Next resurrects fashion brand
By Sarah Wood | 22nd November 2022
US fashion brand, Banana Republic, is to make a return to the UK, through Next.
Banana Republic is owned by Gap. Last year, Next agreed to manage Gap's UK business, under a joint venture in which Next owns 51 per cent and Gap owns 49 per cent, as reported by Retail Gazette.
Banana Republic shut down its UK website in May this year. It had previously had nine UK stores, but closed them in 2016, due to poor sales
The Banana Republic range on Next's website includes 135 products, with prices ranging from £25 to £195.
Another Gap-owned retailer, US women's sports and activewear brand Athleta, will launch on Next's website early in 2023.
This is the latest in a spate of larger retailers selling third-party brands on their website and follows news yesterday that M&S is to stock Superdry menswear on its website.
Meanwhile, following news last week that British fashion retailer, Joules, has gone into administration, the owner of Hobbs and Phase Eight is in discussions about investing in the business.
It's thought The Foschini Group (TFG) could face some tough competition, with Marks & Spencer, Next and Frasers Group all said to be interested in snapping up Joules.
Punchline said: "Fashion retail is on a real merry-go-round at the moment. The news from this week alone suggests that only the likes of Marks & Spencer and Next have the money, experience and influence to resurrect smaller, struggling brands."
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