British clothing retailer Next is reportedly gearing up to make a takeover offer for the upscale department store chain Harvey Nichols, according to a report from Sky News published Saturday.
Reuters was unable to independently confirm the report, and neither Next nor Harvey Nichols responded to requests for comment.
According to Sky News, the potential acquisition is still in its early stages.
Harvey Nichols, which was established in 1831, carries a wide range of high-end products including cosmetics, fashion, food, and wine, as listed on its website.
The news comes on the heels of Next’s recent acquisition of footwear brand Russell & Bromley through an insolvency process, a deal that cost the retailer 2.5 million pounds, equivalent to approximately $3.34 million.
