Primark
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- "Penneys" redirects here. For , see .
Primark and off the rail clothing
Primark is known for selling clothes at the budget end of the ready-to-wear market, often stocking copies of high fashion clothing within weeks of them appearing (as reported in magazines such as Vogue). The company's success is based on sourcing supply cheaply, having stock in store quickly and moving the product at low margins.History of Penneys
The original Penneys store was located in Mary Street, Dublin, Ireland, in 1969, with the first UK Primark store opening in 1973. In the early 1990s, Primark acquired BHS's Republic of Ireland stores, and rebranded them as Penneys. (BHS later temporarily re-entered the Irish market, but have since withdrawn again).
Prior to 1997, Penneys often shared sites with Power Supermarkets (PSL), also an ABF subsidiary at the time. However, this practice ceased after the sale of PSL to Tesco in 1997. ABF decided to maintain control of Primark, despite it being the only non-food retailer under its control.
Major property acquisitions
In the late 1990s, the company acquired several premises from the department store chain C&A, which withdrew from the United Kingdom retail market in 2001. It also purchased the former Lewis's store in Piccadilly, Manchester. Its UK headquarters in Reading is based in a former Co-Op department store.In February 2005, Primark bought six former Allders store sites from their administrators, Kroll.
In July 2005 Primark/Associated British Foods purchased the 120-branch Littlewoods retail chain for £409 million. Some of the stores (variously reported as 30 or 50) will reportedly be converted into branches of Primark, but the majority are expected to be sold on to other retailers. The Littlewoods catalogue business has been retained by the Barclay brothers, and will continue to operate under the Littlewoods brand.
In November 2005, a fire at a TNT Logistics warehouse in Lutterworth destroyed up to half of Primark's UK stock. Shortages in the 2005 Christmas shopping period were anticipated.
In 2006, the company is planning open a branch in Madrid, Spain.
26 January 2006 saw the opening of a new four-storey Cardiff shop, and a large new store in Mullingar, Ireland.
In December 2005, Primark acquired the lease of the former Allders site on Oxford Street in central London, and is expected to open a store there in 2007.
Brands
The company owns several brands, including:
- Atmosphere — womenswear
- Cedarwood State — casual menswear
- Denim Company — casual mens and childrenswear
- Butler & Webb — formal menswear
- Early Days — babywear
- Rebel — boyswear
- Active — sporting boyswear
- Secret Possessions — lingerie
- Young Dimension — girlswear
References
External links
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