The low-cost clothing chain Primark announced on Monday an “ambitious growth plan” for France, with the planned opening of seven new stores, an expansion in Lyon and the creation of 800 jobs.
The brand will open these seven new stores between the end of 2022 and the end of 2023 (in Brest, Nantes, Angers, Rouen, Mulhouse, Saint-Etienne and Grenoble). The group will also expand its sales area in Lyon, in the Part-Dieu shopping center, he told a press conference. In total, the brand will invest 100 million euros and deploy more than 29,000 square meters of additional sales area.
Established 10 years ago in France, Primark currently has 20 stores, employing 5,820 employees, for a sales area of 100,000 square meters, detailed its France general manager, Christine Loizy.
Inflation Pass Through
Globally, the brand aims to grow from 409 stores currently to 536 stores by September 2026. It employs a total of more than 70,000 people in 14 countries in Europe and the United States.
Primark, which belongs to the British group Associated British Foods (ABF), achieved a turnover of 7,700 million pounds sterling (8,900 million euros) during its 2021-2022 financial year, a jump of 43% in one year.
Asked about a possible impact of inflation on the cost of goods, Christine Loizy admitted that “on the adult winter collection” worldwide, the group “was forced, for certain products, to increase prices (… ninai) about 3 to 4%.
The director general, however, stressed that “for more than 1,000 references” of children’s clothing the prices had not changed, so as not to penalize families at the beginning of the school year.
Source: BFM TV
