{ "schemaVersion": 1, "organisationId": "O-712aa179385f4b2699235140dea22c30", "slug": "next", "name": "NEXT", "updatedAt": "2026-03-19T21:05:11.900804Z", "sections": [ { "type": "OVERVIEW", "text": "NEXT plc is a UK-based online and store retailer founded in 1982 that operates primarily in fashion, homeware and beauty. The business has evolved from a women’s clothing company into a broader retail and platform model that combines product development, sourcing, buying and merchandising with an aggregation platform selling both NEXT and third-party brands through online and store channels. Its core offer includes clothing for women, men and children, alongside footwear, accessories, homeware and beauty, and the group works with more than 1,000 third-party brands.[https://www.nextplc.co.uk/~/media/Files/N/next-plc-v4/about-next/business-model-2025.pdf][P-67b3d93e07e547d5b4fb2d916aaadd73][P-e8dbabe6c1e64e7d83d0cbfafba96d13][P-812c5eae6c514ed69873d8609023d1c1][P-2650a80ae5f649f9a74c79e792e05d1f]\n\nNEXT states that its objective is to offer beautifully designed, good-quality products that are responsibly sourced and accessibly priced, and to make its platform the natural first choice for customers buying fashion and homewares.[P-67b3d93e07e547d5b4fb2d916aaadd73][P-7267c831633946e6b461762c13b1fb25] Geographically, the company is anchored in the UK and Ireland, where it has more than 800 stores, and it also operates more than 200 franchised stores internationally, alongside international websites and third-party aggregator relationships.[P-58944b7e4e714ec583069ffe4befb0f8][P-d447801881cc44009ea63036fac8d704][P-782ca996f79042cba4ba8b94ebdcbb58] In the year to January 2025, NEXT reported statutory revenue of £6.1 billion and total Group sales of £6.3 billion, and company reporting indicates a workforce of about 44,000 people.[T-1900fecebb094ccb9fa08a522d98af72][https://www.nextplc.co.uk/~/media/Files/N/next-plc-v4/about-next/corporate-responsibility-report-2025.pdf]\n[P-67b3d93e07e547d5b4fb2d916aaadd73][P-e8dbabe6c1e64e7d83d0cbfafba96d13][P-812c5eae6c514ed69873d8609023d1c1][P-2650a80ae5f649f9a74c79e792e05d1f][P-7267c831633946e6b461762c13b1fb25][P-58944b7e4e714ec583069ffe4befb0f8][P-d447801881cc44009ea63036fac8d704][P-782ca996f79042cba4ba8b94ebdcbb58][T-1900fecebb094ccb9fa08a522d98af72][https://www.nextplc.co.uk/~/media/Files/N/next-plc-v4/about-next/business-model-2025.pdf][https://www.nextplc.co.uk/~/media/Files/N/next-plc-v4/about-next/corporate-responsibility-report-2025.pdf]", "updatedAt": "2026-03-19T21:05:11.900804Z" }, { "type": "PRODUCTS", "text": "NEXT’s product range centers on its own-brand clothing, homeware and beauty products, which are developed by an in-house team and sold through stores and online. The company says these NEXT-branded products are designed to offer “great design, quality and value for money.” [P-ad7c194e5bc54fba92527342f7151df4][P-5c93b62601e8486e98a04d0c0d7128fd] In addition to its own label, NEXT operates the LABEL business, which sells more than 1,000 third-party clothing, home and beauty brands online on either a commission or wholesale basis, broadening the assortment beyond NEXT’s usual design, fashion and price boundaries. [P-5d697e9c42b94a3a8fa04f31df4c5bd1][P-aeee501b68c2418fbac2d228c5d1ec27] NEXT also offers third-party brand licences, combining its sourcing and quality expertise with partner brands’ design inspiration. [P-73aaa05c2a0a4405a0cfc1204eeefd7f]\n\nBeyond merchandise, NEXT has several service-led offerings. Its Total Platform business provides third-party brands with a full suite of operational services, including websites, marketing, warehousing, distribution networks and contact centres. [P-f77f0a8a276a49f4a05e18e5ebeaf3f6] It also operates customer credit products through NEXT Finance, including NEXT credit accounts branded as nextpay and next3step. [P-37c0ae6ae61d4de4884c5c0be99de97a][P-b976d3a709474594b7ac98309bb9e0df] By