Pepco (retailer)

Last updated

Pepco
Company type Private limited company
Industry Retail
Founded2004;20 years ago (2004)
Headquarters Poznań, Poland
Number of locations
3500 (2024) [1]
Key people
Stephan Borchert (CEO)
Products consumer goods, clothing, DIY, electrical
Revenue€1.98bn (March 2024) [2]
OwnerPepco Group
(Ibex Holdings, 79%)
Number of employees
25,000 (2024) [1]
Website pepco.eu
Pepco shop in a shopping center in Poznan, Poland Sklep Pepco w Poznaniu.jpg
Pepco shop in a shopping center in Poznań, Poland
Pepco store in a retail park in Bielawa, Poland Pepco.jpg
Pepco store in a retail park in Bielawa, Poland

Pepco is a Polish variety store chain with stores across Europe. It is part of the London headquartered, but Polish listed Pepco Group alongside sister brands Poundland and Dealz. [3] Pepco stores account for the lion's share of the group's stores with 3500 branches across Europe (out of a total of 4600), [1] and has replaced Dealz (in format and brand) completely in most European countries, except for Poland and Ireland. [1] [4]

Contents

History

In 1999 the British retailer Brown & Jackson expended into in Poland, where they opened Poundstretcher stores in the country. [5] Following poor performance, B&J Poland was sold to South African firm Tradegro in 2002, and was taken over by Pepkor in 2004. Following the takeover the business and stores were rebranded to Pepco. [6]

From 2013 onwards, Pepco began to expand into other European markets: [7] [8]

In 2023, the majority (79%) shareholder of Pepco, Steinhoff International was delisted and restructured in a plan to avoid bankruptcy following years of lawsuits and heavy losses after holes in the company's accounts were exposed in December 2017. [23] Any bankruptsy was however not expected to harm Pepco given its strong balance sheet and independent sources of finance. [24] Following the restructure 2023 Steinhoff's shareholding was transferred to the new entity Ibex Topco B.V. [25]

In Poundland and Dealz

Since 2023 Poundland and Dealz stores have been phasing out their own brand and previous "Pep&Co" branded products and clothing, replacing them with Pepco branded ranges. This transition was seen as a potential cause for a dip in like-for-like sales at the group in 2024 [26] [27]

In the United Kingdom, Pepco products are marketed as being "only at Poundland". [28]

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References

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  2. "Pepco Group reports 11% revenue growth in H1 FY24". Retail Insight Network. April 2024. Retrieved 12 April 2024.
  3. "Poundland owner Pepco snubs London with plan for £4bn Polish listing". Sky News. Retrieved 12 April 2024.
  4. "Pepco Group simplifies structure will turn Dealz brand into Pepco". CIJ Europe. Retrieved 12 April 2024.
  5. "History". Pepco Group. Retrieved 22 April 2024.
  6. "Chcą podbić nasz region - Archiwum Rzeczpospolitej". archiwum.rp.pl. Retrieved 12 October 2020.
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  9. "Mamy już 1000 sklepów w Europie". pepco.pl (in Polish). 27 October 2016. Retrieved 12 April 2024.
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  19. "New retail brand for Sligo as Pepco opens store". December 2023. Retrieved 12 April 2024.
  20. "Leading discount brand Pepco opens new store in Ireland". ShelfLife.ie. 13 June 2023. Retrieved 12 April 2023.
  21. "Pepco w Portugalii". Pepco Polska (in Polish). 7 June 2023. Retrieved 23 April 2024.
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  24. Maciej Badowski (28 July 2023). "Właściciel Pepco ogłasza bankructwo. W tle długi i poważne oszustwa. Co ze sklepami w Polsce? Poznaj stanowisko firmy". wspolczesna.pl (in Polish). Retrieved 28 July 2023.
  25. "Governance - Pepco Group". Pepco Group. Retrieved 12 April 2024.
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  27. "Poundland sales dip as it overhauls general merchandise". Retail Gazette. Retrieved 12 April 2024.
  28. "Pepco Clothing - Poundland" . Retrieved 12 April 2024.