Poundland aims to be quids in with value fashion roll-out

Discount retailer Poundland is to roll out its value fashion line to 100 stores by the end of the year as it aims to take market share from rivals including George at Asda and Peacocks.

The Willenhall-based retailer said Pep&Co is to open in a further 50 Poundland shops during the second part of the year, in addition to the 50 currently being rolled out over the next few months.

Pep&Co and Poundland are backed by South African retail billionaire Christo Wiese under the Pepkor UK holding company, run by former Asda boss Andy Bond. Pepkor UK is a subsidiary of South African group Steinhoff, which bought Poundland for £597m in last June.

Founded in 1990, Poundland sells most items in its stores for £1, stocking over 3,000 products and employing 18,000 staff. It currently has around 900 stores across the UK.