The Business – What does it do?
Next is a UK retailer with a focus on clothing and homeware. It has both an online and offline presence with over 500 stores across the country. But its activities aren’t just restricted to Britain. Next serves over 1.5 million international customers through a network of 190 franchised stores in 36 different countries.
The firm sells its own branded clothes. This includes Lipsy, a brand targeted at a younger female demographic. However, Next also has its LABEL segment that offers thousands of third-party brands that give customers a pretty substantial choice of fashion.
To keep the more expensive items affordable for customers, management introduced a credit platform called NextPay and a buy-now-pay-later solution called Next3Step. Individuals can buy products over time rather than upfront, a bit like a credit card. And so far has proven to be immensely popular, with over £1.2bn of credit being issued.
|Cog Score:||🔒 / 100|
|Last Updated:||8th Nov 2021|
|Date Added:||8th Nov 2021|
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