We have Primark stores in Sweden

Primark in crisis: is the cheap chain threatened with THIS fate?

Crowds in front of the shop, crowds, full shopping bags and hysterical teenagers. This always the same image accompanied the opening of everyone in the past PrimarkBranch in Germany.

And that until today. And yet the euphoria surrounding the Irish cheap fashion chain has subsided in recent years, according to the "Wirtschaftswoche". Only recorded about new openings Primark Growth.

Primark with less profit - new branches help

Those in charge don't like it at all. It probably reminds you of H&M, which has not seen rising profits for years. In 2018, the Swedes even had to close eight stores in Germany.

Growth has not only slowed at Primark and H&M - Zara and Co. are also affected. The trend runs through the entire fast fashion industry.

Back to Primark. The group is particularly concerned about the 30 stores in Germany. Because they are no longer doing so well on the fashion company's balance sheet.

Five new Primark branches in Germany

The new branches, which helped Primark to increase sales in Germany last year, have just opened in Bielefeld, Münster, Stuttgart (Königsstrasse), Munich and Ingolstadt.

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There is a Primark branch in these three cities in the Ruhr area:

  • Dortmund
  • eat
  • Gelsenkirchen

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Primark is still expecting an increase of five percent in the euro zone. Nevertheless, growth in Spain, France and Italy was weaker due to the Germans' apparent boredom with Primark. According to the report, it was three percent lower than last year.

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Primark without online offer

It looks completely different in the USA. There is currently a bit of hype among Americans about the Irish fashion chain. Branch number ten opens in New Jersey in the fall.

Meanwhile, Primark's competition scores with online trading. In the meantime, H&M is also seeing its first successes in Europe. The reason for this is, according to the "Wirtschaftswoche", the consistently implemented digital strategy of the Swedes.

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This is Primark:

  • Founded in Dublin, Ireland in 1969
  • The company has been producing in low-wage countries since the 1970s
  • Primark now has branches in numerous countries, such as the USA, Spain, France and Slovenia. The first German branch opened in Bremen in 2009

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Primark has not dealt much with online business so far. Above all, the Irish want to score points with customers with the business in the shopping street. How long they will continue to drive well with this model remains to be seen, after all, more and more people are buying clothes online. (vh)