Next Plc Buys British Footwear Brand Russell & Bromley for 2.5 Million Pounds in Cash

Core Viewpoint - Next plc has acquired Russell & Bromley for a total of 3.8 million pounds, securing the future of the historic British footwear brand [1][2][3] Group 1: Acquisition Details - Next has purchased the Russell & Bromley name and intellectual property for 2.5 million pounds in cash [1] - An additional 1.3 million pounds will be paid for a portion of the current stock [2] - Three Russell & Bromley stores will be transferred to Next under license, including locations on Oxford Street, King's Road, and Bluewater Shopping Centre [2] Group 2: Impact on Employment and Operations - The acquisition leaves 33 stores not included in the transaction, with 440 jobs at risk due to the sale [3] - Next aims to provide operational stability and expertise to support Russell & Bromley's future [4] Group 3: Company Background and Strategy - Next reported over 6 billion pounds in revenue last year and is actively seeking retail and brand opportunities [5] - Russell & Bromley, founded in 1873, had recently initiated a transformation plan, including a move to Soho and a focus on brand enhancement [6]