×
58 021
Fashion Jobs
ABERCROMBIE AND FITCH CO.
1st Shift Security Associate (Full-Time)
Permanent · Columbus
ABERCROMBIE AND FITCH CO.
2nd Shift Security Associate (Full-Time)
Permanent · Columbus
ABERCROMBIE AND FITCH CO.
3rd Shift Security Associate (Full-Time)
Permanent · Columbus
ROSS STORES
Store Protection Specialist
Permanent · Fresno
ULTA BEAUTY, INC.
General Manager
Permanent · Warrensville Heights
MICHAEL KORS
Looking For ft Sales Supervisor. 20-29 Hours/wk-Kings' Shops
Permanent · Waikoloa Village
MACY'S
Asset Protection Detective, Cool Springs - Standard Part Time
Permanent · Franklin
MACY'S
Asset Protection Officer, West Virginia - Part Time (2840)
Permanent · Martinsburg
MACY'S
Asset Protection Detective, Brea - Full Time
Permanent · Brea
MACY'S
Beauty Account Coordinator
Permanent · Peabody
MACY'S
Asset Protection Security Guard, West Covina - Flex
Permanent · West Covina
MACY'S
Manager, Merchandise Execution
Permanent · New York
MACY'S
Asset Protection Detective, Green Acres - Full Time
Permanent · Valley Stream
MACY'S
Manager, Merchandise Execution
Permanent · Garden City
MACY'S
Asset Protection Security Guard, Woodlands Mall - Flex
Permanent · The Woodlands
MACY'S
Asset Protection Detective, Lehigh Valley - Full Time
Permanent · Whitehall
MACY'S
Asset Protection Detective, Summit Mall - Full Time
Permanent · Akron
MACY'S
Asset Protection Detective, Southshore - Full Time
Permanent · Bay Shore
MACY'S
Demand Planner Associate
Permanent · New York
MACY'S
Asset Protection Detective, Walden Galleria - Standard Part Time
Permanent · Cheektowaga
MACY'S
Assistant Manager, Asset Protection
Permanent · Dallas
MACY'S
Asset Protection Detective, Del Amo Fashion Center - Full Time
Permanent · Torrance
Published
Aug 8, 2022
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Next in talks to buy 25% stake in troubled Joules

Published
Aug 8, 2022

Next has been busy buying up stakes in both strong and struggling businesses and the latest example of the latter is Joules, at least according to a news report.


Joules


The fashion, homewares and beauty retailer is in talks with Joules to buy a 25% stake, with negotiations having gone on for several weeks.

There was speculation after a news report and Joules confirmed the talks on August 8.

It said: “Joules confirms that it is in discussions with Next Plc about adopting its Total Platform services to support the group's long-term growth plans. Additionally, in conjunction, Joules confirms it is in discussions with Next about a potential equity investment raising proceeds for Joules of c.£15 million at no less than Joules' current market price, which would result in Next becoming a strategic minority shareholder in the group. The equity investment would be subject to approval by Joules' shareholders. There can be no certainty these discussions will lead to any agreement. A further announcement will be made if and when appropriate.”

It’s logical that any equity stake would also involve Joules using the Next Total Platform and that would make good commercial sense for the smaller firm as that platform is known for its slick efficiency.

Joules has had both ups and downs in recent years, the latter including some missteps, as well as problems (such as the pandemic) not of its own making. It has issued profit warnings and last month hired KPMG to help with its liquidity situation. It subsequently agreed an extension to its banking facilities.

Despite operating around 130 stores and employing more than 1,000 people, the company has lost a lot of value in the last year with its share price down almost 90%, giving it a market capitalisation of only £37 million.

That would make the acquisition of a 25% stake by Next a pretty cheap deal for the retail giant.

It's unclear how any deal would be structured and whether it might include an option to buy an even bigger holding, something that Next has had written into previous stake purchases with other companies.

Although Next was originally known for its own label, over the years it has expanded into a multi-brand business, which includes selling third-party brands and also investing in companies or taking outright ownership of them.

It has category license deals with Ted Baker, partnerships with Laura Ashley, Gap and Victoria’s Secret, owns Jojo Maman Bébé as part of a consortium, and has a 25% stake in Reiss with an option to increase that.

With such links to a large number of brands either via licenses or ownership, it’s no surprise that the company's name is often mentioned as a potential bidder when brands come up for sale.

Copyright © 2022 FashionNetwork.com All rights reserved.