Pep&Co
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| Retail | |
| Industry | Fashion |
| Founded | 2015 |
| Headquarters | Watford, UK |
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Number of locations
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82 (March 2017) |
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Area served
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UK |
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Key people
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Adrian Mountford, Managing Director |
| Products | Clothing |
| Revenue | £29.1m (2016) |
| £-14.7m (2016) | |
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Number of employees
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492 (2016) |
| Parent | Pepkor |
| Website | www.pepandco.com |
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Footnotes / references Spend a little - Get a lot |
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Pep&Co is a British discount fashion retail chain, owned by the South African company Pepkor and based in Watford, United Kingdom.
Pep&Co opened their first store in the Newlands Shopping Centre in Kettering, Northamptonshire in July 2015. The retailer opened their first 50 stores in 50 days, an average of a store a day, with aspirations to expand up to 900 outlets.
Pep&Co opened their first "store-in-a-store" in March 2017, when they utilised space in an existing Glasgow Poundland store without affecting or impacting on the range offered by the parent store.
Pep&Co is a value clothing chain, owned and operated by their parent company Pepkor. The concept was thought up by former ASDA chief executive Andy Bond and former head of Sainsbury's clothing business Andy Mountford, whilst in a chain of Starbucks. Bond believed there was retail capacity for a value clothing retailer following the demise of Woolworths and British Home Stores to name a few.
Following the opening of their first store on 1 July 2015, the retailer followed on with a further 49 stores within the next 49 stores, expanding at a rate not experienced since Next in 1982 and never achieved from a standing start. The entire opening programme came at a cost of £20m, with stores mostly being opened in secondary towns.
The retailer expanded rapidly during 2016, particularly in locations where similar rival Primark had no presence, with Pep&Co's managing director Adrian Mountford suggesting that they are the only retailer which competes directly with Primark on price. Other outlets have been opened within existing Poundland stores, particularly larger stores where space has allowed, further aiding the rapid progression at a faster rate than opening individual stores would. Many of the retailer's newly opened stores have in in smaller towns, where lower rent costs help ensure their pricing model is sustainable; this has been feasible due largely to larger supermarket chains opening smaller store formats in town centres, drawing customers to those areas and creating a greater footfall. Stores are typically designed to be minimalist in aesthetics, with their Kings Heath store have a minimal roof and bare floor, which the retailer claims allows them to cut costs which can then be passed on to the consumer.
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Wikipedia