Primark Expands Presence in Eastern Europe with First Store in Hungary
In a strategic move to accelerate its growth plans in Central and Eastern Europe (CEE), Primark has opened its first store in Hungary, located in Budapest. With a significant investment of £6.8m (€8m) and the creation of 180 jobs, the 33,900 sq ft store at Primark Arena Mall marks an important milestone for the Irish fast fashion retailer.
Continued Expansion in the CEE Region
Paul Marchant, Chief Executive at Primark, expressed his pride in the local team for their dedication and hard work that have propelled the brand’s growth in the CEE region. With Hungary now becoming Primark’s sixth market in the region, the retailer aims to open three more stores in Timisoara (Romania), Bydgoszcz (Poland), and a second location in Prague (Czech Republic) later this year. This expansion aligns with Primark’s global goal of reaching 530 stores by the end of 2026.
Global Expansion and Fresh Brand Identity
Primark’s recent store openings, including a flagship store in Madrid’s Salamanca district, highlight the brand’s commitment to international growth. Additionally, the unveiling of a new brand identity, alongside the launch of the ‘VIVA Summer’ campaign and latest summer collection, reinforces Primark’s position as a leading fashion retailer in the global market.
In conclusion, Primark’s entry into the Hungarian market signifies a significant step in its growth strategy in the CEE region, as the brand continues to expand its presence and offerings to customers worldwide.