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It was announced last month that the John Lewis Partnership (JLP) has now taken the top spot of the UK’s best performing mutual, previously held by the Co-op Group. Employee-owned John Lewis is now the biggest member-run organisation, after The Co-operative Group fell down the rankings.
The John Lewis Partnership had a turnover of £10.9bn with 93,800 members in 2015, according to a report published by industry body Co-operatives UK. The Co-operative Group came in a close second having reported £10.81bn in turnover.
John Lewis continues to remain a strong leader in the retailing industry and provides continual investment in its staff and members for the long term. A strategy that was demonstrated earlier this year when JLP announced a change to the structure in its buying team, amid wider changes to its strategy following the appointment of Ed Connolly as fashion buying director in June 2014.
Not only is it re-evaluating its strategy but the business continues to innovate. Earlier this year, John Lewis launched its tech start up accelerator ‘JLAB’, to identify and develop products and services that will shape the retail experience of the future.
Run in association with technology entrepreneur Stuart Marks’ investment fund, L Marks, JLAB will offer funding and office space to up to 10 start-up businesses. At the end of the programme later this year, the winner will receive a contract to trial their innovation in John Lewis stores, and up to £100,000 in further investment.
Paving the way for retail and with further good news that is has overtaken its main competitor M&S in sales and profit, we can continue to expect that John Lewis Partnership will go from strength the strength as the growing face of retail.
It is clear that there are more changes at JLP is looking to further change the way its customers shop, but will they push too far? Look out for our assessment on the changes to its click and collect services.
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