Primark, the reputed fashion retailer based in Dublin, has expressed its plans to speed up the pace of US expansion.
Following strong sales rebound from the deadly pandemic, the retailer has, reportedly, said that it will open more than 100 stores in the course of next five years. And if that happens, it would increase the number of Primark stores in the world from 398 to 530.
In the US alone, the retailer plans to increase the number of stores from 13 to a whopping 60 during the same period.
Notably, Primark has already signed five leases in New York, which also includes Albany, Brooklyn as well as Long Island.
The fashion stalwart believes that with its current portfolio trading very well, Primark seems to have established a strong foundation to speed up its expansion in the US market.
Here it is important to mention that Primark’s US stores have been lately impacted by the ongoing global supply chain disruption owing to congestion in international shipping and at ports.
Primark generated £7.79 billion in 2019, and is known for kidswear, womenswear, menswear, homeware and footwear, amongst others.