Yes 'repop' is a term used to indicate a re-boxing of a kit from one manufacturer, under the label of another. It's a fairly common practice between a few manufacturers these days, with companies forming a partnership of sorts, in order to share the huge costs of research, development and tooling for new kits.
Not all companies do this, but Revell, for example, share some kits with Dragon and Hasegawa, and the Revell release normally costs substantially less than the original boxing, but tend to be released some time after the original, perhaps two or three years.