John Lewis has announced ambitious plans to expand its fashion sector, a move led by executive director Peter Ruis.
- Ruis identifies market consolidation as a key avenue for growth, with a focus on proving the brand’s relevance.
- John Lewis intends to elevate its premium assortments and convert existing customers towards fashion purchases.
- The company reintroduced its “Never Knowingly Undersold” pledge, now matching prices with major ecommerce platforms.
- Plans also include significant refurbishment of store estates, aiming to create flagship destinations.
In a bold strategic move, John Lewis aims to double its fashion business as articulated by the company’s executive director, Peter Ruis. During the Drapers Inner Circle Summit 2024, Ruis highlighted the consolidation in the market as a chance to grow and stressed the importance of the company proving its relevance. He remarked on the current state of Oxford Street, where only two department stores remain compared to five a decade ago. “You don’t grow unless you get out there and prove your relevance. We are growing and we expect to grow more aggressively [going forward],” Ruis stated.
John Lewis is set to upgrade its premium assortments with the intention of steering existing customers, who previously may have engaged with other products such as home appliances, towards fashion. Ruis emphasized that enhancing their existing clothing offerings does not entail moving away from high street brands. “The beauty of John Lewis is selling brands such as Mango and moving to Awake Mode,” he clarified.
Returning to John Lewis in January 2024 after roles at Anthropologie and Jigsaw, Ruis addressed the strategic rationale behind reinstating the “Never Knowingly Undersold” pledge. The pledge, which now includes price matching with platforms like Asos and Amazon, is seen as integral to the brand’s identity. “Every brand has its magic dust… John Lewis is nothing without Never Knowingly Undersold. It’s about staying true to your brand,” he commented. This move has resulted in increased sales, particularly in the tech, beauty, and fashion sectors.
Looking to the future, John Lewis has embarked on a major refurbishment plan to enhance its physical retail presence, which includes significant investment in the Peter Jones store on London’s Sloane Square. Ruis envisions transforming it into a world-class shopping destination that attracts visitors globally.
John Lewis’s bold plans signal a transformative phase aimed at redefining its position within the retail fashion sector.
