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Next to Acquire 25% Stake in Fashion Rival

Fashion is at a crossroads: continue with cutting-edge strategies developed to persevere during Covid or slide back into familiar (yet unprofitable) habits? Get the experts' perspective at our in-person Sourcing Summit, Oct. 19 at New York’s Cipriani 42nd Street.

British fashion retailer Next plc is set to take a 25 percent stake in retail rival Reiss Ltd. for an undisclosed amount. Next will acquire shares from existing shareholders, it said on Monday. Reiss and its digital presence have performed well throughout the coronavirus pandemic, and sources said private equity firm Warburg Pincus has been…

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