Poundland to open more Pep&Co shop-in-shops
Warnings that the UK retail environment will remain challenging during the rest of the year may deter many large chains from investing in bricks-and-mortar but value retailer Poundland is hoping a shift towards lower spending to drive demand for its affordable clothing range.
The retailer has revealed plans to open six more Pep&Co shop-in-shops during July and August. The concepts will open in Poundland stores in Princess Alice Retail Park, Kings Lynn Retail Park, Peterborough Retail Park, Peterborough Hereward Cross centre, Cortonwood shopping park in Barnsley and Shirley Parkgate shopping centre near Solihull, according to Retail Gazette.
This year marks five years since Poundland launched its Pep&Co fashion line in the UK and Ireland. With 95% of the range priced at less than £10, the collection has become increasingly popular among families, generating annual sales of £100 million.
The first Pep&Co shop-in-shop opened in late 2019, with further locations added at Christchurch, Minehead, Margate, Swansea Newport, Bradford Kirkgate, Nottingham East Point and Consett in County Durham.
Poundland’s decision to roll out more shop-in-shops comes amid a growing trend among UK retailers to close stores following the coronavirus-related lockdown. John Lewis, Inditex, Debenhams and TM Lewin have all announced permanent store closures to cut costs. Meanwhile, several well-established fashion brands such as Laura Ashley are transitioning into an online-only model to respond to shifting consumer behaviour.
Copyright © 2023 FashionNetwork.com All rights reserved.