John Lewis is strategically positioning itself to expand its fashion sector amidst evolving market landscapes.
- Peter Ruis, executive director, has expressed ambitions to double the fashion segment by seizing market consolidation opportunities.
- Embracing the idea of premium assortments, the focus is on converting existing customers into fashion consumers.
- The ‘Never Knowingly Undersold’ pledge is being adapted to align with modern ecommerce competitors like Asos and Amazon.
- Significant investment is planned for refurbishing key stores, including the iconic Peter Jones store.
John Lewis is actively seeking to amplify its presence in the fashion industry, with executive director Peter Ruis at the helm. During the Drapers Inner Circle Summit 2024, Ruis articulated a clear strategy to double the fashion business, focusing on seizing opportunities presented by market consolidation. He highlighted the shift from when Oxford Street housed five department stores to just two now, indicating a favourable environment for John Lewis to expand its relevance.
Ruis aims to elevate the department store’s offerings by enhancing premium assortments. The objective is clear: translate the interest of regular customers, typically purchasing home appliances, into engagement with their fashion collections. This strategic move does not entail a departure from high street brands but rather an inclusion of diverse selections such as those from Mango and awake Mode, reflecting the versatility and dynamism of John Lewis’ fashion range.
Instrumental to this approach is the reinvigoration of the ‘Never Knowingly Undersold’ pledge, now encompassing a competitive price-matching scheme with online giants Asos and Amazon. Ruis views this as integral to maintaining the essence of the John Lewis brand, akin to the iconic status of Burberry’s check pattern. The initiative has already recorded substantial sales increases, particularly within technology, beauty, and fashion categories.
In a bid to upgrade the customer experience, John Lewis is channeling considerable investments into refurbishing its stores over the coming decade. A focal point of this plan is the Peter Jones store on Sloane Square, envisioned as a world-class retail destination. This refurbishment underscores a commitment to enhancing physical retail spaces, ensuring they remain attractive and relevant in a digital age.
John Lewis is poised to redefine its place in the fashion industry, driven by strategic growth initiatives and a commitment to maintaining brand identity.
