Poundland to speed up Pep&Co openings
Poundland is speeding up its in-store Pep&Co openings as it targets significant fashion market share in the UK. The company will open 91 Pep&Co corners in its stores by June in a UK market where budget fashion is one of the most buoyant categories.
The openings will bring it to a total of 330 outlets, which would give it a major presence on high streets across the country.
And given that none of its clothing is priced over £10, it has a chance to shift huge volumes with retailers from Primark to Lidl showing just what can be achieved if the prices are low enough.
Poundland is aiming to join the top 15 fashion retailers in Britain and if it achieves its goal, it would bring it into direct competition with the leading supermarket lines, as well as with mass-market specialist fashion chains and with the biggest budget operators like Primark.
Poundland UK & Ireland MD Barry Williams said: "We're working flat out to make sure as many Poundland shoppers have access to Pep&Co by this summer.”
In January, the retailer said it had enjoyed a record Christmas, with sales up 5.6% in the 12 weeks to December 24. And comparable sales in the three weeks up to that date rose a healthy 6%.
Copyright © 2021 FashionNetwork.com All rights reserved.