Primark expands its reach into a 17th market with a new store in Budapest, Hungary, marking a significant milestone.
- The store in Budapest’s Arena Mall covers 33,900 sq ft and has created over 180 jobs.
- Primark’s investment in the Hungarian store exceeds €8m (£6.8m), reflecting its strategic expansion in Europe.
- Plans are in place to open three more stores in Central and Eastern Europe this year.
- Primark aims to grow its global presence to 530 stores by 2026, from its current 440 stores.
Primark has made a strategic move by inaugurating its first store in Hungary, a venture that marks the retailer’s entry into its 17th international market. Located in the bustling Arena Mall in Budapest, the store spans a substantial area of 33,900 square feet.
This new store is a significant contributor to the local economy, having created employment opportunities for over 180 individuals. Primark’s investment in establishing this outlet amounts to more than €8 million (£6.8 million), illustrating the company’s commitment to expanding its footprint in Central and Eastern Europe (CEE).
Hungary represents Primark’s sixth market within the CEE region, where it currently operates 13 stores. This expansion is part of Primark’s broader strategy to bolster its presence across the globe, with plans to launch additional stores in Timisoara, Romania; Bydgoszcz, Poland; and a second location in Prague, Czech Republic.
Primark’s goal is to increase its number of stores from the existing 440 to 530 by the end of 2026, driven by a vision to capture new markets and enhance customer access to its offerings. CEO Paul Marchant expressed enthusiasm over this development, highlighting it as a significant milestone in Primark’s growth trajectory.
Nearly five years since establishing its initial presence in the region, Primark continues to pursue its expansion ambitions, reinforcing its status as a key player in the fashion retail industry.
Primark’s strategic move into Hungary underscores its commitment to international growth and market expansion.
