Variety discount retailer Pepco Group has entered the Bosnia and Herzegovina market with a new store opening as it expands its European footprint.

The retailer, which operates the Pepco and Dealz brands in Europe and the Poundland brand in the UK, will open its Pepco store in Sarajevo on 12 September.

Later in the year, Pepco will open more stores in locations such as Mostar, Livno, Gradačac, Kakanj, Čitluk and Lukavac.

The debut in Bosnia and Herzegovina comes after the brand’s successful expansion into Western European markets, such as Germany, Italy and Portugal, in May this year.

It also comes after Pepco closed a debt refinancing, with its inaugural bond issue of €375m ($403.97m) in June this year.

The retailer has targeted at least 550 net new stores opening in fiscal year 2023 (FY23) under the Pepco brand. It will also expand its Dealz brand network in Poland.

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In addition to improving the accessibility of its product offerings, the expansion will improve the economy by creating thousands of net new jobs across Europe in FY23.

Pepco Group CEO Trevor Masters said: “The opening of the first Pepco store in Bosnia and Herzegovina represents a milestone in the Group’s profitable store expansion programme – our biggest source of value creation. Pepco is well placed for future success, supported by its market-leading customer proposition as we focus on building a bigger, better, cheaper and simpler business.”

With the latest expansion, the company now operates in 21 territories across Europe, with Pepco stores in 19 countries.