Next is apparently in advanced talks to buy vintage lifestyle brand, Cath Kidston.
According to Sky News, the deal could be wrapped up as soon as today (Tuesday 28 March) and would see Cath Kidston become the latest brand to join Next’s portfolio which already includes Joules and Made.com.
Next’s acquisition strategy has focused on well-known names which have run into financial difficulties and would be able to benefit from its logistics and marketing firepower, Sky reported.
Cath Kidston has been owned by specialist retail investor, Hilco Capital for under a year, with PricewaterhouseCoopers having been advising on a sale for several weeks.
Established by its eponymous founder in 1993, it became a high street fixture with scores of standalone shops. However, a pre-pack insolvency deal in 2016 saw the closure of its UK high street estate, although it still has a presence in a number of designer outlet centres, as well as a flagship store on London’s Piccadilly.
Cath Kidston has also enjoyed several high profile and successful licensed collaborations.