Primark has made a significant leap in its global expansion strategy by opening four new stores in one day.
- These new stores are located across the UK, US, France, and Spain, adding a total of 130,000 square feet of retail space.
- The expansion includes a £37 million investment and creation of 580 new jobs, demonstrating Primark’s commitment to growth.
- For the first time, Primark has entered the market in Tours, France, marking a key milestone in the company’s history.
- With its ‘halo effect’, Primark aims to positively impact local economies and adjacent businesses.
Primark has achieved a remarkable feat in its ongoing global expansion efforts by simultaneously opening four new stores across different continents. This development signifies a major step in Primark’s strategy to enhance its international presence.
The stores, launched in a single day, represent a substantial £37 million investment. This expansion adds a total of 130,000 square feet to Primark’s retail space, indicating the company’s solid commitment to reaching a broader customer base.
In the United Kingdom, a new store was unveiled at Glasgow Fort, becoming the 21st Primark outlet in Scotland and the 195th in the UK. This £7.5 million site is part of Primark’s broader £100 million investment strategy in the UK for the current year.
The United States also saw the opening of another store, located at Queens Center, New York. This addition marks Primark’s 28th store across 11 US states, reflecting the brand’s increasing footprint in North America.
On the European front, Primark entered the French market with a new store in Tours at the L’Heure Tranquille shopping centre. This opening is significant as it creates 100 new jobs, contributing to the local economy and offering more employment opportunities.
In Spain, Primark relocated its Leganés store to a more expansive location within the Parquesur shopping centre in Madrid. This move effectively doubles the store’s size, illustrating Primark’s strategy to adapt and grow within existing markets.
Paul Marchant, the Chief Executive of Primark, expressed enthusiasm about this expansion, highlighting the ‘Primark halo effect’, which is expected to elevate the attractiveness of the shopping centres around these new stores.
Celebrating its 55th year in business, Primark now boasts a total of 457 stores spread across 17 countries, reinforcing its status as a global retail leader.
Primark’s recent store openings mark a pivotal chapter in its ongoing expansion and commitment to enhancing its global reach.
