The Irish discount clothing retailer Primark plans to expand its chain in Germany from 22 to 29 branches this year and next year, the chief financial officer of Primark’s parent company, the ABF Group, told Handelsblatt in an interview.
John Bason, the CFO of ABF Group, said Primark will open seven stores in Berlin, Stuttgart, Bielefeld, Munich, Wuppertal, Ingolstadt and Bonn. The company plans to boost gross revenue in Germany to €900 million ($954 million) this year, he said.
The executive also indicated that Primark may shift its strategy, which currently focuses on large cities, and open stores in mid-sized cities.
The clothing retailer first entered the German market in 2009 with a storefront in Bremen. Though the clothing market has become fiercely competitive, Mr. Bason said Primark sees great potential in Germany.