Next chief Lord Wolfson appointed chairman of upmarket clothing brand Reiss
Next boss Lord Wolfson will become chairman of Reiss two months after his FTSE100 retailer bought a stake in the brand.
The 52-year-old will replace David Reiss, who opened the first shop in London’s Bishopsgate in 1971.
The appointment reunites Wolfson with Reiss chief executive Christos Angelides, who worked for Next for 28 years before leaving in 2016.
New role: Next boss Lord Wolfson will replace David Reiss, who opened the first shop in London’s Bishopsgate in 1971
It is also just Wolfson’s second external directorship in 30 years, coming hot on the heels of his appointment to the board of Deliveroo in January.
In March Next bought a 25 per cent stake in upmarket Reiss for £33million.
It lent a further £10million to help Reiss recover from the pandemic, and also has the option to buy an additional 26 per cent for a slightly higher price before July 2022, which would give it a controlling stake.
The Duchess of Cambridge wore a white £159 Reiss dress for her official engagement portrait in 2010, sending the brand to ‘stratospheric’ new heights.
It now operates from 183 stores and concessions in 14 countries.