NEXT is reportedly considering a takeover of British handbag label Radley, following its recent acquisition of footwear retailer Russell & Bromley through an insolvency process just months earlier.
The British high street retailer is reportedly in talks with Radley's owner, private equity firm Freshstream, and its advisers over a potential deal to acquire the brand and its intellectual property assets, according to Sky News.
The discussions come as NEXT continues to expand its presence in the fashion and accessories market through a series of brand-led acquisitions.
Expansion Strategy Through Brand Acquisitions
The potential Radley deal would add to NEXT's growing portfolio of high street fashion names, including FatFace, Joules, Cath Kidston, and Seraphine, where the focus has been on acquiring established brands and intellectual property rather than physical retail store networks.
Industry sources told Sky News that any transaction involving Radley would likely be structured through a pre-packaged administration. However, they added that the sales process is still in its early stages and that no agreement has been finalized.
The Sun reported that NEXT is not the only party showing interest in the brand. Radley is also said to be in discussions with Gordon Brothers, the US-based investment firm that owns Poundland and previously controlled Laura Ashley, suggesting a competitive process may emerge.
If completed, a deal would further underline NEXT's strategy of acquiring underperforming or restructuring brands and repositioning them within its broader online and retail ecosystem, with a strong emphasis on licensing, digital growth, and operational turnaround.'
Radley's Ongoing Transformation and Financial Pressure
Radley has been undergoing a strategic review since March, following a three-year transformation program led by chief executive Nick Vance. The brand has been repositioning itself as "a modern British icon of accessible luxury" following the publication of its 2024 financial results.
In comments to TheIndustry.fashion in 2025, Vance said: "Like so many accessories brands, in 2024 we experienced a challenging global market," while noting that the company's transformation plan was "progressing well".
He also outlined ambitions to develop what he called "the world's best £299 handbag", supported by a refreshed design direction under first-ever design director Fernando Soriano Iglesias, who joined from Parfois in January 2025 and has previously worked with Loewe, Carolina Herrera, and Calvin Klein.
Radley's latest financial results for the period to April 2025 showed growth in direct-to-consumer, digital, and licensing sales. However, wholesale performance declined, partly due to technology disruptions and retail partners shifting towards drop-ship and marketplace models.
The company reported a £2.2 million loss for the year, with revenues falling from £72 million in 2024 to £65.8 million, according to an investment platform cited in reporting.
The United States accounts for around 15% of group revenue, highlighting Radley's partial reliance on overseas markets despite its UK-focused retail presence.
Founded in 1998 by Lowell Harder, Radley is now owned by Laddie Topco. As of 2025, it operates two standalone stores in London's Covent Garden and Glasgow, alongside 18 UK outlet stores.
The brand remains a recognized name in British accessories but continues to navigate a challenging retail environment as its strategic review progresses.
