vision

Next Plc 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

To be the natural choice retailer in the UK for fashion aware men and women who expect style, distinction and quality from their clothing.

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

Apparel and accessories, footwear and home products.

Awards and Recognition

Next has won many awards including the UK Retail Industry ‘Retailer of the Year’ in 1990 and ‘Retail Environment of the Year’ at Drapers Awards 2010. The company was also named ‘Value Retailer of the Year’ at the Verdict Retail Awards in 2013.

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