By Euro Weekly News Media • 31 March 2016 • 10:24
Image of Ferdinand Magellan.
Credit: Wikipedia - By Unknown author - <a rel="nofollow" class="external text" href="https://catalogs.marinersmuseum.org/object/CL4638">The Mariner's Museum Collection</a>, Public Domain, Link
PRIMARK is now the second largest clothing franchise in Spain having made its presence felt across Inditex territory, notching up a huge 20 per cent increase in turnover to hit the €1.17 billion mark in 2015.
Those figures do not yet include the sales made by Spain’s largest Primark, a monstrous 133,000 square foot asylum located Madrid’s iconic Gran Via, which was ceremoniously unleashed by the Irish Ambassador in October.
The Gran Via store has been interpreted as a bold competitive move by the cheap clothing firm which can now target Spanish success Zara for absolute supremacy. In fact more Spaniards visited Primark than Zara in 2014 and the numbers continue to swerve towards the upstart.
The Irish retailer, which first invaded Spain in 2006, has now outstripped competitors including H&M and Mango in the turnover stakes.
Spain is the company’s key continental interest, having steadfastly dominated British and Irish high streets throughout the past decade, despite controversy on how to pronounce its name.
With the nation in the grip of a virulent double-dip recession from 2008 onwards, Primark put itself forward as a cheap alternative for struggling families and quickly became a local powerhouse.
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