Value retailer Primark could prove to be more popular in Germany than the UK, with its Berlin opening last week marking the retailer’s most successful launch yet.
John Bason, finance director at Primark owner Associated British Foods, tipped the business as “spearheading the creation of a value sector” across Europe.
He said: “Berlin was the best ever opening and it’s hundreds of miles from the nearest store. It took us 10 years to build Primark in the UK, but it’s taking a much shorter time in Germany.”
Primark, which has eight stores in Germany, told analysts last year there was potential for 150 stores.
Panmure Gordon analyst Graham Jones said: “We are more confident than ever that Primark’s expansion across continental Europe, and in Germany in particular, will drive significant growth in the medium term.”
The retailer, which debuted in Germany in 2009, posted a 13% sales surge in the 16 weeks to June 23, bringing its revenue rise for the first 40 weeks of its financial year to 14%.
Bason said here in the UK, Primark received a sales boost over the Jubilee as it sold “Union Jack clothes galore”.