Whatever Next? One of the UK’s largest clothing retailers is shrugging off its rather dull image and spreading its wings internationally, even as many high street rivals suffer.
You may think of Next as a place to buy reliable work clothes, a nice cushion or to kit out the kids – it is the UK’s biggest children’s clothing seller. However, it has quietly been morphing into something much bigger.
Its shop on London’s Oxford Street tells some of the story – it houses not only a giant kids clothing department, but a big men’s suiting section and womenswear. Many of the parents shopping there appear to be waiting for teenage daughters who are thronging the Victoria’s Secret section upstairs and the neighbouring Bath & Body Works and Gap stores.
We can expect to see an even broader range of labels appear within Next stores as, over the past five years, it has snapped up brands from Cath Kidston and FatFace to furniture group Made. It alsocontrols the UK rights to distribution of Victoria’s Secret, Bath & Body Works and Gap through joint ventures with their US parent groups. It is already selling these brands online.
Under its leader, Simon Wolfson, known for producing chunky financial reports that give his detailed views on the economy as well as the Next’s performance, the company has also taken majority stakes in the UK brands Reiss and Joules, as well as smaller investments in the sofa maker Swoon, outdoorwear brand Sealskinz and quirky homeware label Rockett St George. Next has also built a plethora of licence deals, including Ted Baker, AllSaints kids ranges and Laura Ashley homeware and fashion.
Last year sales of non-Next brands online in the UK topped £1bn, up from £434m five years ago and more than 40% of the business’s online sales. Overseas, non-Next products made up a fifth of the group’s £930m international sales last year.
Richard Chamberlain, a retail analyst at RBC Capital Markets, says that more effort on design, quality and marketing has also helped improve the appeal of the Next brand, and some of its smaller labels, overseas.
Last year the company booked £930m of sales overseas, more than double the figure in 2020. And last week, Next said a 39% surge in international sales was largely behind a much stronger than expected performance this summer and that the company now expects to make annual profits of £1.14bn – £30m more than expected.
Emily Salter, a lead retail analyst at GlobalData, says: “Next’s range of brands and price positions allows it to cater to a wide range of consumers, including those who are focusing more on quality and trading up.”
Next’s performance was helped by problems at its big rival Marks & Spencer, which was forced to close its online business for several weeks after an Easter cyberattack, and Next also cited an improvement in the flow of stock from its Asian suppliers compared with last year.
However, the figures indicate that Next was able to hold on to some of those new shoppers even when M&S reopened, and that it is gaining a new fanbase overseas.
It is not really about Next stores. In the past five years Next has closed about 40 stores, taking its total to 457 in the UK. It has switched to larger, better-located spots, and UK retail sales are at about the same level they were five years ago.
Sales of the Next brand continues to increase online, especially overseas, but that growth is being outpaced by its wholly owned, licensed and third party brands.
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Next has been able to sign up those brands after heavy investment in IT and logistics so that it can help operate websites and the delivery network required to make them fly.
Richard Lim, the chief executive of Retail Economics research firm, says: “Next is so far ahead of the curve in terms of its multi-channel offer it is leaving many competitors behind.”
That is partly down to history. Next, which was founded in 1982 after the men’s tailoring firm J Hepworth & Son bought up the Kendalls rainwear stores to create a womenswear chain, has been steeped in home delivery from its early days.
The Next Directory launched in 1988 to shake up the then fusty world of catalogue shopping, after the Hepworths bought the Grattan agency catalogue business.
By the noughties, when online shopping began to take off, Next had all the logistical systems already in place so that it could make the transition much more smoothly than rivals. It has often led the pace on quick delivery and uses its big network of stores to offer a cheap option for picking up and dropping off parcels – something online specialists such as Asos struggle with.
Chamberlain says Next’s strengths lie in its “its relatively fast, automated logistics and its well developed customer loyalty and analytics.”
Abu Dhabi-based investment firm Lunate has committed $1bn to a new investment platform launched by HPS Investment Partners, deepening its presence in global private markets.
The new vehicle, HPS Strategic Solutions Partners, will focus on privately negotiated equity and debt investments in large corporates across the U.S. and Europe, catering to rising demand for alternative and structured financing solutions.
The platform will be anchored by Lunate’s investment and will also open access to institutional investors in the Middle East, according to HPS.
