Primark to pump EUR250m into Irish operations - Just Style
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Primark to pump EUR250m into Irish operations

30 Nov 2021

UK value fashion retailer Primark is to pump more than EUR250m (US$283.7m) into its home market of Ireland over the next ten years, creating more than 700 jobs.

Primark to pump EUR250m into Irish operations

Primark, which operates as Penneys in Ireland, says the jobs will be created over the course of the next three years, while its selling space in Ireland will increase by an estimated 20% within the next ten.

Its investment plans include one new store location, one relocated store, existing store redevelopments, and the development of a state-of-the-art warehousing and distribution facility in Newbridge, Co. Kildare announced earlier this year. Taken together, the plans reinforce Primark’s long-term commitment to Ireland, high street retail, and local communities across the country.

The investment includes EUR60m for the Primark Patrick Street store in Cork city, EUR20m investment in its Eyre Square store in Galway, and EUR75m in a new distribution centre in Newbridge, Co. Kildare.

In addition, a new 43,000 sq ft store will open at The Square, Tallaght in autumn 2022 and will bring the total number of Penneys stores in Ireland to 37. Penneys will also open its newly relocated store in Carlow in summer 2022 as it moves its existing store to a new larger premises. Plans have begun to extend Penneys’ current store in Eyre Square, Galway, and to redevelop and extend its Patrick Street store in Cork, creating an enhanced shopping experience for customers. These four projects alone will create an additional 78,000 sq ft increase in retail space in Ireland. A number of further store extensions in stores across Ireland will be announced over the coming months.

Primark also continues to invest in its people, with plans to increase its total workforce in Ireland by 12% in the next three years; announcing today the creation of over 600 retail jobs in Penneys stores across Ireland, with 300 new jobs in the new Penneys Tallaght store alone. These new retail roles expand on an already 5,000 strong Penneys retail workforce in Ireland, with new roles including full and part-time retail assistants, trainee managers, and department managers.

Primark is also recruiting 100 new roles over the next six months at its global headquarters at Arthur Ryan House. These roles in areas such as technology, buying and merchandising, design, sustainability, store development, finance and HR will further build Primark’s global team of around 1,000 employees, who work across the company’s 399 stores and 70,000 employees across its 14 markets.

“We are proud to announce a significant long-term investment in our Penneys business to improve and grow our Irish stores by creating 700 new jobs across the country,” says Primark CEO, Paul Marchant.

“The site of our very first store which opened more than 50 years ago is today home to our global headquarters, leading our business in 14 markets around the world. But even as we grow internationally, Ireland will always be our first and home market, and we remain as committed as ever to our employees, customers, and stores here. Our investment plans demonstrate the confidence and commitment we have to Penneys in Ireland: we plan to remain at the centre of Irish retail for a long time to come”.

 Last month, Primark secured planning permission to develop a new warehousing and distribution facility in Newbridge to serve the island of Ireland. The 550,000 sq ft facility will comprise a warehouse, distribution facility and office space on a 38-acre site and is expected to be completed in early 2024.

Primark also intends to accelerate the pace of its expansion in the US market, building on strong trading and growing brand awareness. Over the next five years, Primark expects the US store estate to grow to some 60 stores.

As well as the US, Primark intends to focus this expansion in its European markets of France, Spain and Italy, as well as continuing to grow in Central and Eastern Europe (CEE). Over the next five years, Primark expects its store estate to grow from 399 stores currently to 530 stores globally.

The retailer recently said disruptions to the supply chain and challenges experienced during the pandemic will not affect its plans to expand within the US.