New value chain Pep&Co is on track to open its next stores in Cwmbran, Falkirk, Corby and Hull next week, following a successful launch of the first store in Kettering, Northamptonshire, on July 1.
“We’re delighted with customer reaction to the opening few days – customers seem to like the new combination of value and quality and we’re ahead of our expectations,” said managing director Adrian Mountford. “However, it’s one store and a few days trading. We’ve got plenty to do.”
Mountford is leading the ambitious Pep&Co retail roll-out programme, which will see the new chain open 49 more stores across the UK over a 50-day period.
“As planned we’re now fine-tuning our systems, but we’re on track to open our second store next Monday [July 13] in Cwmbran, followed closely by Falkirk on Tuesday, Corby on Wednesday and Hull on Thursday,” he told Drapers.
“Overall, the mix of sales between women’s and kids’ wear is about what we planned, although it probably means nothing as it is too early for it to be very meaningful.
“It’s been very encouraging that we have been describing the customer as a young mum on a budget and the store is full of young mums with prams and kids, absolutely the type of customer we wanted to attract.”
Pep&Co’s prices start at £1 and 95% of products are priced under £10.
The chain is the first investment by Pepkor UK, which is headed up by former Asda chief executive Andy Bond and Mark Elliott, former consultant at management consultancy Bain & Company. It is part of South African investment company Pepkor, owned by South African billionaire Christo Wiese.