900 Poundland stores to offer Pep & Co fashion line
UK value retailer Poundland has expanded on its plans to sell one of parent company Pepkor’s fashion brand in its UK stores.
The Pep & Co fashion brand will be available in all 900 UK Poundland stores, a radical expansion from Pep & Co’s current 50 high street standalone locations.
Ten Poundland stores will get 2,500 sq ft shop-in-shop areas from February with another 50 of the chain’s largest stores also due to for a deep dive into brand soon. Pep & Co will be available on a smaller scale in the remaining stores with womenswear and kidswear as the main offer.
“The relationship between Pep & Co and Poundland will become increasingly significant,” Pepkor Europe chief Andy Bond told the Guardian. “My ambition is that, over time, Pep & Co will become to Poundland like George is to Asda.”
The fashion items are unlikely to be all sold at £1 with 5% of the retailer’s offer currently coming in above that price and the recent fall of the pound against the dollar adding to pricing pressures.
Bond said £1 will remain the anchor price for the chain but it has been experimenting with goods priced below that figure, as well as items for £8 or more.
He said: “We will always anchor Poundland around the trust of £1 pricing but the research from the business isn’t that people shop there because things are £1 but because they get amazing value. There are some areas where sticking to £1 doesn’t let you have a credible offer - like toys and clothing.”
He added: “The journey pound stores are going on is the same as the dollar stores in the US. The vast majority of them have moved from single price to multi-price - from one price to a small number of prices.”
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