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John Lewis Partnership
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- London, England, United Kingdom
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- Overview & Photographs
The business was founded in 1864 when John Lewis set up a draper's shop in Oxford Street, London, which developed into a department store. In 1905 he bought the Peter Jones store in Sloane Square. In 1920 his son, John Spedan Lewis, expanded earlier power-sharing policies by sharing the profits the business made among the employees. The democratic nature and profit-sharing basis of the business were developed into a formal partnership structure and Spedan Lewis bequeathed the company to his employees. As of March 2008, there are 67,000 partners – the majority full-time – working for the John Lewis Partnership. [1]
The principle and slogan Never knowingly undersold was adopted in 1925. It was created by Spedan Lewis and applied to the company's Peter Jones store. It stated that if a customer could buy the same item cheaper elsewhere they would refund the difference. Today, the company still honours this pledge, and many of their competitors also offer such a pledge. The principle has been more refined, most notably to exclude online shopping. However, they were the only large retailer that would match the price with any UK shop, not restricting it to a local area, until DSGi plc adopted the same policy in July 2007. The policy is also to monitor local competitors and reduce the shelf edge price if they are being 'undersold'. [1]
The present shop on Oxford Street was completed in 1960, the original buildings having been bombed during the war and gradually rebuilt. The sculpture Winged Figure by Barbara Hepworth was added in 1962. [1]
On 27 April 1933 John Lewis Partnership bought Jessop & Son of Nottingham. This store was the first John Lewis outside London. The store kept the name 'Jessops' until 2002, when after a refurbishment and expansion the store was renamed as simply John Lewis. The partnership has also purchased a number of other regional department stores, as well as developing stores in new locations. As of 2005 it has plans to open a new department store every year for the next 10 years, which is probably the most ambitious expansion programme in its history. [1]
In line with other British department store chains, it is nearing the completion of a process of renaming any stores not branded John Lewis (Tyrrell & Green, Heelas, etc.) with the nationally recognisable name. Peter Jones in London will remain the only exception to this policy when the premises of Knight & Lee are replaced by a new department store in Portsmouth, and following the recent renaming of the Cambridge store (formerly Robert Sayle). [1]
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