Primark stores ltd is a major retail group employing over 10,000 people. A company which has achieved superior performance in recent years is an associated British Foods plc subsidiary called primark. Primark opened its first store in june 1969 in Ireland, where it operates at Penneys. Today it has a total of more than 193 stores operating in Ireland, Spain, UK, the Netherlands, Portugal and Germany and is till aggressively expanding . in the UK, where primark has its maximum numbers of stores. Primark is seconds to Asda’s George in terms of the largest numbers of clothes sold by volume, overtaking established reputed companies such as Marks & Spencer. It is reported that their profits have increased 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 2005and its most recent awards are “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 second year in succession at the BCSC Gold Awards and Value Retailer of the year at the Drapers Record Awards. Apart from this, primark has also been successful in establishing it brand name. celeberties such as Katie Holmes have been spotted earing its Clothes and they also been featured in one fot eowrlds most premium fashion magazine Vogue.
Primark has numerous competitors such as New Look, H&M and TK Maxx although its biggest competitor in the UK is Asda’s clothing brand George. Primark has managed to increase sales and make profits during turbulent economic climate even when well established brands like Next have not been able do so. Primark adopts the “no frills” strategy which many successful business in other industries like Ryan air have adopted. They describe themselves as having “a lean business which responds quickly in the market place, has short lines of...
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