HPS, which manages around $165bn in assets, was recently acquired by BlackRock in a $12bn all-stock deal, one of the largest transactions ever in the alternatives space. The partnership comes as BlackRock seeks to expand its private markets footprint globally through its newly acquired credit arm.
Lunate, managing $110bn in assets, has been aggressively scaling its exposure to alternative investments since its establishment in 2023 under the Abu Dhabi royal family’s investment network, led by Sheikh Tahnoon bin Zayed Al Nahyan.
The firm has recently anchored TPG’s sports investment fund, acquired a stake in Brevan Howard Asset Management, and joined Blackstone in a $5bn regional logistics platform. It also holds interests in major real estate assets, including Dubai’s largest office tower.
The HPS partnership represents another strategic step in Lunate’s efforts to build long-term collaborations with top-tier global managers and diversify across private equity, credit, and infrastructure.
As corporates increasingly turn to private capital for flexible, large-scale funding, the move positions both HPS and Lunate to capitalise on the growing convergence between private equity and private credit.
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The Oil and Gas Regulatory Authority (OGRA) has slashed the maximum price of liquefied petroleum gas (LPG) for November, citing a drop in international prices and a slightly stronger rupee.
Starting November 1, the maximum consumer price for an 11.8 kg LPG cylinder will be Rs. 2,378.89, down Rs. 69.44 (2.83%) from October’s price of Rs. 2,448.33.
The per kilogram price has dropped by Rs. 5.88.
OGRA said the cut follows a 3.52% decrease in the Saudi Aramco Contract Price (CP), which is used as a benchmark for local rates, and a 0.15% appreciation in the average dollar exchange rate.
Producer prices have also been reduced, with the notified rate for November set at Rs. 1,891.55 per 11.8 kg cylinder, compared to Rs. 1,960.99 last month.
A champagne industry body has written to the celebrity Delevingne sisters demanding they stop making references to the drink in the marketing of their vegan prosecco brand.
Della Vite, founded by Cara, Poppy and Chloe Delevingne, has been accused of exploiting the reputation of champagne, by Comité Champagne, the Times reported.
Della Vite marketing materials feature the slogan: “Cheat on champagne” and: “Warning: This is not champagne”.
It has emerged Della Vite received a letter from the industry body, which describes itself as “defending the joint interests of champagne houses and growers”, demanding they stop making reference to champagne in their marketing.
The sisters refused and the brand has continued with its campaign. Della Vite doubled down and shared a redacted image of the cease-and-desist letter on social media on Wednesday.
The caption read: “Love letter from our friends at Champagne. As Oscar Wilde once said, ‘The only thing worse than being talked about is not being talked about.’ Salute!”
Poppy Delevingne, 39, an actor and model, told The Times the campaign was meant to be “fun, cheeky and a little provocative” and they “genuinely didn’t think we’d done anything wrong”.
She added: “The severity of the response was unexpected, but we were also pleased to see the campaign making an impact and getting noticed.”
In the letter, which has been seen by the Times, the Comité Champagne wrote: “Any use of the internationally renowned name ‘champagne’ other than in reference to the sparkling wines entitled to this appellation constitutes an unfair exploitation of its reputation.
“Moreover, such misuse risks tarnishing the name and damaging the goodwill associated with the champagne destination.”
Numa Heathcote, chief executive and co-founder of Della Vite, told the newspaper: “We see this reaction as proof that modern challenger sparkling brands are reshaping the conversation around quality. If the established champagne world feels a little unsettled, it’s because a new generation of drinkers is defining luxury on its own terms and brands like Della Vite are part of that shift.”
Della Vite was founded by the Delevingne sisters in 2020.
Della Vite and Comité Champagne have been contacted for comment.
