This Christmas, as has been the case for many before, the undisputed champion of the high street was undoubtedly John Lewis. With most of the department store chain’s outlets across the country managing to break store records in the run up to Christmas Day, it is hardly surprising that bosses of the iconic British brand are earnestly examining growth options in order to capitalise on a consistently expanding customer base.
According to the retailer’s managing director Andy Street, the John Lewis Partnership intends to almost double its number of branches by 2024 with much of its focus taken up by expansion into prominent international markets. It is also looking into the creation of a French website in order to take advantage of significant consumer interest across the Channel.
Mr Street believes that incorporating existing strategies into the decade-long expansion drive will yield positive results, allowing the retailer to continue to expand within its key UK market.
He says; “JohnLewis.com being available internationally is established and we are going to go again in terms of a French website paying in Euros – that has appeared to be the most successful market for us.
“The other thing is that we have had great success with our wholesaling deal in Korea and we are looking now for ten more countries to do a similar wholesaling deal.”
Should these plans come to fruition – which, given John Lewis’ recent success seems likely– Mr Street believes that the department store group will own and operate 65 stores by 2023, up from the present 40. At least one of these additional stores is expected to be located overseas, contributing to the boost in annual revenues from the current £4 billion to £7 billion.
However, Mr Street was determined to emphasise the partnership’s commitment to UK trading. While expanding into overseas markets is undeniably attractive given the prominence of emerging economies in Asia, Mr Street claims that the UK will, for the foreseeable future anyway, be John Lewis’ top priority.
He continued; “It will still be predominantly a UK brand, let’s be clear about that.
“I think we will have moved from taking baby steps to slightly more grown up steps internationally.”
Cementing belief in this claim will be the fact that John Lewis intends to open two new stores in the UK this year; one based in York, and the other at Heathrow Airport. Showcasing its commitment to the UK in this way is especially important this year, as the retailer is currently planning celebrations for its 150th anniversary on the high street.
The occasion, which takes place in May, will see customers invited to a one-off event, the details of which are yet to be released. Staff members will also benefit from a celebratory event, while archived historical designs will be re-launched for a limited time to mark the milestone.
Do you think that a classically British brand such as John Lewis will experience the success it enjoys in the UK in an overseas market, or will international consumers fail to respond enthusiastically to the retailer’s presence?
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