Primark

{{ expand }} {{Redirect1|Penneys|the U.S. retailer|J.C._Penney}} {{Infobox_Company | company_name = Primark Stores Limited| company_logo = 225px | company_type = Private_Limited_Company_by_shares - subsidiary of Associated_British_Foods (ABF) plc| company slogan = Look Good, Pay Less| foundation = Dublin, Ireland, 1969| location = Dublin and Reading| key_people = Arthur_Ryan, Chairman and Managing_director, Seamus M. Halford, Deputy Managing Director, P. Prior, Finance Director| num_employees = | revenue = EUR 1 billion (2005) http://archives.tcm.ie/businesspost/2006/07/02/story15439.asp| industry = Retailer| products = Clothes and Linen | homepage = primark.co.uk }} '''Primark Stores Limited''' is a Chain_store retailer in the United_Kingdom, Republic_of_Ireland and Spain. It has around 140 branches. In the Republic of Ireland, where the company's main headquarters are based, it trades as '''Penneys'''. The company is a subsidiary of Associated_British_Foods (ABF) plc, employing over 14,000 people. The company positions itself as marketing fashionable clothing at competitive prices. ==Primark's Market Position== Primark is known for selling clothes at the budget end of the market. The company's success is based on sourcing supply cheaply and the fast turn around of stock in stores. ==Penneys History== Image:Primark_Leeds_City_Centre.JPG City Centre]] The original Penneys store was located in Mary Street, Dublin, Ireland, in 1969, with the first UK Primark store opening in 1973. In the early 1995, Primark acquired Bhs's OneUp chain. In line with corporate policy, the Irish stores were rebranded as Penneys, and the British stores were rebranded as Primark. OneUp was Bhs' attempt to enter the budget market and so keep its bottom 15-20 stores profitable. This purchase more than doubled the (then) size of Primark. (Bhs later temporarily re-entered the Irish market, but have since withdrawn again). As of 2000, Primark's Hounslow store in West London was the store with its biggest cash turnover. It is one of the former OneUp stores. Primark is a retail group in the value sector employing over 17,500 people, increasing to 26,000 over the next year. Primark operates a total of 148 stores in the UK, Spain and Ireland, where it trades under the Penneys brand. By March 2007, a further 23 stores will be trading. It was first established in 1969 as Penneys in Mary Street Dublin. On 20th September 2006, Primark opened its second store in Spain in Nueva Condomina Shopping Centre, Murcia. In the current financial year (starting 17 th September 2006), six new Primark stores have opened – Burton on Trent, Camberley, Glasgow Parkhead, Inverness, Murcia (Nueva Condomina) and Plymouth (Drake Circus). One store has added additional space – Athlone. While in the last financial year, twenty seven new Primark stores were opened, six smaller stores closed due to relocation and t hree stores added additional space. Primark Stores Ltd., a subsidiary of Associated British Foods plc (ABF), a publicly quoted Company primarily involved in food production. Renowned companies/brands within in the group include British Sugar”, “George Weston Foods”, “Twinings Tea”, “Ryvita”, “Ovaltine”, “Mazola” and “Kingsmill.” Primark Value Proposition: Primark targets young, fashion-conscious under 35’s, offering them fashion basics at value for money prices. Almost half of sales are in Womenswear. A quarter of sales are dedicated to Menswear and Childrenswear , with other items (including household) constituting the remaining sales. Buying and Merchandising teams in Reading (Berkshire)) and Dublin travel internationally to source and buy up-to-the-minute fashion basics that best reflect each season’s key fashion trends. Primark’s offer to the customer is one of fashinable merchandise at low cost, backed by Primark’s service promise. Primark prides itself on its loyal customer base. Primark is a member of the Ethical Trading Iniative. Advertising: In September 2006, Primark received the ‘Value for Money’ Award at the Prima Fashion High Street Awards, for the second consecutive year. In July 2006, Primark was awarded ‘Town Centre Deal of the Year’ at the Retail and Leisure Awards and the ‘UK Retailer of the Year’ Award at the prestigious 2006 RL Global Awards. In December 2005, Arthur Ryan, Primark’s Chairman & Managing Director was named ‘Most Influential Person in High Street Fashion’ by Drapers Record. Primark was awarded the “Shop Agents Society Town Centre Retailer of the Year 2005”. In May 2005, it was awarded the “GMTV High Street Fashion Award” in the “Best Budget Fashion Section” and in November 2005 the “High Street Retailer of the Year” at the Retail Property and Development Awards 2005 A strong consumer proposition has been developed for the Primark brand and embodied in the line “Look Good, Pay Less” which communicates Primark’s value-based offering in a precise manner, to its core target audience. The purpose of the advertising in the first instance is to