Primark, the international fashion retailer, is stepping up its U.S. expansion with the announcement of three new store locations in the New York region: City Point in Brooklyn; Roosevelt Field in Garden City, Long Island and Crossgates Mall in Albany. Primark now has five new leases signed in the New York region, with its Jamaica Avenue store in Queens set to open next year, and another in Green Acres in Nassau County. A new store lease in Tysons Corner, Washington, was also signed earlier in the year.
The new leases continue the Irish headquartered retailer’s steady U.S. expansion path since opening its first store in Boston six years ago, the company said. In the past financial year, almost a third of Primark’s new store openings were in the U.S., including the most recent launch in September at Fashion District, Philadelphia, its 13th store in the country.
Primark intends to accelerate the pace of expansion in the U.S. market, building on strong trading and a growing brand awareness. Over the next five years, Primark expects the U.S. store estate to grow to some 60 stores. The success of recent openings outside of its existing North-East footprint — in Sawgrass Mills, Florida and State Street, Chicago — has shown that Primark’s unique formula of fashion and homewares at great value low prices is resonating more widely. The US business performed well in the past financial year, delivering like-for-like sales growth of 6% (excluding its downtown Boston store) on two years ago and a good profit margin.
“Six years after we opened our first store in Boston, it’s clear that U.S customers – from Florida right up to Chicago – are loving the unique Primark offer. With our current portfolio of 13 stores trading really well, it feels like we’ve established a strong foundation from which to accelerate our expansion in the US market.” said Paul Marchant, CEO Primark. “The three new store locations in the New York region announced today are important new additions to our offer and the team is working hard to convert the sizable growth potential we see in the market into more new Primark stores — and more loyal Primark customers. The future for Primark in the U.S. is looking very bright.”
Reflecting the step-up in the pace of expansion in the US, Primark has strengthened its leadership team with the appointment of a new president to lead its U.S. operations. Kevin Tulip, who most recently led Primark’s Benelux business, will lead the retail operations in the US. Former President Andy Stewart is taking on the new role of director of business development for the U.S., working alongside the property team on the ground.
