UK's Next plans takeover bid for Harvey Nichols, Sky News reports
Next's Potential Acquisition of Harvey Nichols
Takeover Bid Details
July 4 (Reuters) - British clothing retailer Next is preparing to launch a takeover bid for luxury department store chain Harvey Nichols, Sky News reported on Saturday.
Verification and Responses
Reuters could not immediately verify the report. Harvey Nichols declined to comment, while Next did not respond to requests for comment.
Status of the Bid
Next's plans are at a relatively early stage, the report added.
Background on Harvey Nichols
Founded in 1831, Harvey Nichols sells luxury wares from cosmetics and fashion brands to food and wine.
Context: Next's Recent Acquisitions
Russell & Bromley Deal
The report comes after Next acquired footwear brand Russell & Bromley through an insolvency process, paying £2.5 million ($3.3 million).
Exchange Rate Information
($1 = 0.7490 pounds)
Reporting Credits
(Reporting by Gnaneshwar Rajan in Bengaluru. Editing by Sharon Singleton and Mark Potter)
