Primark reaches suppliers in Central America to boost US business
Primark is looking for Central American suppliers to boost its American market. The Irish low-cost fashion company it’s analyzing to create a supply chain in Central America to boost its American market, where it landed in 2015 with its first store in Boston.
The company has started looking for suppliers in countries like Guatemala, Costa Rica or Mexico to face this new strategy. Primark wants to accelerate its American market to fight the closing trend of companies like Marks&Spencer, Testo or Topshop, according to Business of Fashion.
Primark has nine stores in the United States and is preparing two new openings
Up until now, Primark’s landing in the American market has been slower than expected. In four years, the company has opened nine stores and is planning the opening of two more, in New Jersey and Florida.
The company, owned by AB Foods, has planned to close its year outlook with an increase of 4% after extending its commercial area to 88,000 square meters. The company’s’ European market remains the strongest one. At the end of its first half 2019, Primark had 372 stores after adding nine new openings in Belgium, France, Germany, the Netherlands, United Kingdom and Slovenia.
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