The e-commerce market is a key pillar of the digital economy.Continue reading
Primark international fashion department store will open its first Hungarian shop in Budapest on Tuesday, with a total investment of EUR 8 million, said Maciej Podwojski, Primark’s head of sales in Central and Eastern Europe, at the press launch on Monday.
The 3,100 square meter store will open in the Arena Mall shopping center and the launch will create 180 new jobs, the head of sales noted.
Primark, launched in Ireland in 1969, now has more than 440 stores in 17 countries around the world and employs around 80,000 people. They plan to increase the number of stores to 530 by the end of 2026.
The facade of the first store on Mary Street in Dublin. Photo via Wikipedia.
The company has 12 stores in five countries in the region (Slovenia, Poland, the Czech Republic, Romania, and Slovakia), with the 13th store opening in Budapest on Tuesday.
In addition to women’s, men’s, and children’s clothing and shoes, they will also sell beauty products, accessories, and home furnishings, among other items, highlighted Maciej Podwojski.
Photo via Facebook/Primark
He stressed that the company is putting a strong focus on sustainability. For example, by 2030, it will sell only products made from recyclable or recycled materials and also by 2030, it will halve the chain’s carbon emissions.
When asked about the company’s plans for Hungary, Podwojski pointed out that
they are focusing on the reception of their first store, but he believes that Hungary can “handle” another store.
Primark is an Irish fast fashion retailer, headquartered in Dublin, with outlets across Europe and in the United States. The original Penneys brand is only used within Ireland. The company subsequently expanded outside of Ireland and into Great Britain in 1973. In May 2006, the first Primark store in Continental Europe opened in Madrid, Spain.
Photo via Facebook/Primark
According to the company’s earlier announcement, Primark achieved sales of GBP 9 billion (EUR 10.5 billion) in 2023, up from GBP 7.7 billion (EUR 9 billion) in the previous year, with an operating profit of GBP 735 million (EUR 863 million) last year, and GBP 756 million (EUR 887 million) in 2022.
Via MTI; Featured image via Pexels