The battle for the soul of John Lewis: Queen of the High Street Mary Portas says department store has ‘let go’ of its identity by planning to change worker-ownership model when store manager Dame Sharon White hits back
- Mary Portas, 62, said she was speaking “for” Britain in an open letter.
- But Dame Sharon, 55, responded, saying she would ensure John Lewis’s survival.
John Lewis has “loosed up” his soul under his new chairman, a major retail consultant has claimed.
Mary Portas, 62, said she was “speaking for the British nation” in a letter to company chairwoman Sharon White, 55, and incoming chief executive Nish Kankiwala, posted on LinkedIn yesterday. .
But Dame Sharon soon hit back, saying it was the “greatest privilege” of his life to serve as chairman of John Lewis and that it would ensure his survival.
It comes after it emerged that John Lewis was preparing to dilute his decades-old staff ownership model by selling a stake to an outside investor.
Dame Sharon is trying to raise between £1bn and £2bn of new investment, but John Lewis’s partnership model means he can’t raise capital and has instead been forced to sell bonds.
Mary Portas (pictured), 62, said she was “speaking for the British nation” in a letter to the company president.
But Dame Sharon (pictured) soon hit back, saying it was the “greatest privilege” of her life to serve as chairwoman for John Lewis and that she would ensure his survival.
Ms Portas said: ‘Your task is not to turn another mediocre retailer under threat of going under. You are fighting to save part of our collective cultural identity.
‘But what worries me is that you might think that your fight is purely financial. It’s not.
‘The battle in question is much more nuanced. It’s about what constitutes the soul of his brand.
‘The intangibles, the shared beliefs, the beautiful things that can’t be captured in financial projections but win a little space in people’s hearts.
‘Somehow, in the last few years, you’ve let go of your soul. We’ve all felt the subtle but powerful erasure of who John Lewis is, a rupture of what always sets the business apart from him.
The John Lewis Partnership, which includes Waitrose and John Lewis stores, reported an annual loss of £234m and warned of job cuts earlier this month.
Dame Sharon hired former Hovis chairman Nish Kankiwala as the first CEO of John Lewis, in a bid to revive the John Lewis fortunes.
The John Lewis Partnership, which includes Waitrose and John Lewis stores, reported an annual loss of £234m and warned of job cuts earlier this month.
Dame Sharon hired former Hovis chairman Nish Kankiwala as the first CEO of John Lewis, in a bid to revive the John Lewis fortunes.
The president responded to LinkedIn, saying: ‘It is the greatest privilege of my life to be the trustee of the association. I’m here to ensure that it not only survives, but thrives for generations.
‘I became president because we are a jointly owned company. That’s why Nish, who has been with the partnership for two years, takes over as chief executive on Monday.
‘I love our brands. Its strength is not an accident that we are a society. It is because we are a society.
‘Our partners who own the business are our greatest asset and our ownership of the partnership will remain.
“We have always been open to new partnerships with like-minded investors or companies to share our growth. I will not rest until society is fully restored.
lady sharon white
Dame Sharon White attended Fitzwilliam College, Cambridge, where she received a BA in Economics.
He joined the British civil service in 1989, working for the Treasury and the British Embassy in Washington DC.
He also worked under the Blair government in various posts and oversaw Britain’s response to the 2007-2008 financial crisis.
Dame Sharon joined television regulator Ofcom as chief executive in 2014 and left five years later when she was appointed chair of the John Lewis Partnership.
He received a DBE in 2020 for his commitment to public service.
Maria Portas
She has been nicknamed as ‘Queen of Stores’ Mary for her retail expertise.
Ms Portas began her career with John Lewis, Harrods and Topshop.
She then joined Harvey Nichols Department Store and rose to the Board as Creative Director in 1989.
Ms. Portas launched her own agency ‘Portas’ in 1997, producing challenging campaigns and championing brand development for clients including Clarks, Louis Vuitton, Oasis, Swarovski, Dunhill, Boden, Thomas Pink, Patek Philippe and Westfield.
He also led an independent review on the future of the high street for the coalition government in 2011.