Next increases Reiss stake to 72% in £128m deal

High street chain links up with Reiss family to buy 34% shareholding from private equity firm Warburg Pincus

The high street chain Next has increased its stake in Reiss to 72% in a deal that values the fashion retailer at almost £400m.

Next – which already controls Reiss, having built a 51% stake in the business since 2021 – and the Reiss family have struck a £128m deal to buy a 34% shareholding from the private equity firm Warburg Pincus.