In a strategic investment move, Next has acquired a 16% stake in the innovative homeware and lifestyle brand Rockett St George.
- Next’s £800,000 investment signifies a strengthening relationship following previous product collaborations.
- The investment includes appointing a Next director to Rockett St George’s board, potentially influencing future decisions.
- Rockett St George eyes expansion with new funds, planning to broaden both its product range and customer base.
- This acquisition is part of Next’s trend of strategic investments, following increased stakes in both Reiss and FatFace.
Next has taken a bold step by acquiring a 16% stake in Rockett St George, a decision costing £800,000, reflecting its commitment to deepening its ties with the homeware and lifestyle sector. This investment comes on the heels of several successful collaborations between the two companies, where they explored synergies through licensing agreements and joint product lines.
The acquisition not only injects capital into Rockett St George but also grants Next significant influence over its operations, as evidenced by the placement of a Next director on the company’s board. This move suggests a collaborative future where both entities could leverage each other’s strengths to gain a competitive advantage in the market.
Rockett St George plans to utilise this investment to expand its product offerings and reach a wider audience. The brand has already made notable strides with its initial product collections launched in partnership with Next, including ‘naughty corner’ cushions and leopard print side plates. The additional funding is anticipated to boost further innovation and market penetration.
This strategic move is part of a broader pattern for Next, which has been actively increasing its investment portfolio across high-street brands. Recently, it augmented its holding in Reiss from 72% to 74% and took a commanding 97% stake in FatFace, investing £115.2 million. These activities underscore Next’s strategic approach to fortifying its position within the retail sector.
The acquisition reflects Next’s strategic vision to enhance its market presence and Rockett St George’s ambition to grow further.
