Primark to expand in Spain: the fashion chain is to invest £90m in its second market after Great Britain
Primark plans to spend around £90m to expand into Spain, its second largest market after Britain.
The fashion chain, which has 408 stores in 14 countries and is owned by Associated British Foods, will open eight locations including in Lanzarote and the Spanish enclave of Melilla in North Africa.
As part of its expansion plan, Primark will hire 1,000 people over the next two years.
New stores: Primark, which has 400 stores in 14 countries, will open eight sites including in Lanzarote and the Spanish enclave of Melilla, in North Africa
Even though many high street retailers are struggling due to fierce competition from online-only brands, Primark, with its low-end prices, has steadily grown.
The retailer said it would keep prices stable despite rising inflation, but warned that rising input costs would hurt its results in the new fiscal year.
Last month it announced it would invest £140million in UK stores over the next two years, betting on its low prices to attract customers as they grapple with a cost crisis life.