John Lewis announces 500 million investment into retail company
In an email letter on 25th February
I’m delighted to let you know that today we’re announcing a £500 million investment so that we can bring John Lewis quality to you at great value prices, every day. As the cost of living rises, we have all become more conscious of our spending habits and with this new investment, we will ensure that we’re offering you the quality, style, service and trust that you expect from us, whatever your budget.
With this in mind, we will be retiring our Never Knowingly Undersold policy this summer.
Established back in 1925 and a hallmark of trust for nearly a century, we recognise that this policy is no longer serving you in the way that we would like, as it doesn’t allow us to match prices from online-only retailers.
Due to the increase in online shopping, driven further by the events of the last two years, our £500 million investment will ensure that all of our customers will benefit from fair and great value prices that you can trust, whether you choose to shop in our stores or online.
Our founding philosophy to treat all of our customers fairly remains unchanged.
You can be assured that we will continue to monitor prices from other high street retailers, and that our investment means that we can proactively lead on great value pricing in the future.
PARTNER & EXECUTIVE DIRECTOR, JOHN LEWIS