British lifestyle group, Joules has responded to media speculation over the weekend, confirming that it is in discussions with Next about adopting its Total Platform services to support its long-term growth plans.
In addition, Joules also confirmed it is in discussions with Next about a potential equity investment raising proceeds of c £15 million at no less than Joules’ current market price.
This would result in Next becoming a strategic minority shareholder in the group.
The equity investment would be subject to approval by Joules’ shareholders.
The confirmation comes following Sky News’ report over the weekend that Next was swooping for a stake in the lifestyle retailer.
Joules has enjoyed several successful licensed collaborations – being recognised at the Brand & Lifestyle Licensing Awards – with one of its most recent being with RSPB. Last year also saw it partner with Magic Light Pictures for a collection inspired by The Gruffalo (pictured).