Next is in talks to acquire or take a stake in Russell & Bromley, according to reporting by Sky News. City sources told Sky that a number of other investors are also considering investing in the 145-year-old shoe retailer, although their identities are not known.
Some weeks ago, Russell & Bromley confirmed that it had drafted in advisory firm Interpath to explore options for raising finance for the business. Despite being a well-known high street brand with a reputation for quality, the heritage retailer has struggled financially in recent years, hit by weak consumer demand and inflation. It was last profitable in 2019, when it generated around £0.9 million on a £85 million turnover. Last year, turnover dropped 9% to £56.5 million.
Investing in its future
In 2024, the company relocated its global headquarters to Kingly Street in Soho, London, and its distribution centre to Corby, Northamptonshire – a significant investment aimed at driving efficiency and laying the groundwork for international expansion. Then, in February 2025, the company announced a five-year turnaround ‘Reboot’ strategy to focus on “refining the brand proposition, elevating the product offering, streamline operations and fuel market expansion at pace”, according to reporting by fashionnetwork.com.
Meanwhile, Next, which has a market capitalisation of £16.6 billion and reported a 10.5% rise in full-price sales for Q3 2025, has recently acquired a number of struggling retailers, including Joules, Fatface and Cath Kidson – all quintessentially British “accessible premium” brands, a stable into which Russell & Bromley would fit neatly.
What Next has to offer
The same family has owned Russell & Bromley for five generations – but there are clear advantages to a Next deal. The retail giant’s proven strength in ecommerce, logistics, and digital marketing could offer Russell & Bromley a powerful platform to reach new audiences and scale efficiently. By leveraging Next’s integrated online infrastructure and expansive product ecosystem, heritage brands can maintain their distinctive identity while benefiting from enhanced visibility, streamlined fulfilment, and data-driven customer insights – turning traditional retail appeal into omnichannel success.
If the deal goes ahead, Russell & Bromley could join Joules, FatFace, and Cath Kidston in Next’s growing stable of British lifestyle brands – unlocking new growth through Next’s ecommerce muscle and omnichannel reach.
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