PEP and Ackermans are the future, says Pepkor CEO

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PEP recently opened its flagship store in Canal Walk.
Photo: Supplied by Pepkor
PEP recently opened its flagship store in Canal Walk. Photo: Supplied by Pepkor

"I think more and more retailers are going to try to come into our space. But we've dealt with that for 50 years or so. We'll protect our market share," says Pepkor CEO Leon Lourens after "extraordinary" market share gains that PEP and Ackermans record in the past six months.

Pepkor, which presented its full year results on Monday, sees "value" clothing as the future of the group. Although the group ventured into branded footwear, furniture and other things over the years, it has recently been on a path to "streamline" its operations, selling its building materials business, consolidating stores in other divisions and exiting certain African countries.

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