Next Plc - History

History

The company was founded by Joseph Hepworth in Leeds in 1864 as a tailor under the name of Joseph Hepworth & Son.

In 1982 Hepworth & Son acquired Kendall & Sons Ltd, a Leicester based rainwear and ladies fashion company from Combined English Stores. The intention was to redevelop the Kendall's stores as a womenswear chain of shops. Terence Conran, the designer, was Chairman of Hepworth's at this time and he recruited George Davies, who went on to become Chief Executive of Next.

The first Next shops opened on 12 February 1982, with the Kendall's conversion complete by the end of 1983.

Made chief executive in 1984, Davies then converted the 50 Hepworths stores to the Next format, extending the total concept look at the same time to cover menswear. This allowed the development mini department across the entire footprint, selling women's and men's and clothes. This was added to by the introduction of Next interiors to stores which were deemed in the "right demographical areas." In 1986, Davies moved the groups headquarters from Leeds to Leicester, to be closer to the main garment manufacturers. The groups name changed to Next plc.

In 1987, the group acquired Combined English Stores and the Grattan catalogue company. Extending first to introduce Next childrenswear, Davies then introduced the Next Directory.

By 1988, "after seven years of growth, Next had over- expanded suicidally" .. "some stores were not bringing in enough to pay the rent." Davies was sacked and the share price fell to 7p. Chairman Sir David Jones, accused him of being egotistical and taking Next to the verge of bankruptcy.

In 2008 Next bought the Lipsy brand for £17 million

In Autumn 2009, Next launched an online catalogue for the United States offering clothing, shoes and accessories for women, men and children.

In 2011 Next opens its current largest superstore in Shoreham By Sea the store was opened by Carol Smillie on its first day of trade.