Next, the renowned clothing retailer from the UK, is, reportedly, in talks to acquire struggling lifestyle retailer Joules.
If media reports are anything to go by, Next has been in negotiations for several weeks to buy 25 per cent of British retailer Joules.
That would cost about £ 10 million at the smaller company’s present valuation.
Though it is too early to say when the acquisition will happen, but if and when it happens, Joules will become a part of Next’s online platform.
Next seems to be striking joint ventures with many brands! First, it was Reiss and Victoria’s Secret and now it’s eyeing to acquire Joules.
The move follows Next’s decision to up its full-year profit guidance 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 growing inflation.
