What: John Lewis becomes patron of British Beauty Council, reinforcing its commitment to the beauty industry and recent growth in beauty sales.

Why it is important: By joining forces with the British Beauty Council, John Lewis positions itself to shape industry trends and policies, potentially influencing future growth opportunities in the beauty sector.

John Lewis has become a patron of the British Beauty Council, a not-for-profit organization that engages with businesses and government to address the needs of the beauty sector. This partnership reflects John Lewis's commitment to supporting the beauty industry and promoting growth opportunities, as beauty is a crucial part of its retail offering. In the first half of 2024, John Lewis reported a 6.8% increase in beauty sales compared to the previous year. The company has also invested significantly in its in-store beauty experience, with beauty hall refurbishments taking place in its Oxford Street, High Wycombe, and Cheadle stores. This focus on beauty aligns with John Lewis's recent strategic shift back to its core retail business. In March 2024, the company abandoned its previous goal of generating 40% of profits from non-retail ventures by 2030, instead concentrating on strengthening its retail operations after posting its first profit in four years.

IADS Notes: John Lewis's partnership with the British Beauty Council comes at a time of significant strategic shifts for the company. According to our  database, in March 2024, John Lewis reported a return to profitability after three consecutive years of losses, with an anticipated £25m profit for the year (Retail Gazette, March 2024). This financial turnaround coincided with a major strategic pivot, as John Lewis abandoned its earlier diversification plans and refocused on its core retail business (Retail Gazette, March 2024). The company's commitment to retail is further evidenced by its announcement of a record £542m investment earmarked for store refurbishments and expansions (Retail Gazette, March 2024). This renewed focus on retail, particularly in the beauty sector, aligns with the company's recent success in beauty sales and its new role as a patron of the British Beauty Council.

John Lewis has joined the British Beauty Council as a patron