Next has bought a big stake in maternity, baby and toddler retailer, JoJo Maman Bébé.

Next has taken a 44 per cent share in JoJo, which has stores in Cheltenham and Stroud. It will invest £16.3million into the brand, as reported by The Daily Mail.

Next has already bought stakes in a number of other retailers, including a 25 per cent stake in Reiss, which has a store in Cheltenham. It also sells hundreds of third-party brands on its website.

Under the deal, the two businesses will remain separate, but JoJo will move to Next's 'Total Platform', which offers online sales infrastructure.

JoJo made a pre-tax profit of £5.8million on sales of £63.5million in its 2021-22 financial year. Following the deal, its 87 stores will stay open and there will be no job losses.

Photo credit: Ross Llewellyn

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