NEXT, a retailer offering clothing, footwear, accessories, beauty and home products, agreed to acquire a 25% stake in Reiss, a fashion retailer, from Warburg Pincus, a private equity firm, for $59m. "Reiss is an outstanding brand with enormous potential and a first class management team. We are excited to see what can be achieved through the combination of Reiss's exceptional product, marketing and brand building skills with NEXT's Total Platform infrastructure," Simon Wolfson, NEXT CEO.