Pepkor to open second retail format

Pepkor, the investment vehicle established by former Asda CEO Andy Bond, behind value fashion brand Pep&Co, has confirmed that it will launch a second pilot UK retail format in 2016.

Pepkor plans to open ten 10,000 square foot stores in the first half of 2016 that offer a mix of core grocery, general merchandise, as well as Pep&Co clothing, with all products aimed at shoppers on a budget.

The new brand has yet to confirm its name or locations of the first stores, however, they’ve already recruited a number of retail names including Koray Gul, former managing director of international apparel supplier chain management company Gaat, who has been named as the managing director of the new format.

Other new recruits includes Simon Singleton, who has been working with Pep&Co on retail strategy and store development will become operations director for the new brand, while former buying director at Poundworld, Daniel Donnelly has been named sourcing director, and Roy Ellis, former Poundstretcher executive will be the format’s new finance director.

“The discount sector continues to grow much more strongly than traditional retail in the UK, because it’s redefining value for customers,” said Pepkor UK co-founder Andy Bond. “UK customers will continue to value new options that save them money.”

The central support office for the new format will be based in Leeds.