Hyundai Motor Group and NVIDIA will collaborate with the Korean government to develop Korea’s physical AI industry, including the establishment of an AI application center and AI technology center, while nurturing local AI talent to build a vibrant innovation ecosystem
Hyundai Motor Group is building an AI factory with NVIDIA to accelerate model training, validation and deployment for in-vehicle AI, autonomous driving, smart factories and robotics
Hyundai Motor Group is beginning to leverage NVIDIA Omniverse and Cosmos running on NVIDIA RTX PRO Servers to develop car factory digital twins and robots
With NVIDIA Nemotron open models and NVIDIA NeMo tools, Hyundai Motor Group is speeding proprietary LLM and AI development
Using NVIDIA DRIVE AGX Thor, running on the safety-certified DriveOS operating system, Hyundai Motor Group is expecting to deliver advanced driver assistance systems, next-generation safety features and in-vehicle intelligence for mobility solutions
GYEONGJU, South Korea, Oct. 31, 2025 /PRNewswire/ — Hyundai Motor Group and NVIDIA today announced they are deepening their collaboration to accelerate innovation in autonomous vehicles (AVs), smart factories and robotics with a new AI factory, powered by NVIDIA Blackwell AI infrastructure
Building on their previous work together , Hyundai Motor Group and NVIDIA are now entering a new phase of collaboration, shifting from strategic adoption of advanced software platforms and infrastructure to joint innovation of core physical AI technologies. Together, they will co-develop AI capabilities for mobility solutions, next-generation smart factories, and on-device semiconductor advancements to strengthen Hyundai Motor Group’s future capabilities.
As part of this endeavor, Hyundai Motor Group and NVIDIA aim to enable integrated AI model training, validation and deployment using 50,000 NVIDIA Blackwell GPUs.
In addition, in support of the Korean government’s initiative to build a national physical AI cluster, Hyundai Motor Group and NVIDIA will work closely with government stakeholders to accelerate ecosystem development. This will result in an approximately $3 billion investment to advance the physical AI landscape in Korea.
Key efforts include the establishment of Hyundai Motor Group’s Physical AI Application Center, NVIDIA AI Technology Center, and physical AI data centers in the region. To formalize this collaboration, the Ministry of Science and ICT of the Republic of Korea, Hyundai Motor Group, and NVIDIA signed a Memorandum of Understanding on October 31. This collaboration will also foster dynamic exchanges with NVIDIA’s world-class engineers and technicians, helping to cultivate Korea’s next generation of physical AI talent.
“For Korea to leap forward as a leading nation in AI, the advancement of physical AI is essential – a key initiative championed by the Ministry of Science and ICT. This inaugural step in public-private collaboration to foster physical AI is therefore incredibly significant,” said Bae Kyung-hoon, Deputy Prime Minister and Minister of Science and ICT of the Republic of Korea. “Korea has a strong foundation in manufacturing. By combining Korea’s rich manufacturing data with NVIDIA’s cutting-edge AI infrastructure, we expect to build a Win-Win model through collaboration with domestic companies, thereby accelerating innovative AI transformation (AX) in manufacturing across industries,” he emphasized.
“As we enter a new era of AI-powered mobility and smart factory, deepening our collaboration with NVIDIA marks a pivotal step forward,” said Euisun Chung, Executive Chair of Hyundai Motor Group. “Together, we are not only building advanced technologies but also laying the foundation for a robust AI ecosystem in Korea—one that fosters innovation, nurtures talent, and positions us at the forefront of global AI leadership.”
“AI will revolutionize every facet of every industry. In transportation alone — from vehicle design and manufacturing to robotics and autonomous driving — NVIDIA’s AI and computing platforms are transforming how the world moves,” said Jensen Huang, founder and CEO of NVIDIA. “Together with Hyundai Motor Group — Korea’s industrial powerhouse and one of the world’s top mobility solutions providers— we’re building intelligent cars and factories that will shape the future of the multitrillion-dollar mobility industry.”
Hyundai Motor Group Advances Automotive with NVIDIA AI Factory
With its NVIDIA Blackwell-based AI factory, Hyundai Motor Group will deploy essential infrastructure for powering every phase of innovation — bringing together in-vehicle AI, autonomous driving, factory automation and robotics into one intelligent, interconnected ecosystem.
Hyundai Motor Group is using the three NVIDIA AI compute platforms that serve as the infrastructure for physical AI and robotics:
Together, these computing platforms form the backbone of AI and car factories, enabling the transportation industry to develop, validate and deploy advanced physical AI at scale.
Building Smart Factories and Safe Cars of the Future
As part of the expanded collaboration, unveiled earlier this year, Hyundai Motor Group will use the NVIDIA Omniverse Enterprise platform to develop robust factory digital twins — virtual replicas of manufacturing environments that unify and manage factory data — as well as enable precision control, software- and hardware-in-the-loop validation, discrete event simulation and virtual commissioning.
