Primark Stores Ltd
Contents
Background
Primark Stores Ltd, commonly known simply as Primark, is a subsidiary of Associated British Foods (ABF), a diversified international food, ingredients and retail group which advertises global sales of £8.2bn with 96,000 employees located throughout 44 countries worldwide[1]
On its website, Primark describes itself as 'a retail group in the value sector and operates a total of 187 stores in Ireland (where it trades under the Penneys brand),Holland , Spain and the UK'. Primark state that they employ in excess of 27,500 people and that in the UK, Market researchers TNS have ranked them as the second largest clothing retailer by volume in respect to market share, whilst Verdict Research is reported to have placed Primark as the leading retailer in value clothing. In addition is it claimed that Primark was voted 'Best Value High Street Fashion' by GMTV and ITV viewers[2].
According to the Times, Primark's managing director and Chairman Arthur Ryan’s emphasis 'has been on trading lots of stock and being the cheapest on the high street as part of a drive to build market share'. A former employee is described as saying that “He would look at a product line that was selling well at £5 and cut the price to £3 because it would sell even more.”
The company still sells clothes at unbelievably low prices. According to the Times, it sources mainly from Asia, where it deals direct with manufacturers. It is claimed that it maintains its extraordinary cheap prices by ordering in huge volumes.[3]
Primark is descibed as priding itself on 'being the cheapest place for clothes on the high street - beating even giant Tesco. “£1 in Primark, would be £1.10 in Tesco and maybe £1.60 in Marks & Spencer,” said one retail analyst'[4]
Biographical Information
History
Primark was set up in Ireland by ABF in 1969, when it began trading as Penneys, it later took off in Britain in the late 1990's. Chairman and managing director Ryan is described as having persuaded ABF that one of the biggest growth areas in retail would be value fashion for young people.[5]
Primark is described as having purchased 'a huge portfolio of Littlewoods stores in July 2005'[6].
Current activities
Views
Affiliations
People
In 2007, Primark's chairman and managing director was Arthur Ryan who lives in Ireland at Lansdowne Road (which is known as 'millionaires’ row') and who is a friend of Sir Philip Green[7]
Funding
Clients
Publications, Contact, Resources and Notes
Publications
Contact
- Address:
- Phone:
- Email:
- Website:
Resources
Notes
- ↑ Primark Stores Ltd Background] Primark website. Accessed 21st March 2009
- ↑ Primark Stores Ltd Background] Primark website. Accessed 21st March 2009
- ↑ Davey, J. (2007) Primark oldie’s golden touch: The man who built the high street phenomenon is 71. Will it be as successful when he finally retires? 22nd April 2007. Accessed 21st March 2009
- ↑ Davey, J. (2007) Primark oldie’s golden touch: The man who built the high street phenomenon is 71. Will it be as successful when he finally retires? 22nd April 2007. Accessed 21st March 2009
- ↑ Davey, J. (2007) Primark oldie’s golden touch: The man who built the high street phenomenon is 71. Will it be as successful when he finally retires? 22nd April 2007. Accessed 21st March 2009
- ↑ Davey, J. (2007) Primark oldie’s golden touch: The man who built the high street phenomenon is 71. Will it be as successful when he finally retires? 22nd April 2007. Accessed 21st March 2009
- ↑ Davey, J. (2007) Primark oldie’s golden touch: The man who built the high street phenomenon is 71. Will it be as successful when he finally retires? 22nd April 2007. Accessed 21st March 2009
