Next Acquires Russell & Bromley Brand in Insolvency Deal

Fashion retailer Next has agreed to acquire the Russell & Bromley brand in a deal that reshapes the future of one of Britain’s longest established footwear names. The transaction, completed through an insolvency process, sees Next purchase the brand and intellectual property for £2.5 million, alongside an additional £1.3 million for selected stock. Russell & Bromley, founded more than a century ago, has built a reputation for premium footwear and accessories across the UK and Ireland. The acquisition highlights continued consolidation within the retail sector as larger groups look to secure heritage brands with loyal customer bases. For Next, the deal offers an opportunity to expand its footwear and accessories portfolio while leveraging its scale, logistics and digital capabilities to revitalise a struggling but well known name on the British high street.

As part of the agreement, Next will take ownership of three Russell & Bromley stores, including flagship locations on Oxford Street and King’s Road in London, as well as a site at the Bluewater shopping centre. These locations are among the brand’s most prominent, giving Next a foothold in key retail destinations. The remaining stores and concessions are not included in the purchase and will continue to trade under the supervision of administrators while options are assessed. Russell & Bromley currently operates 36 stores and nine concessions, employing around 440 people, and administrators have said efforts are ongoing to secure outcomes for the rest of the estate. The transaction reflects the uneven recovery across UK retail, where established brands continue to face pressure from rising costs and changing consumer behaviour.

Next has pursued a disciplined expansion strategy in recent years, combining organic growth with selective acquisitions that complement its core offer. Analysts say the purchase of Russell & Bromley fits that approach, allowing Next to add a recognised footwear brand without taking on the full burden of its store network. The deal also underlines the challenges facing mid market retailers as footfall remains volatile and operating costs stay elevated. While the future of Russell & Bromley’s wider estate remains uncertain, the acquisition ensures the survival of the brand itself under new ownership. Attention will now turn to how Next integrates the label and whether it can restore sustainable growth in a competitive retail environment.