// John Lewis is stepping on “precarious grounds” in its hunt to return to stable footing, claims leading retail consultant Mary Portas
// She said the Partnerships recent cost-saving initiatives were “chipping away” at the trust among shoppers
Mary Portas has warned John Lewis is stepping on “precarious grounds” amid reports boss Sharon White is exploring a sale of a stake in the mutual Partnership.
The leading retail guru said the retailer’s efforts to curb rising costs have slowly been “chipping away” at the trust among shoppers.
“When you take away ‘Never Knowingly Undersold’ – which all of us knew instantly it meant ‘we’re trying our best here’ – because you’re scared and worried people are coming in and going ‘I can buy it online cheaper’, that’s what we remember,” she told the audience at the 2023 Retail Technology show.
“We came in there for all the other things that went with it,” she explained, commenting on how John Lewis had built its reputation on serving its customers.
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“When you take away the free coffee or free weekly newspapers, you chip and you ebb away at the soul of a trust and kindness and care for your people.”
“When you go out and say, we are thinking of selling some of the partner’s shares to bring
in investors you really are starting to be on more precarious grounds.”
Last month, The Times reported that White was exploring the possibility of changing the retailer’s partnership structure in a bid to raise between £1bn and £2bn after it swung a £234m loss.
On Thursday, John Lewis Partnership wrote to customers informing them that it would be shutting down its broadband services after 10 years as it looks to target £900m cost-savings by 2026.
“My worry with the brand is that it is going down the route of operations, and not going down the route of people and understanding what we need to society in the future,” Portas said, commenting on the direction of the retailer’s cost-saving measures.
“It would be a deeply sad day if we lost what is still an incredible jewel in the retail landscape.”
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