July 4 (Reuters) – British clothing retailer Next is preparing to launch a takeover bid for luxury department store chain Harvey Nichols, Sky News reported on Saturday.
Reuters could not immediately verify the report. Harvey Nichols declined to comment, while Next did not respond to requests for comment.
Next’s plans are at a relatively early stage, the report added.
Founded in 1831, Harvey Nichols sells luxury wares from cosmetics and fashion brands to food and wine.
The report comes after Next acquired footwear brand Russell & Bromley through an insolvency process, paying £2.5 million ($3.3 million).
($1 = 0.7490 pounds)
(Reporting by Gnaneshwar Rajan in Bengaluru. Editing by Sharon Singleton and Mark Potter)