Introduction. Why Primark ?
A company which has achieved superior performance in recent years is a AssociatedBritish Foods Plc subsidiary called Primark . Primark opened its first store in June 1969 inIreland, where it operates at Penneys .Today it has
a total of 193 stores operating in
Ireland, Spain, United Kingdom, The Netherlands, Portugal and Germany and is stillaggressively expanding. In the UK, where Primark has its maximum number of stores,138, Primark is second to Asda
s George in terms of thelargest number of clothes sold byvolume, overtaking established reputed companies such as Marks&Spencer
company has had excellent financial performance . It is reported that their profits haveincreased by 10% and sales increased by 20% in the year 2009
even though each of its three main markets were subject to recessionary pressure and a decline in consumer confidence
. Primark has won several awards each year since 2005 and its most recent
Best Budget Store on the High Street at the GMTV High Street Fashion
Awards 2009 (awarded 7th May 2009), Retailer of the Year for the secon
d year in
succession at the BCSC Gold Awards and Value Retailer of the Year at the DrapersRecord Awards.
. Apart from this,
Primark has also been successful in establishing its brand name. Celebrities such as Katie Holmes have been spotted wearing its
and they have also been featured in one of the worlds most premium fashion magazine
What is Primark doing right ?
Currently Primark only operates in Europe where the retail apparel industry grew by 2.1%in 2008, valued at $420.9 billion and is further expected to be valued at $467.6 billion in2010, an increase of 11.1% since 2008.
Apparel Retail in Europe
f3206b008999%40sessionmgr4). Reference Cod
e: 0201-2005. 2009, September.
(Accessed 15 November 2009)