Friday , February 23 2024
Home / News / Economy / Polish discount store chain Pepco to open stores in Greece

Polish discount store chain Pepco to open stores in Greece

Polish discount store chain Pepco is expected to shake up the Greek retail market, as the company whose main trade is in apparel and home decor is expected to compete with established chains in Greece, such as Jumbo.

It remains unknown, however, whether the group that Pepco belongs to is planning to develop other chains in Greece, as it has already done in Poland, Spain and the United Kingdom.

The company announced on Tuesday it intends to open 12 stores in Greece, with the first four expected in the fall of 2022, probably in Attica. Sources say one will be in the center of Athens and three more will be located in other popular spots in the capital. At a later stage it will expand to more areas in Greece.

Pepco intends to cooperate with landlords and estate agents to secure the long-term lease of stores of 350-650 square meters in retail areas and shopping centers in cities of more than 20,000 people. That means it intends to develop stores that will be smaller than Jumbo’s. Pepco will also hire 120 people at first. [kathimerini, capital.gr]

Check Also

Greece seeks to tax capital gains from cryptocurrency

Greece’s Finance Ministry and tax authorities are preparing to create a framework for the taxation …