Guess How Much! (GHM!), the new discount variety retailer launched by former Asda boss Andy Bond, has opened its first store.
The store, at Hinckley’s new £60m Crescent development in Leicestershire, threw its doors open to shoppers yesterday.
The chain, which aims to be a “one-stop shop for mums”, will open its second store on the Isle of Sheppey, off the Kent coast, next week. Up to five stores, between 8,000 sq ft and 10,000 sq ft, are planned by the end of the year.
As exclusively revealed by Retail Week last October, the stores will sell general merchandise, ambient grocery and feature fashion from Pep & Co clothing lines.
Fashion chain Pep & Co was launched by Bond last year and opened 50 stores with the backing of Christo Wiese’s South African investment vehicle Pepkor. GHM! marks Pepkor’s second venture in the UK.
The launch sets the chain in competition with the likes of B&M, Home Bargains, Poundland and Poundstretcher in the fiercely competitive discount variety sector.
TCC global analyst Bryan Roberts said: “The store marks an impressive debut for the new business.
“I admire the amount of research and insight behind the proposition, the store design and the level of focus that has gone into the categories that matter most to the target audience.
“Pricing is compelling and the ace up GHM!’s sleeve is the Pep & Co clothing range. This will be a key differentiator against the likes of B&M and will be a real draw for budget-conscious mums.”
GHM! is being run by former Asda executive Koray Gul, out of a head office in Leeds.
Pictures courtesy of Bryan Roberts