Source: Business of Home —
It’s been a fraught time for retail, to say the absolute least. As retailers in every sector of the business grapple with post-pandemic (or second-wave) projections—and an era of ever fewer brick-and-mortar stores and ever more e-commerce—one chain has figured out a fascinating solution for its unused real estate.
Flashy brands, from Missoni to Aston Martin to RH, have dipped a toe into the residential business, but now, British retail giant John Lewis is joining their ranks. The company is in the initial stages of creating 10,000 residential units, 70 percent of which will be built into its existing real-estate portfolio (including in its parking lots and above its grocery stores). And here’s the kicker: Tenants will be able to furnish their new apartments and houses with products from John Lewis.
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