US shoppers are about to be treated to Primark’s budget-friendly fashion buys. The high street brand plans to open a store in Boston.
The shop, due land in the city’s Burnham Building, will open its doors to customers towards the end of 2015. The brand’s already signed a lease for 70,000 square feet of selling space. The historic property used to be home to a Filene’s department store before the company merged with department giant Macy’s in 2006.
The Boston store is just the start of Primark’s US invasion. The label’s in negotiations to lease space in more locations in the north east of the country in 2016.
‘After extensive research, it has been decided to take the concept to consumers in the U.S.A,’ said Primark’s parent brand Associated British Foods (ABF).Primark opened as a single shop Penneys in Ireland in 1969. Since then it’s become one of the fastest-frowing retail businesses in western Europe.The brand already has more than 270 stores in nine countries, from Spain to Germany and Portugal to France. At the start of March, it reported a 26% growth in profits to £298m in the past six months.Stephen Springham, Senior Retail Analyst, Planet Retail, commented: ‘Unlike most of its peers, Primark has not taken the low-risk franchise option. All its international stores are company-owned, the business effectively backing itself and putting its money where its mouth is.
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