The Primark, one of the UK’s rapidly growing fashion chains, is represented around the globe by its 269 stores that adds up to about 10m sq ft of shopping space.
The company has spread its network into France, Spain and Germany. This year, it announced plans to put another store into operation in Boston, Massachusetts, which is projected to open its doors to the public by the end of the following year. The Fashion retailer also negotiates expansion in other places, The Telegraph says.
Primark has recently announced an acquisition of a 250,000 sq ft shopping area from the UBS Triton Property Fund. Both parties are willing to seal the deal in the nearest future. As of now, the negotiated shopping center features other brands’s stores such as Marks & Spencer, H&M and Waterstones. Primark makes quite an odd business decision, since only supermarkets, unlike clothing stores, usually purchase large-scale shopping pavilions, but in Primark’s case, it might be justified by the sales figures of 14pc year-on-year, estimated by the parent company Associated British Foods.
Primark is not an only example of the growing confidence regarding the retail market and economy in general. One of the major players of US fashion, American Eagle Outfitters, should be expected to expand into the UK.
The following sites are under consideration for possible retail spots by the fashion industry giant: at Westfield London in the west of the city and at Westfield’s Stratford City shopping center, as well as at Bluewater in Kent.
American Eagle incorporates over 1,000 stores in the US targeting a 15-25 yearl old age group, offering goods at affordable prices.
10 JUNE 2014, United Kingdom