NEXT, a retailer offering clothing, footwear, accessories, beauty and home products, agreed to acquire a 34% stake in Reiss, a fashion retailer, from Warburg Pincus, a private equity firm, for £128m. "Reiss has performed exceptionally well since we first invested in March 2021. This success has been driven by the strength of its brand, first class management and the benefits of Total Platform; we look forward to continuing to develop the business with Christos and the Reiss team. Warburg Pincus has been an excellent partner throughout the term of our investment and we have enjoyed working with them during the last two years," Simon Wolfson, NEXT CEO.