As John Lewis reports its Christmas sales hit £734 million, managing director Andy Street reveals that the retailer plans to almost double in size by 2023.
Speaking to The Telegraph, Street said that John Lewis plans to increase its annual revenues from £4 billion to £7 billion. 25 new stores will open with one of those being outside of the UK.
Street also said he believes that by 2020 half of the retailer’s revenues will come from online sales. Building on the success of Johnlewis.com, there will also be a French website launching at some point.
As if that wasn’t enough, Street revealed that John Lewis ‘has an opportunity to expand into health-related products’.
The retailer’s like-for-like sales rose by 6.9 per cent to £734 million in the five weeks to December 28th, with its biggest ever day on December 27th, when it generated sales of more than £35 million.
PCR recently spoke with John Lewis about how the retailer has doubled its market share in PCs and electricals over the past three years. Check out the full feature here.