Primark builds on fast fashion success

British fashion retailer Primark’s £200m (€287m) profits haul crowns another successful year for the chain, which is the UK’s second largest clothing retailer by volume

British fashion retailer Primark’s £200m (€287m) profits haul crowns another successful year for the chain, which is the UK’s second largest clothing retailer by volume.

The group puts its rapid growth down to a combination of competitive pricing, strong high street locations and a clear focus on its target market in the under-35s age range. It is a leader in “fast fashion”, when catwalk trends are quickly turned into more cheaply priced clothes for the high street.

Now the company, which is wholly owned by Associated British Foods (ABF), is expected to outsell its rival George at Asda, with a 18.4% clothing market share this year, compared to last year’s 14.3%.

The original Penneys store was set up in Dublin in 1969 by Arthur Ryan, still chairman of the company at 71.

It was not until ABF took over a number of premises formerly belonging to C&A and was rebranded Primark outside Ireland that the retailer came to notice.

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