Princess Kate's favourite shoe brand, Russell & Bromley, faces the prospect of vanishing from British high streets after 150 years.
Next is pursuing a takeover that would acquire only the brand and intellectual property, potentially leaving 37 stores and more than 450 employees without a future.
The retail giant has partnered with Retail Realisation, a liquidation specialist with connections to Modella Capital, in its bid for the family-owned shoe and bag retailer.
Industry sources indicate Next's interest lies solely in the Russell & Bromley name rather than its physical store network or existing stock.
Princess Kate's favourite shoe brand at risk of vanishing from high street after £9million loss
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Should the deal proceed on these terms, the remaining shops would lose the right to trade under the Russell & Bromley brand, effectively ending the company's high street presence.
None of the parties involved have commented publicly on the proposed acquisition.
The brand counts the Princess of Wales among its most loyal customers, with Kate having worn Russell & Bromley footwear since Queen Elizabeth II's Diamond Jubilee in 2012.
For her first public appearance of 2026, the princess chose brown suede pinpoint pumps from the retailer, a pair she has owned since 2016.
Russell & Bromley faces the prospect of vanishing from British high streets
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Just two months earlier, in November 2025, Kate attended the Future Workforce Summit at London's Salesforce Tower wearing the brand's 'Blade 100' heels, which she first debuted in 2022.
Queen Camilla and Sophie, Duchess of Edinburgh, have also been frequent wearers of the label, often spotted in its signature "Dressage" knee-high boots.
Meghan Markle similarly favoured the brand during her time in the UK.
Russell & Bromley traces its origins to 1880, when George Bromley and Elizabeth Russell, both from shoemaking families, established their first shop in Eastbourne, East Sussex.
Princess Kate wearing Russell & Bromley heels on the Diamond Jubilee tour to Singapore in 2012
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The company has remained in family hands ever since, with Andrew Bromley now leading the business as the fifth generation to take charge.
Despite this heritage, the retailer has struggled financially in recent years, posting a £9million loss in 2024 and failing to turn a profit since 2019.
Last year, the company unveiled a five-year turnaround strategy dubbed 'Re Boot', which included plans for international expansion beginning in the Middle East.
In October, Mr Bromley stated: "Since the announcement earlier this year, we have made significant progress, positioning us well to build on our momentum and continue along our journey."
Princess Kate wearing Russell & Bromley heels last week at the Charing Cross Hospital
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Next has built a reputation as an aggressive acquirer of struggling British brands, having purchased Cath Kidston, Joules, Seraphine and Made.com in recent years.
The retailer is also reportedly eyeing a potential deal for LK Bennett, which faces administration for the second time in six years.
Under the proposed Russell & Bromley arrangement, Retail Realisation would oversee a fire sale of remaining stock while Next secures the brand name and website.
Retail Realisation forms part of the Hay Wain group, owned by Rcapital co-founder Jamie Constable, alongside Modella Capital.
Modella has recently acquired several high street names, including WHSmith's stores, Hobbycraft and Claire's, though both The Original Factory Shop and Claire's were placed into administration last week, putting approximately 2,500 jobs at risk.