John Lewis was once the darling of a booming high street, but as consumers shift their attention towards online retail, both have seen their fortunes turn. Last year John Lewis notched up a £517m pre-tax loss, and permanently shuttered eight of its stores.
The retailer is launching Anyday, its “most affordable” own brand range of 2,400 products designed to undercut existing collections and attract a broader range of money conscious consumers.
The partnership is hoping to recover from a severe loss with a strategy focused on local stores, a new pricing structure and closer integration between the John Lewis and Waitrose brands.
When established brands try to move beyond their core competence it rarely works, and John Lewis’s plan to move into residential property seems poorly thought through.
Brands including Just Eat, Tesco and Mars put forward a team for last week’s event, which was described as the “de facto welcome back” for the industry, following 18 months of Covid-19.
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Cutts joined HSBC in 2017 following lengthy stints at a number of major brands, including GSK, Mondelez and Meito-Adams.
Heinz is launching a campaign to promote the versatility and health credentials of baked beans, as it pays homage to its famous strapline while “evolving conversations” around the brand.