The famed UK clothes store is also allegedly in talks to purchase Joules, a failing lifestyle brand. According to media sources, Next has been negotiating to acquire 25% of British retailer Joules for a number of weeks. At the current estimated value of the smaller company, that would cost around £10 million. Although it is too soon to predict when the acquisition will occur, Joules will join Next’s online platform if and when it does.
The next step appears to be forming partnerships with other brands! Victoria’s Secret and Reiss came first, and now Joules is being considered for acquisition. The action comes after Next raised its full-year profit forecast by £ 10 million to £ 860 million. Presently, British apparel retailer Joules has about 130 stores and employs more than 1,000 employees. However, lately it’s been struggling to survive owing to grow inflation.