Primark has reaffirmed its commitment to UK retail, with plans to invest £140 million over the next two years in its UK store estate.
This will include the opening of at least four new stores in Bury St Edmunds, Craigavon, Salisbury and Teesside Park. The investment creates at least 850 new jobs and increases selling space by more than 160,000sq ft, in a boost to local shopping areas.
Alongside the new stores, Primark will extend and invest in existing stores and will relocate its stores in Bradford and High Wycombe to higher profile locations. In response to the growing popularity of its Home range, a second dedicated Primark Home space will open in its Liverpool store, following on from the success of Primark Home in Merry Hill, West Midlands.
This investment builds on the recent launch of the retailer’s Click + Collect trial.
As part of Primark’s commitment to create a great in-store experience for everyone, it will refurbish and upgrade stores on high streets, shopping centres and retail parks. This work will include improving and updating décor and fixtures within stores. The continued roll-out of LED lighting across its UK store portfolio is also included, as Primark progresses its ambition to halve its carbon footprint across its value chain by 2030.
“The UK is our biggest market and, as we continue to grow and expand our business internationally, we remain as committed as ever to investing in our stores to offer more customers our great value clothing, beauty, homewares and much more,” commented Paul Marchant, chief executive of Primark. “Busy towns and cities benefit us all – we want to see thriving high streets and shopping centres where people come together and enjoy spending time. Through today’s investment, we’re playing a part in ensuring that UK retail continues to grow and thrive and give people another reason to visit their local high street.”
Next year will mark 50 years since Primark opened its first store in England, in Derby in 1973. It continues to accelerate its pace of international expansion, opening 27 new stores and an additional 1 million sq ft of new selling space this financial year, in line with its aim of reaching 530 stores by 2026.
It is focusing this expansion on the US, its European markets of France, Italy and Spain, as well continuing to grow in Central and Eastern Europe, with stores set to open in Romania and Slovakia this financial year.
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