Primark has announced that it will enter its 15th market, Slovakia, after signing a lease to open a store in Bratislava.
The 39,400 sq ft store will form part of an extension to the Eurovea shopping centre and is due to open in 2022.
Spanning two floors, it will offer women’s, men’s and children’s wear, as well as homeware, accessories and beauty. It will sell several of Primark’s sustainable ranges, which include denim, nightwear and bedding, all made from 100% sustainable cotton.
The new store in Slovakia will mark Primark’s entry into a fourth Central Eastern Europe market. Primark opened its first store in the region in Ljubljana, Slovenia, in June of this year, and has also announced plans to open in Poland and the Czech Republic in 2020.
CEO Paul Marchant said: “We are delighted to announce that we will open our first store in Slovakia, marking Primark’s expansion into our 15th market. In the year of our 50th anniversary, we are incredibility proud to see our growth continue across Europe and the US. We currently have 376 stores across 12 markets and next year we will open our first stores in Poland and the Czech Republic. We are also excited to expand our store footprint in the US with stores opening in New Jersey and Florida in 2020, and further leases signed in Chicago and Philadelphia.”
Meanwhile, Primark’s parent company Associated British Foods (ABF) reiterated its outlook for the coming financial year ahead of its AGM today (6 December).
ABF chairman Michael McLintock said: “Looking further ahead, Primark has a strong pipeline of good-quality sites. We expect margin for the full year to be only a small reduction on that achieved last year, on a lease-adjusted basis, with the effect of a weaker sterling on purchases being largely offset by cost reductions in both the cost of goods and overheads.”
McLintock added that ABF businesses are prepared for Brexit, and have contingency plans in place to account for any disruption. It also plans to open more Primark stores in France and Spain.