Value fashion chain Pep & Co is aiming to open a second wave of stores as bosses believe they have now got the right offer in place.
The retailer, whose chairman is former Asda boss Andy Bond, plans to open 10 to 15 new shops by October.
The chain, backed by billionaire Christo Wiese’s South African investment vehicle Pepkor, opened its first tranche of stores last summer in the space of 60 days in market towns and secondary locations across the UK.
Retail Week understands that no leases have been signed on the new sites, but Pep & Co bosses have identified target locations. Yorkshire is believed to be a focus.
Since opening, Pep & Co has made a number of changes to its offer, including scrapping homewares and introducing menswear. It has also boosted womenswear lines, such as leggings and jeggings.
“We’ve adapted and improved our offer over the past few months to reflect what customers tell us they want from us,” said Pep & Co managing director Adrian Mountford, formerly a Sainsbury’s and Matalan executive.
“We’re stone-cold certain we have the opportunity to now build a very strong business, giving customers close-to-home access to low-priced, great quality fashion.”
Pep & Co’s backer, Wiese, who has a wide range of interests in UK retail including New Look, told Retail Week last year he believed consumers’ obsession with value was “here to stay”.
Pep & Co is the subject of current ITV documentary series Bargain Shop Wars. A website asking customers where the next shop should open has attracted 7,000 responses since the programme aired, according to the retailer.
Meanwhile, Pepkor is also in the process of launching a discount variety chain – Guess How Much! (GHM!) – with the first store due to open in June in Leicestershire, and up to 10 stores planned this year.
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