Pepkor

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Pepkor
IndustryClothing, Retail, Accessories
Founded1965[1]
Headquarters
Parow, Cape Town
,
South Africa
Number of locations
5,830 stores (2022)
Area served
Southern Africa, Botswana, Lesotho, Namibia, Eswatini, Nigeria, Malawi, Mozambique, Angola, Zambia, Brazil
Key people
P J Erasmus (CEO) [2]
RevenueIncrease EUR 4.53 billion [3]
Number of employees
49,700 (2022)
ParentIbex Topco B.V. (43.8%)[4]
SubsidiariesPEP, Ackermans, Dunns, Incredible Connection, Shoe City, Refinery, S.P.C.C, CODE, Tekkie Town, Bradlows, Rochester, Sleepmasters, HiFi Corp, BUCO
Websitepepkor.co.za

Pepkor is a South African-based investment and holding company focused on the discount and value consumer retail and fintech markets. While the majority of its operations are in South Africa, the company also operates in other African countries and Brazil. It manages retail brands that sell predominantly clothing, footwear, and homeware, in addition to household furniture, appliances, consumer electronics, and building materials.

Its retail brands include PEP, Ackermans, Shoe City, Dunns, Tekkie Town, Refinery, S.P.C.C, CODE, Bradlows, Rochester, Sleepmasters, Incredible Connection, HiFi Corp, and BUCO. Its fintech operations provide financial and telecommunications services to customers in the formal and informal markets. Its Flash business supports 200,000 small-business traders in the informal market. Pepkor's internally developed PAXI parcel delivery service leverages its expansive retail store footprint.[5]

History

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The company was founded in 1956 by Renier van Rooyen. He opened his first chain store, the start of PEP Reef, in 1978.[6][7] Formerly known as PEP stores, the company was renamed Pepkor Limited in 1982, with PEP stores becoming a subsidiary.[1]

In 1998, Pepkor acquired Australian retailer Best & Less.[8]

In 2011, the private equity company Brait bought a 24.6% stake in Pepkor for R4.18 billion, valuing the company at about R17 billion.[9]

In 2012, Pepkor purchased the Australian department store chain Harris Scarfe from investment company Momentum Capital.[10]

In November 2014, Steinhoff International acquired Pepkor for US$5.7 billion.[11]

Pepkor was listed on the Johannesburg Stock Exchange in September 2017.[12][13]

Pepkor expanded into selling affordable mobile phones and sells 12 million cellular handsets annually.[14]

In February 2022, Pepkor acquired a majority stake in Brazilian retailer Grupo Avenida, marking the company's first foray into Latin America.[15]

Subsidiaries

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PEP

[edit]
Main article: Pep (store)

PEP retail stores sell clothing, footwear, textiles, homeware, and cellular products, targeting the lower-end market. The brand focuses on selling items at the lowest possible prices in high volumes in both rural and urban areas. It is Pepkor's largest and first subsidiary, with over 1,500 stores in countries across Southern Africa.[16][17][18]

Ackermans

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Main article: Ackermans

Ackermans sells clothing, footwear, and household textiles to the middle-income market from its 953 stores across South Africa.

Dunns

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Dunns sells adult clothing, footwear, and accessories to the middle-income market from its 200 stores across Southern Africa.[19]

Shoe City

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Shoe City sells footwear from 86 stores in South Africa. Like most Pepkor subsidiaries, it targets the mid-market segment, focusing on high-volume, low-price sales.[20]

Tekkie Town

[edit]
Main article: Tekkie Town

Tekkie Town is a South African shoe retailer offering a range of shoes, apparel, and accessories for men, women, and children. The retail chain operates 400 stores across South Africa, with most located in Gauteng, the Western Cape, and KwaZulu-Natal. The company also has an online store.[21]

References

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  1. ^ a b "Bloomberg Businessweek: Pepkor profile". Bloomberg Businessweek. Archived from the original on October 5, 2012. Retrieved 31 July 2010.
  2. ^ "Africa's Largest Clothing Retailer Taps Booming Phone Market". Bloomberg.com. 2022-11-22. Retrieved 2023-03-16.
  3. ^ "Pepkor (PPH.JO) - Revenue". companiesmarketcap.com. Retrieved 2023-03-16.
  4. ^ "S.Africa's Steinhoff raises $277 mln from selling Pepkor shares". Reuters. 2023-02-09. Retrieved 2023-03-16.
  5. ^ Moodley, Neesa (2022-11-22). "COMPANY RESULTS: Pepkor could become a more successful version of the SA Post Office delivering on average 11,500 parcels a day". Daily Maverick. Retrieved 2023-03-16.
  6. ^ Ehlers, Anton (2008). "Renier van Rooyen and Pep Stores Limited: The Genesis of a South African Entrepreneur and Retail Empire". South African Historical Journal. 60 (3): 422–451. ISSN 0258-2473.
  7. ^ Ehlers, Anton (2008-09-01). "Renier van Rooyen and Pep Stores Limited: The Genesis of a South African Entrepreneur and Retail Empire". South African Historical Journal. 60 (3): 422–451. doi:10.1080/02582470802417482. ISSN 0258-2473.
  8. ^ Kaufman, Eve (2015-01-21). "Berel Ginges founded Best & Less but was known for so much more". The Sydney Morning Herald. Retrieved 2023-04-21.
  9. ^ Bleby, Michael (May 3, 2011). "Pepkor's Wiese joins Forbes rich list". Business Day. Retrieved September 7, 2011.
  10. ^ MacLennan, Leah (2017-12-29). "Aussie retailers assure public as global parent faces cash flow concerns". ABC News. Retrieved 2023-04-21.
  11. ^ Dolan, David; Motsoeneng, Tiisetso (2014-11-25). "South Africa's Steinhoff expands discount offer with $5.7 billion Pepkor buy". Reuters. Retrieved 2023-04-21.
  12. ^ "JSE fines Pepkor Holdings R5m for breaches of listing requirements – The Mail & Guardian". mg.co.za. Retrieved 2023-03-16.
  13. ^ "South African bourse fines Pepkor for breaching listing requirements". Reuters. 2018-11-26. Retrieved 2023-03-16.
  14. ^ "Africa's Largest Clothing Retailer Taps Booming Phone Market". Bloomberg.com. 2022-11-22. Retrieved 2023-03-16.
  15. ^ Financial, Afrik (February 8, 2022). "Le sud-africain Pepkor signe son entrée en Amérique latine". www.financialafrik.com. Retrieved February 8, 2022.
  16. ^ "Pepkor - PEP". Pepkor. Retrieved September 7, 2011.
  17. ^ "PEP eyes fast-growing Angolan market - SouthAfrica.info". 2008-11-10. Archived from the original on 2008-11-10. Retrieved 2023-03-16.
  18. ^ Burgers, Louise (2020-12-21). "#21interviews: PEP plans to open 100 new stores in 2021". Retailing Africa. Retrieved 2023-03-16.
  19. ^ Mashego, Penelope. "Pepkor deal breathes new life into local streetwear brand Loxion Kulca". Business. Retrieved 2023-03-16.
  20. ^ "Pepkor - Shoe City". Pepkor. Retrieved September 7, 2011.
  21. ^ "Tekkie Town launches online store with greater variety". Bizcommunity. Retrieved 2023-03-16.