Reiss ( ) 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.
Reiss was founded by
David Reiss in 1971.
Its first store in London's
Bishopsgate
Bishopsgate was one of the eastern gates in London's former defensive wall. The gate's name is traditionally attributed to Earconwald, who was Bishop of London in the 7th century. It was first built in Roman times and marked the beginning o ...
sold men's suits. It began to sell women's clothes from 2000.
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. The brand was named Fashion Retailer of the Year in 2003 at the British Style Awards.
Reiss has seen a significant increase in the number of its stores to 160 outlets worldwide, including key stores in
Heathrow
Heathrow Airport , also colloquially known as London Heathrow Airport and named ''London Airport'' until 1966, is the primary and largest international airport serving London, the capital and most populous city of England and the United Kingdo ...
Terminal 5 and
Westfield London
Westfield London is a large shopping centre in White City, west London, England, developed by the Westfield Group at a cost of £1.6bn,
on a brownfield site formerly the home of the 1908 Franco-British Exhibition. The site is bounded by the ...
as well as over four dozen locations across the United States as of 2022. Reiss intends to eventually grow to 250 stores worldwide.
In April 2016, a 51% majority stake was sold to the American
private equity
Private equity (PE) is stock in a private company that does not offer stock to the general public; instead it is offered to specialized investment funds and limited partnerships that take an active role in the management and structuring of the co ...
firm
Warburg Pincus
Warburg Pincus LLC is a global private equity firm, headquartered in New York City, with offices in the United States, Europe, Brazil, China, Southeast Asia and India. Warburg has been a private equity investor since 1966. As of April 2024 the f ...
for £230 million.
In June 2021, British clothing retailer
Next
NeXT, Inc. (later NeXT Computer, Inc. and NeXT Software, Inc.) was an American technology company headquartered in Redwood City, California that specialized in computer workstations for higher education and business markets, and later develope ...
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. 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.
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.
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.
References
External links
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Clothing brands of the United Kingdom
Clothing companies established in 1971
Retail companies established in 1971
Warburg Pincus companies
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