Pepkor plans expansion as Pep and Ackermans grow market share
CEO Leon Lourens says rising vacancies at shopping malls offer a ‘great opportunity’ to open more stores as cash-strapped consumers buy cheaper clothing
Pepkor, owner of Pep and Ackermans, which opened 108 new stores in SA in the six months to end-March, plans to add more outlets as it takes advantage of vacant spaces at malls and the growing trend of cash-strapped consumers buying cheaper clothing.
The Retail Liaison Committee (RLC) records that Pep and Ackermans are stealing market share from other clothing retailers as consumers search for value and there is a growth in casual wear as many people still work from home. The RLC is an association of clothing, footwear, accessories and homeware retailers operating in SA, which reports market performance data such as market share and category growth...
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