Primark Essay
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Primark stores ltd is a major retail group employing over 10,000 people. A company which has achieved superior performance in recent years is an associated British Foods plc subsidiary called primark. Primark opened its first store in june 1969 in Ireland, where it operates at Penneys. Today it has a total of more than 193 stores operating in Ireland, Spain, UK, the Netherlands, Portugal and Germany and is till aggressively expanding . in the UK, where primark has its maximum numbers of stores.
Primark is seconds to Asda’s George in terms of the largest numbers of clothes sold by volume, overtaking established reputed companies such as Marks & Spencer. It is reported that their profits have increased by 10% and sales increased by …show more content…
Primark has managed to increase sales and make profits during turbulent economic climate even when well established brands like Next have not been able do so. Primark adopts the “no frills” strategy which many successful business in other industries like Ryan air have adopted. They describe themselves as having “a lean business which responds quickly in the market place, has short lines of management , good buying and excellent distribution”.
Furthermore, unlike its competitors, primark specifically targets people under the age of 35. these are the people who are the most fashion conscious. Primark has excellent “time to market” and it is said that it takes them a maximum of 6 weeks to get the latest trends from the catwalks to the shop floors. Primark has very clearly positioned themselves as being at the absolute bottom end of the market in terms of prices unlike some of its competitors such as Marks and Spencer which have mid range prices. Primark has a clear marketing strategy where it provides the young generation with the trendiest clothes at the lowest prices possible. This is further emphasized by its company slogan “look good pay
Primark stores ltd is a major retail group employing over 10,000 people. A company which has achieved superior performance in recent years is an associated British Foods plc subsidiary called primark. Primark opened its first store in june 1969 in Ireland, where it operates at Penneys. Today it has a total of more than 193 stores operating in Ireland, Spain, UK, the Netherlands, Portugal and Germany and is till aggressively expanding . in the UK, where primark has its maximum numbers of stores.
Primark is seconds to Asda’s George in terms of the largest numbers of clothes sold by volume, overtaking established reputed companies such as Marks & Spencer. It is reported that their profits have increased by 10% and sales increased by …show more content…
Primark has managed to increase sales and make profits during turbulent economic climate even when well established brands like Next have not been able do so. Primark adopts the “no frills” strategy which many successful business in other industries like Ryan air have adopted. They describe themselves as having “a lean business which responds quickly in the market place, has short lines of management , good buying and excellent distribution”.
Furthermore, unlike its competitors, primark specifically targets people under the age of 35. these are the people who are the most fashion conscious. Primark has excellent “time to market” and it is said that it takes them a maximum of 6 weeks to get the latest trends from the catwalks to the shop floors. Primark has very clearly positioned themselves as being at the absolute bottom end of the market in terms of prices unlike some of its competitors such as Marks and Spencer which have mid range prices. Primark has a clear marketing strategy where it provides the young generation with the trendiest clothes at the lowest prices possible. This is further emphasized by its company slogan “look good pay