Retailer Primark Crossing the Pond, Opens First US Store This Week
The Dublin-based retailer Primark is about to add its first United States location to its more than 285-store roster this Thursday in Boston. The new four-story store will take up 70k SF in the city's popular Downtown Crossing shopping district. The budget-clothing retailer, which is comparable to Forever 21 and H&M, wants to open seven more US stores in the next two years, the next being an outlet at the monstrous King of Prussia Mall in Philadelphia. Ireland's Davy Stockholders predicts a 20 million customer market for Primark as long as it builds a market share with "operational discipline and profitable execution" in the Northeast with a focus on correct brand and price positioning, and the right in-store environment. Primark has seen wild growth in Europe, with sales surging 13% over the past year. [WSJ]
