Irish clothing and accessories company Primark wants to invest more than 40 million euros in Portugal through the opening of four new stores and the creation of 500 new jobs, it was announced today.
The interest in the Portuguese market involves investing “more than 40 million euros,” Primark said in a statement, adding that it will “open four new stores” in four different cities and expand the store it has in the Colombo Shopping Centre in Lisbon.
With this investment, Primark Portugal increases its presence in the country to “a total of 14 stores, expanding its commercial space by more than 30%”, quoted a company spokesperson, noting that it will create 500 new jobs, which will increase the number of people employed by the company in Portugal to more than 2,200 people.
This announcement comes a month after Primark celebrated 15 years of presence in Portugal, with the opening of its first store in May 2009 at the UBBO Shopping Centre in Amadora.
Currently, Primark has 10 stores in Portugal and a geographical coverage that goes from the city of Braga to Loulé, and the investment of 40 million euros will allow the brand to open doors in four cities”: Montijo (Alegro Montijo Shopping Centre), Guimarães (Espaço Guimarães Shopping Centre), Viseu (Palácio do Gelo Shopping) and Covilhã (City Center Covilhã).
The investment in Portugal is part of the retailer’s “ambitious growth” plans in “new and existing markets,” with the aim of reaching the milestone of 530 stores by 2026.
In May this year, Primark entered its 17th market with the opening of its first store in Budapest, Hungary.
Samantha Gannon
info at madeira-weekly.com
