Irish discount clothing retailer Primark plans to expand in Germany, growing from 22 to 29 branches this year and next.
The chain will open seven stores in the country this year, John Bason, chief financial officer of the chain’s parent company ABF Group, told Handelsblatt. The London-based company plans to boost gross revenue in Germany to €900 million ($959 million) this year with the new stores in Berlin, Stuttgart, Bielefeld, Munich, Wuppertal, Ingolstadt and Bonn, he said.
The clothing retailer first entered the German market in 2009 with a store in Bremen. Now, with increasing competition from rivals such as OVS and C&A amid tough market conditions, Mr. Bason also indicated that Primark may shift its focus from large cities to open stores in mid-sized centers.
The German retail clothing market shrank to €62.7 billion last year, down one percent as chains suffer from high costs, excessive expansion and online competition.