THE NEW retail vehicle founded by former Asda CEO Andy Bond and South African billionaire Christo Weise will today announce plans to create 500 new jobs across the UK.
Pepkor UK is set to reveal store roll-out details for Pep&Co, a new challenger fashion brand aiming to fill the gap left by the downturn in town centre high streets.
“If you look at those secondary high street locations, what’s interesting is that the discount space generally is flourishing,” Mr Bond, 50, told the Sunday Times.
“You might have an Aldi, a Poundland, a Poundworld, a B&M, but at the same time as they have emerged and thrived, almost every other clothing retailer has exited.
“So it seemed to me if you imagine a mum with kids, they’re able to pick up some frozen food at Iceland, a few groceries at B&M or Poundland.
“Where are they going to buy their clothing?”
Pep&Co will open 50 stores over eight weeks from the beginning of July in a £20m roll-out prgramme.
The first will be in Kettering and will be followed by openings across England, Scotland and Wales. Confirmed locations include Hull.
“I want to say unashamedly that we are very proud tight-a***d Yorkshiremen,” said Mr Bond, who lives in Harrogate.
“However, behind the hoardings in Kettering I was truly gobsmacked at the quality of the fixtures for the investment we are making.
“It’s a great example of how you don’t have to spend lots of money to create a great experience for the shoppers.”
Pep&Co promises that stores will have simple low pricing on fashion and home ranges.