Primark accelerates growth plans in Eastern Europe with first store in Hungary
Primark has opened a new 33,900 sq ft store in Budapest – its first in Hungary which marks the Irish fast fashion retailer’s 17th international market.
The new store, which the retailer says “marks an important milestone”, has seen a £6.8m (€8m) investment and is part of its ambitious growth plans in Central and Eastern Europe (CEE). It has also created 180 jobs.
Paul Marchant, Chief Executive at Primark, said: “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.
“I am extremely proud of our local team, whose dedication and hard work have driven our growth across the CEE region. We are excited to introduce our unique Primark offering to customers in Budapest, bringing something new and exciting to the market.”
Hungary becomes Primark’s sixth market in the CEE region, where it now has 13 stores. Primark will open three further stores in the region later this year, with locations in Timisoara in Romania, Bydgoszcz in Poland and a second location in Prague in the Czech Republic.
The opening of the new store builds on Primark’s global expansion plans, as it aims to reach 530 stores by the end of 2026.
The retailer currently has over 440 stores, including a brand new flagship in the heart of Madrid’s Salamanca district, which opened late last week.
Last week also saw Primark unveil a fresh brand identity along with its latest summer collection and new campaign, ‘VIVA Summer’.
