Reiss (brand)

English fashion brand

Reiss

Company type| Private
Industry| Fashion
Founded| 1971; 54 years ago (1971)
Headquarters|

London

England

Number of locations

| 160

Key people

| David Reiss (founder)
Products| Clothing
Revenue| £146 million (2016)

Operating income

| £24.4 million (2016)
Owner| Next plc 72% | Reiss Family 22% | Reiss Management 6%
Website| www.reiss.com
Reiss in Victoria Quarter in Leeds

Reiss (/riːs/ Reess) is an English fashion brand and retail store chain. The brand produces men's and women's clothing. It has 160 stores in 15 countries.[1]

Reiss was founded by David Reiss in 1971.[2] Its first store in London's Bishopsgate sold men's suits. It began to sell women's clothes from 2000.[1]

The Reiss flagship store and headquarters in London, designed by Squire and Partners, has won several awards including the RIBA Award, the BCO Award and the Civic Trust Award.[3] The brand was named Fashion Retailer of the Year in 2003 at the British Style Awards.[4]

Reiss has seen a significant increase in the number of its stores to 160 outlets worldwide, including key stores in Heathrow Terminal 5 and Westfield London as well as over four dozen locations across the United States as of 2022.[5] Reiss intends to eventually grow to 250 stores worldwide.[6]

In April 2016, a 51% majority stake was sold to the American private equity firm Warburg Pincus for £230 million.[1]

In June 2021, British clothing retailer Next agreed to buy a 25 percent stake in Reiss from both Warburg Pincus and the Reiss Family for £33 million, and also make a debt investment of £10 million, financed from cash resources.[7] Following the purchase Next announced their intention to integrate Reiss's e-commerce solutions into the Next Total Platform, allowing for cross channel sales on both next.com and reiss.com.[8]

In June 2022, Next increased their share of ownership in the brand to 51%, taking over majority ownership from Warburg Pincus.

In June 2023, it was reported that Next and Warburg Pincus were in talks to sell their controlling stakes in the business.[9]

In September 2023, Next plc announced that it had agreed to acquire the entirety of Warburg Pincus's 34% interest in the Reiss Group for total consideration of £128m. Upon completion of the transaction, expected to take place in mid-October 2023, Next PLC's holding in the Reiss business will increase from 51% to 72%. The Reiss family's holding will increase to 22% and the Reiss management team will hold 6% equity in the business. [10]

## References

[edit]

1. ^ a b c Wood, Zoe (13 April 2016). "Reiss sold to US private equity firm". The Guardian.
2. ^ "Why Reiss is not for sale". Telegraph.co.uk. London: The Daily Telegraph. 30 July 2006. Retrieved 14 April 2025.
3. ^ "Reiss wins RIBA and BCO Award". Buro Four. 1 May 2009. Archived from the original on 17 October 2010. Retrieved 17 October 2010.
4. ^ Dong, Elaine (27 April 2008). "Reiss arrives". The Star. Archived from the original on 4 June 2011. Retrieved 25 August 2011.
5. ^ "David Reiss, Managing director, Reiss". 12 December 2008.
6. ^ "International Stores". Reiss.
7. ^ "Next Buys 25% Stake in Reiss". The Business of Fashion. 10 March 2021. Retrieved 17 August 2023.
8. ^ Tugby, Luke (16 February 2022). "Reiss overhauls online fulfilment offer as it launches on Next Total Platform". Retail Week. Retrieved 17 August 2023.
9. ^ "Next and Warburg Pincus in talks about £500m Reiss sale". Sky News. Retrieved 17 August 2023.
10. ^ "Acquisition of Warburg Pincus' Interest in Reiss". investis.com. Next plc. Retrieved 1 September 2023.

## External links

[edit]

* Official website

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