The John Lewis Partnership (JLP) is rebranding its two businesses – John Lewis and Waitrose – as it looks to make more of its key points of difference amid the strategic challenges facing high street retail.
The move will see John Lewis rebranded as ‘John Lewis & Partners’ and Waitrose as ‘Waitrose & Partners’ from September 2018. The company has not issued further details on what this might mean, simply saying that more details “will be announced in the coming months”.
The rebrand comes as JLP issues a profit warning, cautioning that profits in the first half will be “close to zero” and in the second half “substantially lower” than last year as it looks to offset struggles on the high street with plans to invest in its brands, products and service.
The partnership says it plans to raise up to £500m over the next three years to invest in product and service innovation. This will be done by “rebuilding profitability” at Waitrose, creating more value from its property estate and conducting a review of its pension scheme.
That investment will be put into “differentiating” its retail proposition. JLP points to its “excellent” brands and their “proven capability” to develop new products and services, as well as its…