South African billionaire Christo Wiese, owner of value chain Pep&Co, said he will roll out the business “aggressively” into international markets when the time is right.
Speaking to The Guardian, Wiese said the idea of opening 50 Pep&Co stores in the UK in 50 days was “bold” but if the model is successful he will expand into other territories, with eastern Europe, Asia and Africa mooted as potential locations.
“If the concept works, then, the way we operate, we tend to roll out aggressively. When the model is exactly right and the infrastructure is in place then we will start to push the button.”
Wiese, who also owns New Look, Virgin Active and a significant share in Iceland, added: “We have very substantial businesses that need to grow and need the support of shareholders. These are pretty solid businesses that will go well in their domestic market but would also serve as businesses for further international expansion.”