Primark wants to double its presence in Spain

“Spain is still a relatively new market for Primark. We have ample room to grow.” affirmed John Bason, the CFO of the Irish fashion chain, which has already become the largest fashion retailer in Spain by market share. According to the data consultants Kantar Worldpanel it has a 9% market share and had 8.9 million customers last year. Primark also estimates that it could double its commercial space in Spain in the medium term. The Gran Vía store in Madrid that opened last October has been one of the biggest sources of growth for the company. It is the second biggest store for the company and has the second highest sales behind a Manchester outlet. Thanks to this new Madrid store, Primark ended the financial year of 2015 with a growth in sales of 16%, with earnings of up to €920 million from their Spanish operations. “Spain is the third most important market for Primark” Bason added. … via @CincoDiascom

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