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Oct 16, 2015
By WGSN Insider
Primark has opened an impressive new flagship store in Madrid – its second-biggest location in the world. The opening signals the value retailer’s confidence in its future in the Spanish market after 10 years of building up a network of around 40 stores there.
The building features a glass-domed patio lined with balconies, with laser screens promoting the products on offer throughout.
“Being on Gran Via and in such a large space is obviously a symbolic step for Primark. It’s the icing on the cake for the new king of low-cost clothing retailing in Spain,” said Carlos Hernandez, a Madrid-based retail consultant.
With Spain only just beginning to emerge from a recession, cheap mass-market retailers are becoming increasingly appealing to price-conscious shoppers.
“This is a good moment to expand again, particularly in the low-cost segment, as salaries are and will continue to be low in the years ahead and growth will come particularly from these low and low-to-mid retail segments,” said Hernandez.
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