Value fashion powerhouse Primark, which recently witnessed surge in sales, is planning to expand its presence outside the UK. The retailer is planning to open 29 new stores this fiscal. Completely dependent on bricks-and-mortar stores sales, the fashion retailer is mulling to spread its budget fashion stores across Europe and into the US as well.
“There’s a very viable strategy without trading online,” Primark’s parent firm – Associated British Foods Chief Executive Officer George Weston said, adding, “The best value is to be found on the high street, not online.”
I also stated that the underlying growth of the Group at constant currency was strong in the first half. Primark delivered a substantial increase in selling space which, together with its strong consumer offering, contributed to a further increase in our share of the total clothing market.