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Daily Newsletter

30 September 2024

Daily Newsletter

30 September 2024

Primark marks 50 years in the UK fashion market

Founder Arthur Ryan expanded the business from Ireland into the UK in 1974.

Luke Martin September 26 2024

Primark, the British budget fashion retailer, is marking its 50th anniversary in the UK. 

The company, which first opened its doors in Derby in 1974, has since become a household name, offering affordable clothing to millions of customers across the country.

Primark today has 185 domestic stores and employs more than 30,000 colleagues.

“Over the last 50 years, British high streets and style have changed a lot and Primark has been there every step of the way," said Kari Rodgers, UK retail director for Primark.

"While we’ve evolved through the decades, our mission of helping people look and feel good for less remains as relevant today as it was then. We’ve paved the way for great-quality, affordable fashion for everyone and I’m so grateful for the loyalty our amazing colleagues and customers have shown us."

To commemorate this milestone, Primark is hosting special events and promotions in stores nationwide. 

The company is also showcasing its history through window displays featuring images from its archives.

A brief history of Primark

Primark's journey began in the Republic of Ireland (Lreland) in 1969 when founder Arthur Ryan opened the first Penneys-branded store. 

Recognising the potential of the British market, Ryan expanded into the UK in 1974, opening the company's aforementioned inaugural store in Derby.

From humble beginnings, Primark has grown rapidly, expanding its store network and product range. 

The company's focus on value and affordability has resonated with customers, making it a popular destination for shoppers seeking stylish clothing at competitive prices.

Primark's impact on the high street

Primark has played a significant role in revitalising high streets across the UK. 

The company's stores are often considered retail destinations in themselves, offering a wide range of products and services, including beauty studios, nail salons, and cafés.

In addition to its physical stores, Primark has recently introduced a Click & Collect service, allowing customers to order online and pick up their purchases in-store. 

This initiative aims to provide greater convenience and flexibility for shoppers.

As Primark celebrates its 50th anniversary, the company said it remains committed to its core values of affordability, quality, and customer satisfaction. 

With ongoing investments in its store network and product range, Primark is well-positioned to continue its growth and success in the years to come.

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Buy Now Pay Later (BNPL) Market Overview

Per GlobalData, the BNPL market was valued at $349.4 billion in GMV in 2023. The market has witnessed exponential growth over the past few years, driven by changing consumer preferences, technological advancements, and the growing e-commerce market. As the market grows, new entrants such as banks and retailers are joining the space, either by developing their products or partnering with existing players. Per our estimates, the BNPL market will record a CAGR of >19% from 2023 to 2028.

Buy Now Pay Later (BNPL) Market Overview

Per GlobalData, the BNPL market was valued at $349.4 billion in GMV in 2023. The market has witnessed exponential growth over the past few years, driven by changing consumer preferences, technological advancements, and the growing e-commerce market. As the market grows, new entrants such as banks and retailers are joining the space, either by developing their products or partnering with existing players. Per our estimates, the BNPL market will record a CAGR of >19% from 2023 to 2028.

Buy Now Pay Later (BNPL) Market Overview

Per GlobalData, the BNPL market was valued at $349.4 billion in GMV in 2023. The market has witnessed exponential growth over the past few years, driven by changing consumer preferences, technological advancements, and the growing e-commerce market. As the market grows, new entrants such as banks and retailers are joining the space, either by developing their products or partnering with existing players. Per our estimates, the BNPL market will record a CAGR of >19% from 2023 to 2028.

Buy Now Pay Later (BNPL) Market Overview

Per GlobalData, the BNPL market was valued at $349.4 billion in GMV in 2023. The market has witnessed exponential growth over the past few years, driven by changing consumer preferences, technological advancements, and the growing e-commerce market. As the market grows, new entrants such as banks and retailers are joining the space, either by developing their products or partnering with existing players. Per our estimates, the BNPL market will record a CAGR of >19% from 2023 to 2028.

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