FY2025 external revenue, NEXT Online generated £3.2 billion, or about 52.3% of revenue, NEXT Retail generated £1.8 billion, or 29.8%, Total Platform generated £690.0 million, or 11.3%, and NEXT Finance generated £301.0 million, or 4.9%. [T-7dfb9fccab0943e09d2d013bbc9321cf]\n[P-ad7c194e5bc54fba92527342f7151df4][P-5c93b62601e8486e98a04d0c0d7128fd][P-5d697e9c42b94a3a8fa04f31df4c5bd1][P-aeee501b68c2418fbac2d228c5d1ec27][P-73aaa05c2a0a4405a0cfc1204eeefd7f][P-f77f0a8a276a49f4a05e18e5ebeaf3f6][P-37c0ae6ae61d4de4884c5c0be99de97a][P-b976d3a709474594b7ac98309bb9e0df][T-7dfb9fccab0943e09d2d013bbc9321cf]", "updatedAt": "2026-03-19T21:05:11.900804Z" }, { "type": "GEOGRAPHY", "text": "NEXT is predominantly a UK-based business. In FY2024, external revenue by customer location was £4,600.6 million from the United Kingdom, £521.9 million from the rest of Europe, £255.0 million from the Middle East, £41.9 million from Asia, and £71.6 million from the rest of the world, meaning about 84% of revenue came from the UK, 9.5% from the rest of Europe, and 4.6% from the Middle East.[P-8bdfa8f62d814adabdb150c96925abcb][T-0c9ba80a35af4eff90df51d6dc69c42c] Its non-current assets were even more concentrated in the UK, at £1,408.9 million out of £1,444.7 million total, with smaller balances in Asia (£28.0 million), the Middle East (£4.3 million), and the rest of Europe (£3.5 million).[P-8bdfa8f62d814adabdb150c96925abcb][T-0c9ba80a35af4eff90df51d6dc69c42c]\n\nThe company’s registered office is in Enderby, Leicester, and its physical footprint includes over 800 stores in the UK and Eire, 267 franchised stores, and a presence in 34 countries.[P-a4faac60451c4ca5ad99750aab9ff65c][P-c631dfab377e45a5a5a34e5c06f5975c][P-58944b7e4e714ec583069ffe4befb0f8][P-d447801881cc44009ea63036fac8d704] Its distribution network includes 9 UK warehouses, 7 UK depots, and 3 international hubs.[P-88eefcf51f6e4703ac8a7ddbd773d625][P-febf39a1474c4c319fde251ebd5d05e9][P-d082251f06bd4aa2a37ecd9f5f4b3ce1] NEXT also reports around 7.6 million UK Online customers and 1.7 million overseas customers, and says over 4,800 colleagues are based at head office.[P-1824507231b74603a5433d8b6c96b544][P-79b7b0b7040b459cbea8c4c0e5740d14][P-7384aadd688a46afb7485c3e84701208]\n[P-8bdfa8f62d814adabdb150c96925abcb][T-0c9ba80a35af4eff90df51d6dc69c42c][P-a4faac60451c4ca5ad99750aab9ff65c][P-c631dfab377e45a5a5a34e5c06f5975c][P-58944b7e4e714ec583069ffe4befb0f8][P-d447801881cc44009ea63036fac8d704][P-88eefcf51f6e4703ac8a7ddbd773d625][P-febf39a1474c4c319fde251ebd5d05e9][P-d082251f06bd4aa2a37ecd9f5f4b3ce1][P-1824507231b74603a5433d8b6c96b544][P-79b7b0b7040b459cbea8c4c0e5740d14][P-7384aadd688a46afb7485c3e84701208]", "updatedAt": "2026-03-19T21:05:11.900804Z" }, { "type": "SEGMENTS", "text": "NEXT’s latest reported segment structure identifies five reportable segments: NEXT Online, NEXT Retail, NEXT Finance, Total Platform, and Other business activities. NEXT Online covers online retail, NEXT Retail covers store-based retail, NEXT Finance covers customer credit/finance income, Total Platform includes the sales, profit and related assets of Total Platform businesses such as Reiss, FatFace and Joules plus equity investments, and Other business activities groups property management, franchise and wholesale, sourcing, and corporate or central items. [P-577502cc445a421b9afecdd05ffcc41c][P-40abdaf4379b44459067bf156bebe556][P-2eb101350afd4fe8bf96c475239daa00][P-6f6566118b894275931820f8e07fdf09][P-7ae7a65f46ed40fd9f5142925f0e7da6][P-64f3805e095b4d93bd398caad7109a65][P-08d4a5dd3ee44d9bb42af2cbc4e9271a][P-9c99f9a8425f4e48bf741fafd414ba00][P-9d2cf1b3c15b4c999f4a34c0664bcb44] Based on FY2025 segment revenue of £6,118.1 million, NEXT Online contributed about 52%, NEXT Retail about 30%, Total Platform about 11%, NEXT Finance about 5%, and Other business activities about 