The Polish footwear company CCC is withdrawing from the Austrian market and Pepco will take over 29 of CCC Austria’s 46 stores on Sept. 30, 2021.
Pepco, a Polish retailer which offers everything from clothing to cosmetics and school supplies, operates more than 3,200 low-cost stores in 16 countries across Europe. It aims to triple that number within five to seven years, including through expansion into Italy and Spain.
Another 14 of CCC Austria’s stores are to be closed, while the three remaining ones will be converted into CCC’s low-cost fashion retail chain HalfPrice.
The move is part of the group’s strategy to reorganize its retail network in Western Europe by cutting back on CCC stores and expanding into the booming niche of off-price stores.
HalfPrice is currently present in Poland and, in addition to Austria, it will soon expand to the Czech Republic and Hungary, with 65 stores under its brand name planned in Europe by the end of December.
CCC currently employs around 430 people in Austria, but it is still not clear what the company plans to do with them. It made its debut in the country in 2013 and rapidly expanded, opening its 50th store in the market in October 2019.