Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

John Lewis recruits Stanley Tucci to revamp homeware range in bid to outshine Marks & Spencer

by July 22, 2024
July 22, 2024
John Lewis recruits Stanley Tucci to revamp homeware range in bid to outshine Marks & Spencer

John Lewis is set to unveil a wide array of new homeware brands, including a line of pots and pans by actor Stanley Tucci, in a strategic move to rejuvenate its retail offerings and attract middle-class shoppers from rival Marks & Spencer.

The renowned department store plans to introduce 36 new lighting, kitchenware, and furniture brands this September, adding to the 130 new homeware brands it has launched over the past year. This expansion will result in a 15% increase in John Lewis’s homeware, furniture, and lighting range compared to last summer.

Camilla Rowe, head of the home division at John Lewis, highlighted the company’s efforts to revitalise its product range, aiming for significant business growth. This initiative is part of John Lewis Partnership’s broader strategy to reclaim customers from Marks & Spencer, which has been successful in drawing supermarket shoppers away from John Lewis-owned Waitrose.

While M&S is renowned for its clothing and food, it also offers home goods, including kitchen equipment and lighting. Historically, John Lewis has held a stronger position in this sector, capturing around 4% of the home market compared to M&S’s 1.5%, according to industry group GlobalData.

This expansion is seen as a strategic effort by John Lewis to leverage its market advantage, reviving its department stores and continuing its turnaround. Peter Ruis, who joined John Lewis in January as executive director, is leading this push. Ruis has been focusing on enhancing customer service, including increasing shop floor staff, and identifying homeware as a key growth area.

As part of this initiative, John Lewis is significantly boosting its selection of own-brand sofas, introducing 12 new designs in what is its largest investment in the category in a decade. This move contrasts with M&S’s recent decision to scale back its range of large own-brand furniture.

Additionally, John Lewis plans to invest in updating homeware concession stands and fixtures, with around 180 improvements across its homeware departments, including 150 updates this year. This includes the installation of more “shop within a shop” concepts, dedicating space to specific brands.

The scale of investment in this homeware overhaul is considerable. John Lewis is reportedly spending nearly £1 million to refurbish the home department at its flagship Oxford Street store in London.

Improving its department stores is crucial to John Lewis Partnership’s turnaround efforts. In February, the company reported a pre-tax profit of £56 million for the year ending January, a significant improvement from the £234 million loss the previous year, marking its first annual profit since the pandemic.

Read more:
John Lewis recruits Stanley Tucci to revamp homeware range in bid to outshine Marks & Spencer

0
FacebookTwitterGoogle +Pinterest
previous post
Businesses rush to sell ahead of potential Labour tax hikes
next post
Business and Trade secretary unveils £103M investment for greener air travel at Farnborough Airshow

You may also like

Gatwick sees 7.7% passenger increase as short-haul demand...

August 23, 2024

Prime Minister calls for UK to act as...

June 1, 2023

Always Learning: How Dr. Thomas John Byrne Stays...

June 4, 2025

Average British House Price Reaches Record High of...

May 20, 2024

UK Export Finance Vows Fivefold Rise in SME...

May 3, 2024

Unions seek £200m from ministers to safeguard Scunthorpe...

February 20, 2025

Joules on brink of collapse as it enters...

November 14, 2022

Secrets of UX/UI for Analytical Dashboards: What to...

December 20, 2024

What Could VR Do For Casino Business

August 16, 2022

Treasury announces date of next Budget

December 29, 2022

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Americans found to have increasing appetite for active US global leadership, led by MAGA Republicans: Report

      June 22, 2025
    • Pro-life movement confronts high abortion rates three years after Dobbs

      June 22, 2025
    • ‘Baby steps’: Leader Thune details his work to corral Republicans behind Trump’s legislative vision

      June 22, 2025
    • US Strikes Iran: What Comes Next For Stocks?

      June 22, 2025
    • Expert confident Iran’s nuclear program is ‘no longer’ after massive US strike

      June 22, 2025
    • Fetterman backs Trump after Iran strikes: ‘The correct move’

      June 22, 2025

    Categories

    • Business (8,277)
    • Investing (2,059)
    • Politics (15,742)
    • Stocks (3,160)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved