Next, a retail giant, has acquired a significant stake in Rockett St George, a homeware brand, reinforcing their existing partnership.
- The investment of £800,000 grants Next a 16% shareholding, strengthening their position in the homeware market.
- This acquisition follows several successful collaborations between the two companies, including homeware and clothing lines.
- A Next director will join Rockett St George’s board to influence the brand’s strategic direction.
- The investment aligns with Next’s strategy to expand its portfolio, following recent stakes in Reiss and FatFace.
In a strategic move to bolster its presence in the homeware sector, Next has acquired a 16% stake in Rockett St George for £800,000. This acquisition marks a continuation of a collaborative relationship between the retail giant and the homeware brand, cemented through various product lines previously launched together.
The partnership, underpinned by a licensing agreement, has seen the launch of Rockett St George’s inaugural home collection with Next, featuring unique products like “naughty corner” cushions and leopard print side plates. Furthermore, a diverse range of nightwear, swimwear, and accessories have been introduced, broadening the scope of their collaborative efforts.
A significant aspect of this agreement is the inclusion of a Next director on Rockett St George’s board, a move poised to facilitate strategic guidance and operational synergy, thus potentially increasing market reach and influence.
Rockett St George, in response to this investment, has expressed intentions to leverage the capital influx to diversify its product offerings and extend its customer base. The brand anticipates this development will spur growth and innovation within its portfolio, aligning with its long-term expansion strategy.
This acquisition is part of a broader trend for Next, which recently increased its stake in fashion brand Reiss from 72% to 74% and acquired a majority share in FatFace for £115.2 million.
Next’s acquisition of a stake in Rockett St George signifies a strengthened partnership and strategic positioning in the homeware market.
