The contract concluded between CCC and Pepco could be described as “swapping of seats”.
The CCC Group decided to withdraw from the Austrian market, where it operated through 64 stores. Exit from this market will take place through the implementation of several activities. First of all, the existing 29 leases in shopping centers located in Austria will be transferred to the Pepco Group, the owner of a chain of stores with clothing and home products. Secondly, 14 lease agreements are to be terminated, and in 3 other locations the CCC stores will be converted into HalfPrice stores belonging to the CCC Group and competing with the TK Max store chain. All these activities are in line with the strategy of the CCC Group, which has planned to focus on the markets of Western Europe. On the other hand, the takeover of lease agreements by the Pepco Group is also the implementation of the announced plans aimed at internationalization of the activity.
It is worth recalling that recently the CCC Group has already made several important decisions, incl. sale of a part of eobuwia shares.