2%. [T-7dfb9fccab0943e09d2d013bbc9321cf][P-6f6566118b894275931820f8e07fdf09][P-7ae7a65f46ed40fd9f5142925f0e7da6][P-64f3805e095b4d93bd398caad7109a65][P-08d4a5dd3ee44d9bb42af2cbc4e9271a][P-9c99f9a8425f4e48bf741fafd414ba00] Within NEXT Online, management also separately splits UK and International online sales in its operating review; on that basis, UK represented roughly 73% of Online sales and International roughly 27%. [P-afa91df9d3ee45798357f0589f174204]\n\nNEXT has also used a more granular segmentation. In FY2024, it separately disclosed Property Management and Franchise, Sourcing and other alongside NEXT Online, NEXT Retail, NEXT Finance and Total Platform, rather than combining those activities into a broader “Other business activities” line. [P-30367fc209114ccc96cff27e585e8208][P-a6b7f70a58154db6820c7ee944f3b907] On that earlier statutory-sales basis, the mix was approximately 52.8% NEXT Online, 33.6% NEXT Retail, 5.3% NEXT Finance, 6.6% Total Platform, 0.4% Property Management, and 1.2% Franchise, Sourcing and other. [T-c28cae7a68b4440c9cdb4e6fca7af9dd][P-a6b7f70a58154db6820c7ee944f3b907]\n[P-577502cc445a421b9afecdd05ffcc41c][P-40abdaf4379b44459067bf156bebe556][P-2eb101350afd4fe8bf96c475239daa00][P-6f6566118b894275931820f8e07fdf09][P-7ae7a65f46ed40fd9f5142925f0e7da6][P-64f3805e095b4d93bd398caad7109a65][P-08d4a5dd3ee44d9bb42af2cbc4e9271a][P-9c99f9a8425f4e48bf741fafd414ba00][P-9d2cf1b3c15b4c999f4a34c0664bcb44][T-7dfb9fccab0943e09d2d013bbc9321cf][P-afa91df9d3ee45798357f0589f174204][P-30367fc209114ccc96cff27e585e8208][P-a6b7f70a58154db6820c7ee944f3b907][T-c28cae7a68b4440c9cdb4e6fca7af9dd]", "updatedAt": "2026-03-19T21:05:11.900804Z" }, { "type": "HISTORY", "text": "NEXT was founded in 1982 as a women’s clothing retailer, and the brand’s first seven stores opened on 12 February 1982.[P-b7506f5798804cc2889490079a0a55d0][https://theindustry.beauty/in-history-a-timeline-of-next-marking-40-years-of-british-fashion-icon/] In 1984 it moved into menswear, in 1985 it added home furnishings, and in 1986 the company adopted the name NEXT plc and merged with Grattan mail order.[http://www.fashionencyclopedia.com/Mu-Pi/Next-Plc.html] In 1987 it launched a direct-to-customer catalogue, an early step in the multichannel model it later developed online.[P-b7506f5798804cc2889490079a0a55d0]\n\nSimon Wolfson became chief executive in 2001.[https://www.nextplc.co.uk/about-next/our-board] NEXT then broadened its brand portfolio and third-party offer, acquiring Lipsy in 2008 and launching the LABEL branded-fashion website in 2009.[https://www.investegate.co.uk/announcement/rns/next--nxt/acquisition-of-lipsy-limited/1581827][https://www.marketingweek.com/next-to-launch-dedicated-brand-website-label/] In the early 2020s it entered another expansion phase through brand and platform deals, including investments in Reiss and transactions involving Joules, Made.com, Cath Kidston and FatFace.[https://www.nextplc.co.uk/about-next/our-history]\n[P-b7506f5798804cc2889490079a0a55d0][https://theindustry.beauty/in-history-a-timeline-of-next-marking-40-years-of-british-fashion-icon/][http://www.fashionencyclopedia.com/Mu-Pi/Next-Plc.html][https://www.nextplc.co.uk/about-next/our-board][https://www.investegate.co.uk/announcement/rns/next--nxt/acquisition-of-lipsy-limited/1581827][https://www.marketingweek.com/next-to-launch-dedicated-brand-website-label/][https://www.nextplc.co.uk/about-next/our-history]", "updatedAt": "2026-03-19T21:05:11.900804Z" } ], "sources": [ { "id": "https://www.nextplc.co.uk/~/media/Files/N/next-plc-v4/about-next/business-model-2025.pdf", "href": "https://www.nextplc.co.uk/~/media/Files/N/next-plc-v4/about-next/business-model-2025.pdf", "label": "www.nextplc.co.uk" }, { "id": "P-67b3d93e07e547d5b4fb2d916aaadd73", "href": "https://app.finbar.com/go?id=P-67b3d93e07e547d5b4fb2d916aaadd73", "label": "NEXT — Full financial report (2025 Y), p66", 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