John Lewis Boss Hints at Department Store Revival with £800m Investment
The traditional department store may be seen as a relic of the past, but for John Lewis managing director Peter Ruis, it's an industry ripe for reinvention. Following the closure of several high-street rivals, Ruis is pouring £800m into revamping his 36 remaining stores by 2029.
Since returning to lead the revival last year, Ruis has emphasized the importance of modernizing the store experience. Gone are the days of a stuffy, linear shopping environment. Instead, customers will find an experiential retail space that seamlessly blends browsing and discovery, with new brands and products showcased across multiple departments.
A key part of this overhaul is creating 'lifestyle' zones within each store, where items like puzzles, mugs, bicycles, perfume, and vases are gathered under one roof. This approach allows customers to more easily find what they're looking for, mirroring the convenience of online shopping but avoiding the pitfalls of browsing through endless product feeds.
The strategy is also focused on appealing to a younger demographic, with Ruis noting that John Lewis needs to connect with Gen Z and millennials in order to stay relevant. To this end, the company has partnered with popular brands like Topshop, Carhartt, and Charlotte Tilbury, as well as Apple and Waterstones bookshops.
Innovative services like Uber Eats integration are also being explored, where customers can order products online for delivery within a 45-minute window. This is set to be rolled out in select stores, with Ruis stating that the aim is to create a "day out" experience with a modern twist – whether that's browsing online items in-store or enjoying food and drink at one of several cafes.
With its employee-owned model providing financial security and long-term stability, Ruis believes John Lewis is uniquely positioned to weather the retail storm. The company has seen a £10m profit for the year to January, with plans to expand on this success as it takes on new brands and continues to innovate.
The traditional department store may be seen as a relic of the past, but for John Lewis managing director Peter Ruis, it's an industry ripe for reinvention. Following the closure of several high-street rivals, Ruis is pouring £800m into revamping his 36 remaining stores by 2029.
Since returning to lead the revival last year, Ruis has emphasized the importance of modernizing the store experience. Gone are the days of a stuffy, linear shopping environment. Instead, customers will find an experiential retail space that seamlessly blends browsing and discovery, with new brands and products showcased across multiple departments.
A key part of this overhaul is creating 'lifestyle' zones within each store, where items like puzzles, mugs, bicycles, perfume, and vases are gathered under one roof. This approach allows customers to more easily find what they're looking for, mirroring the convenience of online shopping but avoiding the pitfalls of browsing through endless product feeds.
The strategy is also focused on appealing to a younger demographic, with Ruis noting that John Lewis needs to connect with Gen Z and millennials in order to stay relevant. To this end, the company has partnered with popular brands like Topshop, Carhartt, and Charlotte Tilbury, as well as Apple and Waterstones bookshops.
Innovative services like Uber Eats integration are also being explored, where customers can order products online for delivery within a 45-minute window. This is set to be rolled out in select stores, with Ruis stating that the aim is to create a "day out" experience with a modern twist – whether that's browsing online items in-store or enjoying food and drink at one of several cafes.
With its employee-owned model providing financial security and long-term stability, Ruis believes John Lewis is uniquely positioned to weather the retail storm. The company has seen a £10m profit for the year to January, with plans to expand on this success as it takes on new brands and continues to innovate.