Primark invests €100m into Spanish expansion
Over the course of the next two years, the retailer will also open stores in Jaén and Lorca as well as a further three new stores in the Comunidad of Madrid
Primark has announced an investment of €100m (£86m) in the Spanish market including opening eight new stores and creating 1,000 jobs.
The company will spend €80m (£69m) on opening the eight new stores and extending one existing store over the next two years.
There are also plans to spend €20m (£17m) on upgrading and refurbishing some of the existing 56 stores in the country.
Primark opened its first store in Spain in May 2006 and plans to open in three new locations in the next 12 months, including its first store in Lanzarote, its first store in Melilla and its first store in Toledo.
Over the course of the next two years, the retailer will also open stores in Jaén and Lorca as well as a further three new stores in the Comunidad of Madrid. The Primark store in Diagonal Mar in Barcelona will also be redeveloped and extended.
Primark Spain will increase its total workforce by over 11% over the next two years with these new stores. The expansion will create over 1,000 new job opportunities across Spain, bringing the total workforce to 10,000.
Carlos Inacio, director general of Primark Spain said: “Spain is Primark’s second biggest market with 56 stores across the country. Today we are proud to announce a significant investment in our store portfolio and long-term growth of Primark Spain. This exciting expansion plan will create employment, positively impact the local communities we are opening in and bring Primark stores closer to our customers across Spain.
“We are very grateful for our loyal customers in Spain who have supported us since we opened our first store 17 years ago. We know they love our offering of the best value fashion, beauty and homeware coupled with an amazing in-store experience and we look forward to bringing them more opportunities to shop with us in the coming years.”
