In a major strategic move to boost its clothing business and compete with rivals like Next and M&S, John Lewis is launching 100 new menswear and womenswear brands in its stores.
This expansion includes high-end labels such as Mulberry, which will feature an exclusive collection of bags and accessories. Other new additions include brands like Akyn, By Malene Birger, and Iro. The retailer is also diversifying its offerings with specialized labels, such as Japanese camping wear brand Snowpeak and parkas from British designer Nigel Cabourn. This latest initiative builds on a previous expansion earlier this year, which saw 49 new fashion brands added for the spring/summer season. John Lewis currently stocks 650 clothing brands.
This fashion initiative is a key part of the company's wider $800 million turnaround program, which also involves store renovations and hiring more staff. The overhaul is being led by Peter Ruis, who joined the company last year with over 30 years of fashion experience. Ruis's goal is to give customers even more reasons to shop in our brilliant stores and to more than double the retailer's clothing revenue from $1.2 billion to $2.5 billion.
While Next and M&S have grown their share of the clothing and footwear market over the past five years, John Lewis's market share has remained flat at 1.5 per cent. However, this new push comes at a opportune time, as M&S has recently been hit by a cyber attack that disrupted its online and click-and-collect services for weeks. According to Louise Deglise-Favre, Analyst, Global Data, this situation creates a clear opportunity for John Lewis to capture some of this lost spending.
In addition to the new brands, John Lewis is expanding its own-label lines, including its largest-ever cashmere collection this autumn, which is expected to boost cashmere sales by at least 20 per cent. According to Rachel Morgans, Fashion Director, John Lewis, the retailer is carefully curating a premium quality range and is focused on adding brands that appeal to their customers rather than simply ‘chasing numbers.’