Mar 26, 2023
John Lewis: Ex-boss says changing ownership model would be a tragedy
A former John Lewis boss has said it would be a "Tragedy" if the retailer changed its ownership model, which has been in staff hands for 70 years. Ms Portas said John Lewis was one of the most "Valued, loved, and trusted retail brands" in the country but that it had "Let go" of its soul. Speaking on Sunday about the possible change, Mr Street said: "It would be a tragedy if that occurred because I think John Lewis goes a bit beyond a shop."You can buy the same television in other places in truth, but John Lewis was about a way of doing business, showing the market there was a better way almost and that's potentially under threat. "Some of the best retailers at the moment - Next, Primark, Selfridges - are proving physical retail can still do that, and that's really the challenge to John Lewis and Waitrose," he added. In a statement John Lewis said its partnership model is what makes it special and "Will always be the heart of our business".
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