Pep Stores, a household name in South Africa, is synonymous with affordable fashion and everyday essentials. But who is the owner of Pep Stores, and how did this retail empire come to be? The story begins with Renier van Rooyen, a visionary entrepreneur who turned a modest R1,000 investment into a R73 billion retail powerhouse.
Today, Pep Stores is owned by Pepkor Holdings, a company with a fascinating history and a diverse ownership structure. Let’s dive into the journey of Pep Stores and uncover who holds the reins today.
The Humble Beginnings of Pep Stores
The owner of Pep Stores, Renier van Rooyen, started his entrepreneurial journey in the 1960s with little more than determination and a keen eye for opportunity. Born into poverty in Kenhardt, Northern Cape, Van Rooyen understood the value of hard work from a young age. His first foray into retail began with a small store in Upington, where he sold second-hand goods and low-priced clothing.
Van Rooyen’s strategy was simple yet revolutionary: cater to the underserved lower-income market. At a time when other retailers overlooked this segment, Pep Stores thrived by offering quality products at affordable prices. By 1965, Van Rooyen officially founded Pep Stores, laying the groundwork for what would become one of South Africa’s most successful retail chains.
The Rise of Pepkor Holdings
Pep Stores’ success didn’t go unnoticed. In 1981, Christo Wiese, a prominent South African businessman, acquired Van Rooyen’s stake in the company. Under Wiese’s leadership, Pep Stores expanded rapidly, eventually becoming part of Pepkor Holdings. Today, Pepkor is the parent company of Pep Stores and several other well-known brands, including Ackermans, Tekkie Town, and Incredible Connection.
Pepkor’s growth has been nothing short of remarkable. With over 5,900 stores across nine African countries and operations in Brazil, the company oversees 1.9 billion transactions annually. Its market cap of R73 billion is a testament to its enduring success.
Who Owns Pepkor Today?
The ownership of Pepkor Holdings has evolved over the years. Here’s a breakdown of the current ownership structure:
| Shareholder | Percentage Ownership |
|---|---|
| Steinhoff International | 44.5% |
| Public Investment Corporation (PIC) | 10.3% |
| Other Institutional Investors | 30.2% |
| Retail and Individual Investors | 15.0% |
Steinhoff International, despite its well-documented financial troubles, remains the largest shareholder in Pepkor. However, the Public Investment Corporation (PIC), which manages South Africa’s Government Employees Pension Fund, has been increasing its stake and now holds over 10% of the company.
The Legacy of the Owner of Pep Stores
Renier van Rooyen’s legacy as the original owner of Pep Stores lives on in the company’s commitment to affordability, quality, and customer satisfaction. His innovative approach to retail—focusing on high turnover and low margins—revolutionized the industry and set Pep Stores on a path to success.
Today, Pepkor continues to build on this foundation, adapting to changing consumer needs and expanding its reach across the globe. The company’s ability to stay relevant in a competitive market is a testament to the vision of its founder and the resilience of its current leadership.
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Conclusion
The owner of Pep Stores may have changed over the years, but the company’s core values remain the same. From its humble beginnings in Upington to its status as a retail giant, Pep Stores has always been about making life more affordable for its customers. Whether you’re shopping for school uniforms, home essentials, or the latest fashion trends, Pep Stores continues to deliver on its promise of value and quality.
As Pepkor Holdings looks to the future, one thing is clear: the legacy of the original owner of Pep Stores will continue to inspire and guide this iconic brand for generations to come.
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