These physically accurate digital environments accelerate robot integration, optimize production, enable predictive maintenance and pave the way for fully autonomous, software-defined factories — reshaping how vehicles are designed and manufactured.
Omniverse Enterprise also extends to humanoid and robotic systems using NVIDIA Isaac Sim—an open robotics reference framework built on NVIDIA Omniverse. This allows virtual validation of task assignments, motion planning and ergonomic safety before robot deployment on physical production lines, significantly accelerating robot integration and maximizing productivity.
Hyundai Motor Group is also testing the use of NVIDIA Omniverse and Cosmos platforms on NVIDIA RTX PRO Servers (with NVIDIA RTX PRO 6000 Blackwell Server Edition GPUs) to build digital twins of regional driving environments and conditions, incorporating extensive simulations to advance its development pipeline. These sophisticated capabilities place Hyundai Motor Group at the forefront of scalable, next-generation autonomous driving.
Advanced AI models — built with NVIDIA Nemotron open AI reasoning models and NVIDIA NeMo software could enable over‑the‑air updates of capabilities and features across vehicles. In addition to autonomy capabilities, Hyundai Motor Group will cooperate on these advanced models to develop a range of innovative in‑vehicle AI features, from personalized digital assistants to intelligent infotainment and adaptive comfort systems, powered by these advanced models. This transforms vehicles into continuously learning, evolving intelligent agents.
Inside the vehicle, NVIDIA DRIVE AGX Thor, accelerated compute running on safety-certified DriveOS operating system, is set to provide the AI compute power for advanced driver-assistance and next-generation safety features, as well as immersive in-vehicle AI experiences.
With NVIDIA, Hyundai Motor Group is evolving its vehicles and factories from independent systems into a single, interconnected and intelligent ecosystem, setting a new standard for the future of the global automotive industry.
About Hyundai Motor Group
Hyundai Motor Group is a global enterprise that has created a value chain based on mobility, steel, and construction, as well as logistics, finance, IT, and service. With about 250,000 employees worldwide, the Group’s mobility brands include Hyundai, Kia, and Genesis. Armed with creative thinking, cooperative communication, and the will to take on any challenges, we strive to create a better future for all.
More information about Hyundai Motor Group can be found at: http://www.hyundaimotorgroup.com or Newsroom: Media Hub by Hyundai, Kia Global Media Center (kianewscenter.com), Genesis Newsroom
MILAN, Oct 31 (Reuters) – Italy’s government and Pirelli (PIRC.MI), opens new tab shareholders are on the right track to find a solution to issues created by having China’s Sinochem (600500.SS), opens new tab as the tyremaker’s largest shareholder, Industry Minister Adolfo Urso said on Friday as he visited a company facility in Milan.
Pirelli’s Italian investor Camfin has complained that Sinochem’s presence is hindering its expansion plans in the United States, as Washington tightens restrictions on Chinese technology in the automotive sector.
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The key issue relates to Pirelli’s so-called Cyber Tyres, which are fitted with a technology to collect data during motion and transfer the information in real time to the vehicle.
GOVERNMENT WILL PLAY ITS PART IN FINDING SOLUTION
“We know we are on the right track, and everyone is aware that we need to find the best solution to ensure the development of this cutting-edge technology worldwide and, therefore, of this company,” Urso said at the end of his visit.
“I think we will be in a position, (shareholders) will be in a position, to achieve this goal because the government will obviously play its part to the full,” Urso said.
He was accompanied on the visit by Marco Tronchetti Provera, the Italian businessman who has led Pirelli since 1992 and is now its executive vice-chairman, and by CEO Andrea Casaluci.
Asked whether it was realistic to expect an accord for Pirelli’s governance by the spring of next year, when the company is due to renew its board, Urso said he was confident “a desirable solution will arrive in time for the company to finally be able to operate fully in the most significant and promising markets, starting with the American one”.
“It’s shareholders who will find the right solution. We have created the conditions for this to happen,” he added.
After the government last month ruled Sinochem was not breaching rules meant to protect Pirelli’s autonomy, the Chinese state-backed group opened up to a possible sale of its Pirelli stake, or part of it, if an offer came with a premium, sources have told Reuters.
Reporting by Giulio Piovaccari; Writing by Sara Rossi and Giulio Piovaccari; Editing by Alvise Armellini and David Holmes
Our Standards: The Thomson Reuters Trust Principles., opens new tab