support this strong value proposition and secondly to tailor the media solution to the store. Communication models are created and the imagery of the advertising is young, modern and dynamic to reflect the core target audience. A combination of media is used to create, impact upon and tightly target new customers. HR: Primark has invested in developing a corporate culture that is dynamic, resourceful and customer focused and that accurately reflects the product offering. As Primark prepares to open a new store in a new location, the HR team focuses on raising the profile and reputation of Primark as an attractive place to work. This is accomplished through targeting recruitment programmes to match local circumstances, building up links with local community groups, colleges and the Job Centre, as well as designing more flexible jobs to meet both the individual needs of employees and the efficient Primark operation. The selection process focuses on recruiting the best mix of applicants who can quickly adapt to a fast-moving, people-orientated fashion environment, quickly and effectively contribute to the business and show the potential for future development and promotion within the organisation. All new employees undergo a comprehensive induction and training programme over a three-week period prior to the store opening. This programme aims to build a positive, energetic, and enthusiastic store team who will perform to the high operating standards of Primark. The team spirit is stimulated, developed and enhanced through the input of specially selected, high-performing, key Primark staff from all levels, across all functions. Primark Systems: The company has also developed computerised customs clearance, dedicated warehousing and distribution services to support the individual stores and facilitate stock control, thereby ensuring immediate sales analysis. Operating costs are tightly controlled, staff productivity is high in terms of sales per employee and store productivity is likewise elevated in terms of sales per square foot. Primark Departments: Primark carries a full range of departments: Womenswear, Lingerie, Childrenswear, Menswear, Footwear, Accessories, Hosiery and Home. Primark has several brands, which include Atmosphere, Secret Possessions, Primark Essentials (for Womens, Mens and Childrens quality basics), Early Days, Rebel and Young Dimension. Prior to 1997, Penneys often shared sites with Power Supermarkets (PSL), also an ABF subsidiary at the time. However, this practice ceased after the sale of PSL to Tesco in 1997. ABF decided to maintain control of Primark, despite it being the only non-food retailer under its control. ==Property Acquisitions== In the late 1990s, Primark acquired several premises from former C&A sites. It also purchased the former '''Lewis'''' Department Store in Piccadilly, Manchester. Primark's UK headquarters are located in Reading, in a former Co-Op Department Store. In February 2005, Primark bought six former Allders sites from their administrators, Kroll. In July 2005 Primark/Associated British Foods purchased the 120-branch Littlewoods retail chain for £409 million. In November 2005, a fire at a TNT_Logistics warehouse in Lutterworth destroyed up to half of Primark's UK stock. Shortages in the 2005 Christmas shopping period were anticipated. On the 19th May 2006, the company opened its first Spanish branch in the Plenilunio Shopping Centre, outside Madrid. 26 January 2006 saw the opening of a new four-storey Cardiff shop, and a large new store in Mullingar, Ireland. The Cardiff store is currently the largest in the UK. In 2005, The Primark in Gloucester was refurbished and has now got an up stairs. In December 2005, Primark acquired the lease of the former Allders site on Oxford_Street in central London, and is expected to open a store there in 2007. Summer 2006 saw the relocation and grand opening on 21 August of a new three-storey 'department style' store in Swansea's former Littlewoods store in St Marys Square. In Autumn 2006, another three-story Primark was opened in Coventry, in what was formerly Allders. According to 'The Coventry Evening Telegraph' 25,000 customers visited the store on its first day of opening [20/10/06]. The remaining floors were bought by Primark, by order of Coventry City Council and will be sold off as office space. ==Primark Own Brands== The company owns several brands, including: * Active — Sporting Boyswear * Atmosphere — Womenswear * Butler & Webb — Formal Menswear * Cedarwood State — Casual Menswear * Denim Company — Womenswear, Casual Men's and Childrenswear * Early Days — Babywear * Girl 2 Girl — Younger Girlswear * Rebel Active — Older Boyswear * Rebel Junior — Younger Boyswear * Secret Possessions — Lingerie * Young Dimension — Older Girlswear *Primark Essentials - Essential Items eg. Underwear == References ==

* Sunday Business Post, 1 August 2006

==External links== * Official site Category:Retailers_of_the_United_Kingdom Category:Retail_companies_of_Ireland