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

Virtual Data Rooms Unveiled: How They Revolutionize Secure...

August 22, 2024

How Do Law Firms Improve Their Online Visibility?

April 18, 2024

A Conversation with Seton Noble on Ambition, Impact,...

September 17, 2024

UK business confidence recovers but dark clouds on...

May 2, 2023

Pub bodies warn of ‘Worse than the pandemic...

April 4, 2023

UK needs almost a million new trades people

February 9, 2023

Gambling and Corporate Social Responsibility: Best Practices for...

April 18, 2024

Are Vapes Still Trending in 2025?

April 5, 2025

Taylor Swift ticket prices plummet by 90% in...

August 14, 2024

The Top 7 Ways to Travel Europe on...

July 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

    • Trump opens door to 600,000 Chinese students amid Beijing trade talks

      August 26, 2025
    • Epstein estate hit with new House subpoena for ‘client list,’ call logs

      August 25, 2025
    • Trump’s Blast of Hot Air on Flag Burning

      August 25, 2025
    • The AI Action Plan: The Risks of Federal Ideological Bias Action

      August 25, 2025
    • Bolton unleashes on Trump Ukraine policy days after FBI raid

      August 25, 2025
    • Trump threatens lawsuit over century-old Senate tradition delaying his nominees

      August 25, 2025

    Categories

    • Business (8,876)
    • Investing (2,239)
    • Politics (16,487)
    • Stocks (3,228)
    • 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