99p Stores is to launch in Ireland next month adopting a price-capped business model and trading as €uro 50 Stores.

The retailer will launch in Dublin’s Ilac Shopping Centre on Moor Street on September 7 and plans a further 150 stores across the UK and beyond in the next four years, creating more than 5,000 jobs.

The opening next month means the retailer will just beat its rival Poundland, which is aiming to launch its Dealz concept in the country in October.

Everything in the €uro 50 Stores shops is capped at €1.50 or less.

The Dublin store will take 99p Store’s portfolio to 150. All the group’s other stroes are in England and Wales.

99p Stores commercial director Hussein Lalani said: “This is yet further proof that European consumer spending patterns have changed forever. The days of consumers being ripped off paying two and three euros for day-to-day essentials are a thing of the past.”

Retail Week revealed in June that 99p Stores was planning an assault on the Irish market, before rolling out into further European markets.