UK DIY News
Poundland updates pricing model
In Steinhoff's recent trading update, it was confirmed that Poundland is to expand its range and price points by featuring items from PEP&CO - a trading fascia of Pepkor, a large South African retail group which is also part of the Steinhoff empire.
PEP&CO has national coverage with its first 50 stores located in secondary towns across the United Kingdom. The chain offers a mix of womenswear, childrenswear and babywear to the value conscious consumer, with 95% of its products priced at under £10.
The Poundland acquisition presented Steinhoff with a unique opportunity to satisfy its strategic initiatives which include increase its relevance and product range and scaling the PEP&CO model.
Markus Jooste, Group CEO said that “gross margins increased substantially” in stores where the products were sold, adding, "Management is quite confident that a multi-pricepoint and a different mix of product is definitely in store for the future for those brands in the UK.”
Image : Barry Barnes / Shutterstock.com
Source : Insight DIY
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