Primark has successfully ventured into its 17th international market with the launch of a new store in Hungary.
- The new store in Hungary’s Arena Mall spans 33,900 sq ft and marks a significant investment of over €8 million.
- This expansion has created over 180 jobs in Budapest, contributing positively to the local economy.
- Primark’s growth strategy includes adding more stores in central and eastern Europe, with three more openings planned this year.
- The retailer sets an ambitious target to expand its global store count from 440 to 530 by 2026.
Primark has effectively expanded its international presence by entering its 17th market with the inauguration of a new store in Hungary. Located in Budapest’s Arena Mall, the store covers a substantial area of 33,900 sq ft, indicating a significant growth move by the fashion retailer. This expansion signifies an investment exceeding €8 million, underscoring Primark’s commitment to establishing a firm foothold in central and eastern Europe.
The opening of the Budapest store has generated over 180 new employment opportunities, reflecting Primark’s role in bolstering the local economy. This aligns with the company’s strategic focus on workforce growth and community engagement, vital components of its expansion blueprint.
In tandem with its Hungarian debut, Primark plans to extend its reach further across central and eastern Europe. The company has outlined plans to open three additional stores within the region this year, targeting locations in Timisoara, Romania, Bydgoszcz, Poland, and a second site in Prague, Czech Republic. This demonstrates Primark’s aggressive approach towards regional dominance.
Overall, Primark’s expansion strategy is ambitious, aiming to boost its store count from 440 to 530 by 2026. CEO Paul Marchant remarked, “Nearly five years after opening our first store in the region, we’re delighted to celebrate another significant milestone as we enter our 17th international market with the opening of Primark Arena Mall in Budapest, Hungary.”
Primark’s strategic entry into Hungary with an extensive store launch illustrates its commitment to expansion in central and eastern Europe.
