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Next looking for higher target market



Next, the clothing retailer, is set to target wealthier shoppers and will soon be carrying £150 evening dresses and £300 suits, which is set to compete directly with the Autograph label at Marks & Spencer.
The usual prices for eveningwear at Next are below £80, but it is targeting premium products to be sold at prices that the group would previously have shied away from.

This plan has come about after the retailer reported a hike in profits for the first half.  It attributes this increase to it being prepared to take risks with its fashion lines.  The group has also adopted a new purchasing strategy of buying for all four seasons, rather than splitting their year into two as most other retailers do.  This allows them to have adequate clothing available for the different climactic conditions, particularly during the spring and autumn when the weather is unpredictable.

Next saw an increase of 19% to £324m in pre-tax profits for the six-month period to July.  It has outperformed competitors, such as M&S, and this can be attributed to the fast growth of its home shopping sector and overseas expansion.  Unfortunately, its shares closed 3% down at £69.60.

The company launched a website in China as the huge market is a good opportunity, however, there are many administrative and logistical hurdles to overcome.  



More about shopping malls in China



DAY BEFORE YESTERDAY, United Kingdom:
The new opening at Westfield aims to be a "Home" hub for customers.
Sep 19, 2018, Italy:
NEINVER expected to refurbish the Italian outlet center Vicolungo by spring 2019.
Sep 18, 2018, United Kingdom:
The shopping center is nearing the completion of a £28.5 million refurbishment programme.
Sep 12, 2018, Thailand:
Thailand's retail property developer launches the first "Luxury & Leisure" beach lifestyle shopping destination in Asia.
Sep 11, 2018, USA:
Real estate operators to create a state-of-the-art Premium Outlet center in Carson in LA County.
Sep 11, 2018, USA:
Bloomingdale's has unveiled a permanent popup The Carousel at select stores in New York and California.
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Charlotte Premium Outlets GLA:400 000 SF
ADDRESS: 5404 New Fashion Way Suite 100, Charlotte, NC 28278
USA . Charlotte
Charlotte Premium Outlets
Aviapark GLA:2 475 699 SF
ADDRESS: ul. Aviakonstruktora Mikoyana, 10
Russia . Moscow region
Aviapark
Designer Outlet Provence GLA:269 098 SF
ADDRESS: Mas de la Peronne, Miramas, France
France . Miramas
Designer Outlet Provence
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ADDRESS: Europaring 2334 Vösendorf
Austria . Vienna
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