His scholarship focuses on the secondary mortgage markets, predatory lending, and housing policy. He is a member of the American Law Institute and is a Fellow of the American College of Real Estate Lawyers and the American Bar Foundation. Professor Reiss is currently Chair of the New York City Rent Guidelines Board. He is actively involved within the Law School community, currently serving as Research Director of the Center for Urban Business Entrepreneurship (CUBE). He is the founding director of the Community Development Clinic and teaches property-related courses. The online platform sells Next as well as 700 other fashion, home and beauty brands, including Reiss.Professor Reiss concentrates on real estate finance and community development. and Ireland and an online presence in more than 70 countries. Next is based in Leicester, England and has 500 stores in the U.K. It has more than 257 points of sale in 14 countries across the U.K., U.S., EMEA and APAC regions. Reiss currently operates in 14 countries from 79 stores, 104 concessions and via wholesale and franchises. Next said the intention is for its infrastructure, online systems, warehousing, distribution assets and sourcing base to serve as a launch pad for Reiss’ growth plans, both in the U.K., and internationally. It will have its own independent board of directors and continue to be headquartered in London. Reiss will retain its management autonomy and creative independence. He had worked for Reiss for nearly three decades, serving 14 years on the board as group product director. It is anticipated Reiss will go live on Next’s Total Platform in February 2022.Īngelides was appointed CEO of Reiss in 2017 and will remain in that role. Next said that Total Platform will also provide warehousing and distribution services for Reiss’ retail, franchise, wholesale and concession businesses, all of which will continue to be operated by Reiss. and overseas, will be contracted to Next through Next’s Total Platform. Next has been rapidly building up its online platform, recently securing the licenses to distribute brands such as Victoria’s Secret and Laura Ashley homeware in the U.K.Īs part of the investment, Reiss’ websites and online operations, both in the U.K. All parties have declined to comment on the reported sale. Next had been an early suitor for Topshop, but dropped out of the race, and was also said to be interested in buying Thomas Pink, although it stepped away from that sale process, too.Īccording to unconfirmed media reports, former JD Sports executive Nick Preston has acquired Pink from LVMH Moët Hennessy Louis Vuitton, along with a group of North and South American investors. Next’s move follows a flurry of high street acquisitions earlier this year, with Boohoo buying Debenhams and retail brands in the Arcadia portfolio, and Asos snapping up Topshop and Topman. Next’s infrastructure will ensure Reiss is not only more efficient as a business, but more effective at serving its customers directly through Reiss stores, at and through its worldwide partners.” We are excited to see what can be achieved through the combination of Reiss’ exceptional product, marketing and brand building skills with Next’s Total Platform infrastructure.”Ĭhristos Angelides, Reiss CEO, said the new partnership will be “transformational for Reiss’ operational effectiveness. Simon Wolfson, Next’s chief executive officer, called Reiss “an outstanding brand with enormous potential and a first-class management team. 1, 2020, Reiss posted turnover of 227.4 million pounds through all its sales channels, an increase of 22 percent on the prior year. In May 2016, the private equity firm Warburg Pincus acquired a majority stake, with the Reiss family retaining a minority holding.
It produces and sells men’s and women’s clothing and accessories. Reiss was founded in 1971 by David Reiss, originally as a men’s wear brand. If exercised the new stake would take its holding to 51 percent. Under the terms of the agreement, Next has an option to acquire an additional 26 percent interest in Reiss at pre-agreed terms.
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