Fast fashion retailer has biggest expansion in 10 years

Photo credit courtesy of Primark

Fast fashion retailer Primark is undergoing its biggest expansion of stores since 2006, with 29 new stores planned to open in the current fiscal year - mainly outside of the UK.

Although awareness of responsibly-sourced fashion is growing, it appears that Primark is holding strong. Despite the pressure on UK chains after the fall of the pound due to Brexit.

Associated British Foods PLC, the company that owns the chain, has seen their shares rise to 4.8 per cent last week as Primark's UK stores saw a 2 per cent like-for-like sales increase in the 24 weeks leading up to 4th March. 

Primark was one of the 23 brands being produced inside the Rana Plaza factory in Bangladesh that collapsed in April 2013, killing more than 1,100 people and injuring a further 2,500. The brand continues to work with suppliers in China, India and Bangladesh.

 

newsRuby AbbissComment