Primark FINALLY crosses the pond: Europe's favorite cheap fashion retailer to launch at Sears' mall locations across the U.S.
- Primark currently operates 278 stores in Western Europe
- Sears will lease Primark seven locations, starting with New York and Philadelphia
Primark, the giant fashion chain synonymous throughout Europe with rock bottom prices, is finally crossing the pond.
Seven stores will pop up across the Northeastern U.S. over the next year to 18 months, located in large shopping mall spaces leased by Sears.
Two such destinations have so far been announced as part of the deal; the Staten Island Mall in New York City, and the King of Prussia Mall in Philadelphia.
Cheap and cheerful: Seven Primark stores will pop up across the Northeastern U.S. over the next year to 18 months, located in large shopping mall spaces leased by Sears
For Sears, which has been struggling financially for years, renting out some of its vast floor space is the latest in a string of attempts to generate some much-needed cash.
Once America's retail stalwart, Sears' profits have been plummeting since the 2008 recession, and the chain has been forced to sell off a number of stocks and assets of late.
For Primark on the other hand, business is booming.
Current collection: (Left) sweater £12 ($19), skirt £10 ($16) and necklace £4 ($6.45) - and (right) sweater £12 ($19), skirt £8 ($13) and bag £12 ($19)
Sparkle sparkle: Dress £20 ($32) and shoes £14 ($22)
Owned by Associated British Foods and originally founded in Ireland, the chain operates 278 stores in Western Europe, covering nearly 10 million square feet.
Primark offers a diverse range of own-brand, fast turnover products, stocking everything from kids clothing, womenswear and menswear; to home ware, accessories, footwear, beauty products and confectionery.
Current deals include T-shirt bras for £2 ($3.20 USD), sweaters for £12 ($19) and party dresses for £15 ($24) - putting its price point lower than Forever 21's, for example.
Struggling: Sears will lease Primark space in two newly announced locations, the Staten Island Mall in New York City, and the King of Prussia Mall in Philadelphia, with others to follow
Speaking in April after its profits soared by 26per cent to £298m ($480m USD) in just six months, the European retailer said:
'Primark has a strong consumer following in nine countries in Western Europe. After extensive research it has been decided to take the concept to consumers in the USA.'
The U.S. has been a notoriously tricky market for UK retailers to crack in the past, with giants including Tesco and Marks & Spencer among those to experience failure.
But with the success of other British companies, including Topshop, the company is hopeful that Primark will be triumphant as it lands for the first time on the shores of the U.S.
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