Gordon Brothers, the parent company of Poundland, is close to finalising its purchase of British handbag brand Radley, possibly as early as today, Sky News reports.
Radley is seeking to sell its brand and intellectual property assets under a pre-pack administration deal, with FTI Consulting appointed as administrators, city sources told the publication. Existing retail operations are unlikely to be included, which could result in job losses, though the exact workforce size remains unclear.
Both NEXT and US-based Gordon Brothers were reportedly in discussions with advisers of Radley’s owner, the private equity firm Freshstream, about acquiring the brand and its intellectual property assets. For both parties, the move marks the latest step in a series of acquisitions.
Gordon Brothers bought upmarket British brand LK Bennett in January 2026, aiming to transition it to an “asset‑light model”. In 2025, it acquired value retailer Poundland, following the sale of Laura Ashley to Marquee Brands in January 2025.
Meanwhile, NEXT has acquired several high‑street favourites—including FatFace, Joules, Cath Kidston and Seraphine—focusing on brand and intellectual property rather than physical stores.
In March, Radley entered a strategic review following a challenging period under CEO Nick Vance’s three‑year transformation strategy.
Radley set out a plan to become “a modern British icon of accessible luxury” after its 2024 financial results. CEO Nick Vance noted that 2024 presented a tough global market, but the transformation was progressing well.
The brand is targeting growth by updating its proposition with a contemporary design ethos under its first Design Director, Fernando Soriano Iglesias, who joined from Parfois in January 2025 and brings experience from Loewe, Carolina Herrera and Calvin Klein.
In its latest financials to April 2025, Radley reported positive growth in DTC, digital, and licensing sales, while wholesale declined due to technology challenges and partners shifting to drop‑ship or marketplace models.
In November 2025, Vance detailed the brand’s transformation strategy in an interview, emphasizing the goal of creating “the world’s best £299 handbag.” Since taking over in 2024, his approach has led to a complete repositioning, distribution overhaul, significant tech investment, and the appointment of Iglesias as Design Director.
The brand’s Creative Director, Fernando Soriano Iglesias, recently spoke about his career beginnings in the fashion industry.
Founded by Australian designer Lowell Harder in the late 1990s, Radley began with a single stall at Camden Market in London.
