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Company: Next Plc

Brand value: US$2,814 million

Change since 2018: 4%

Headquarter city: Leicester

Industry: Apparel

Year formed: 1982

Next is a chain of stores offering fashionable and widely affordable clothing and homeware. The business is adapting to shifting consumer shopping habits, moving away from its traditional catalogue-based sales to focus on its online and in-store services. Next has recently partnered with Amazon to turn its stores into pick-up points for Amazon parcels to open up a new income stream. The brand is making significant changes to the way it markets to consumers, slashing investment in print, TV and direct mail by half as it builds on “impressive” results from digital marketing, particularly mobile. Next has announced plans to raise its digital marketing spend from £12 million in 2018 to £28 million in 2019. Sales in the first quarter of this year were better than expected, after an unseasonably warm Easter holiday period – particularly compared to a wet and cool Easter last year – gave a boost to in-store sales. There are more than 500 Next branches in the UK and Ireland, and a further 200 in 40 other countries around the world.