Poundland To Open 150 More Fashion Outlets
- Aims to compete with Topshop and River Island
- Prices between £1-£10
- Expanding Pep&Co brand
Poundland has announced that its’ fashion brand Pep&Co will be available in 150 more stores this year.
This will double the availability of the fashion outlet in stores.
Poundland said that the expansion is part of a move to become a major high street fashion player, and that it is aiming to rival brands like Topshop, River Island, and New Look, which recently announced it may have to shut stores.
Adrian Mountford, Pep&Co’s managing director, said, “This Christmas we sold over a million more items than we did in our whole first year of trading from standalone stores.
“Thanks to our partnership with Poundland we’re set to double in size over the coming year, helping us to drive economies of scale to keep prices low, helping to make Poundland an increasingly popular new fashion destination.”
Prices range between £1-£10 for the clothing brand.
Poundland had successful sales figures this Christmas, helped by its’ controversial Elf on a Shelf campaign.
However the brand faced criticism and poor sales throughout the rest of 2017, so its’ expansion into fashion could help raise profits.
Poundland recently had to get a £180 million loan from American investment firm Davidson Kempner, in order to replace an investment from South African company Steinhoff, which is under investigation for an accounting scandal.
It also changed its’ pricing from always costing £1, to some products costing up to £5, and now Pep&Co will be up to £10.
One dissatisfied bargain hunter, Heather Stevens, said, “I think Poundland really lost its’ charm by adding lines that are more than a pound.
“The main draw was that everything was a bargain, but now it’s just like any other shops, so I certainly don’t go there as much.”
Pep&Co’s expansion in Poundlands will begin on 1st February.