Brno, 21 Feb (BD) – According to Jose Luis Martinez de Larramendi, Primark’s Retail Manager for the US and Central- and Eastern Europe, as quoted in Prague Morning on Wednesday, the company had been looking for a second location to become part of their expansion in the Czech Republic. “As the second-largest city in the country, Brno offers a great opportunity to reach other customers,” he explained. As for expanding in Central Europe, Jan Kotrbacek, Head of Retail for Cushman & Wakefield explained to Prague Morning: “Primark is one of the world’s leading clothing retailers. The Central European market is important for the brand.”
In May, the first Czech Primark will officially open in Wenceslas Square in Prague. “I assume that Primark will pay 5% lower prices in Brno than in Prague; and of course, for classic fashion stores in Brno, this will mean trouble, especially for the shops in shopping malls that are already not doing so well,” said Tomas Prouza, head of the Confederation of Commerce and Tourism of the Czech Republic to Czech newspaper Blesk.
Primark sells everything from baby and kids clothes to women and men’s apparel, homewares, accessories, beauty products, and confectionery, for low accessible prices. Primark’s main products are fast fashion – products based on current fashion-show trends. They have a high turnover rate with items sold quickly after they are made. Additionally, due to their well-known brand and a large already-established amount of loyal customers, the company has low advertising costs, further allowing them to offer their famously low prices.
The company was founded in Ireland in 1969 under the name Penneys. When the store expanded to the United Kingdom in the 1970s, they had to rename the company due to the American rival J. C. Penney, after which they continued as Primark in branches outside of Ireland. Today, they operate over 350 stores in eleven countries across Europe and America.