Next has acquired a 16% stake in Rockett St George for £800,000, strengthening their collaborative efforts in the homeware sector.
- The recent acquisition follows a series of successful collaborations between Next and Rockett St George, including homeware and clothing collections.
- A director from Next is set to join the board of Rockett St George, indicating a deeper strategic partnership between the two entities.
- Rockett St George aims to use the new investment to broaden its product offerings and expand its customer reach.
- Next, as part of its growth strategy, has also increased its holdings in Reiss and FatFace earlier this year.
Next has strategically acquired a 16% stake in the homeware and lifestyle brand Rockett St George for a total sum of £800,000. This move enhances their presence in the homeware market, following previous collaborations under a licensing agreement.
A key aspect of this acquisition is the appointment of a Next director to the Rockett St George board. This signifies a commitment to a more integrated business approach, potentially facilitating more joint ventures and aligned growth strategies.
Rockett St George plans to leverage this investment to diversify its product range and expand its customer base. The brand has already made notable strides with its inaugural home collection launched with Next in April, featuring unique items such as “naughty corner” cushions and leopard print side plates.
Further consolidating their partnership, Rockett St George introduced a 38-piece nightwear, swimwear, and accessories collection in June, showcasing the potential of this collaboration.
In parallel with its investment in Rockett St George, Next has adjusted its holdings in other retail ventures. The company increased its stake in Reiss from 72% to 74% and acquired a dominant 97% share in FatFace for £115.2 million earlier this year. This series of investments highlights Next’s strategic efforts to bolster its portfolio across various retail sectors.
Next’s strategic investments underscore its commitment to expanding its influence in the homeware and fashion retail markets.
