A great summation of the JLP situation as well as ‘Branded House’ vs ‘House of Brands’. I’m an ex Waitrose employee from the wonderful Mark Price era, so I have seen the impact of ownership on culture. And with all that, I am not as positive about the future for department stores vs specialists. The only routes seem to be through Experience (although this is the imperative of all retail now) and Curation.
And curation needs to come from the lens of the customer. Customers don’t tend to buy ‘things’ they are looking for an image, or a statement, or an end result. The final ‘Why?’ In the chain. So curating across categories to create co-ordinated lifestyle imagery seems to have relevance.
With regards to investment strategy, it is Customer Strategy that seems to be what is lacking. The JLP business seems filled with many different and often competing plans when a single, well articulated and communicated Customer strategy, built around a single view of their joint customer, could help provide focus. There could be a really exciting future for JLP if it brings the 2 brands and their physical and digital infrastructure together well.
I don’t think more money is the answer though. Without a sound strategy, followed with some single minded focus more cash won’t help. As I think is being demonstrated by the great performance of M&S right now (except for the wine selection!).
As always I find Ian's views both fascinating and unerringly sensible. This says it all: "In other words, finding a way to replicate across the country some version of what Selfridges do so well in London". The transformed Horsham store is worth a visit but as I said in my Substack article on JLP last week, it needs to be more interactive. Same point although Ian articulates it far better than I. Having done business with JLP some years ago I can relate to the slow to act sentiment. I used to say that they would have a meeting to decide whether to have a meeting. However, ultimately, particularly now that Pippa has left (any reason?) more than ever it needs a strong retail leader at the helm. Sadly, it's unlikely (despite my positive review!) that Nish is that man. After all, he's been a NED for most of the lifetime of the 5 year plan and is said to have been a close advisor during that time so whilst his appointment as CEO is a step in the right direction it doesn't go nearly far enough.
A great thought piece Ian, to which I concur. My concern is as JLP gets older with its existing customers its failing to get to know & draw in its future customers. Also curation is not a mass activitiy at Brand level but a local store / customer level point of difference aligning to the needs of local customers, so they need to invest in the data and tech to better match product, place and experience.
A great summation of the JLP situation as well as ‘Branded House’ vs ‘House of Brands’. I’m an ex Waitrose employee from the wonderful Mark Price era, so I have seen the impact of ownership on culture. And with all that, I am not as positive about the future for department stores vs specialists. The only routes seem to be through Experience (although this is the imperative of all retail now) and Curation.
And curation needs to come from the lens of the customer. Customers don’t tend to buy ‘things’ they are looking for an image, or a statement, or an end result. The final ‘Why?’ In the chain. So curating across categories to create co-ordinated lifestyle imagery seems to have relevance.
With regards to investment strategy, it is Customer Strategy that seems to be what is lacking. The JLP business seems filled with many different and often competing plans when a single, well articulated and communicated Customer strategy, built around a single view of their joint customer, could help provide focus. There could be a really exciting future for JLP if it brings the 2 brands and their physical and digital infrastructure together well.
I don’t think more money is the answer though. Without a sound strategy, followed with some single minded focus more cash won’t help. As I think is being demonstrated by the great performance of M&S right now (except for the wine selection!).
As always I find Ian's views both fascinating and unerringly sensible. This says it all: "In other words, finding a way to replicate across the country some version of what Selfridges do so well in London". The transformed Horsham store is worth a visit but as I said in my Substack article on JLP last week, it needs to be more interactive. Same point although Ian articulates it far better than I. Having done business with JLP some years ago I can relate to the slow to act sentiment. I used to say that they would have a meeting to decide whether to have a meeting. However, ultimately, particularly now that Pippa has left (any reason?) more than ever it needs a strong retail leader at the helm. Sadly, it's unlikely (despite my positive review!) that Nish is that man. After all, he's been a NED for most of the lifetime of the 5 year plan and is said to have been a close advisor during that time so whilst his appointment as CEO is a step in the right direction it doesn't go nearly far enough.
A great thought piece Ian, to which I concur. My concern is as JLP gets older with its existing customers its failing to get to know & draw in its future customers. Also curation is not a mass activitiy at Brand level but a local store / customer level point of difference aligning to the needs of local customers, so they need to invest in the data and tech to better match product, place and experience.