Continued growth of Penneys

Penney’s have just opened its first Italian store close to fashion capital Milan.This comes on the back of its first US store in Boston and with plans to open a further six stores in the States.

Familar here in Ireland as Penney’s and as Primark all over Europe,it is to fashion what Ryanair is to aviation, an Irish success story spreading affordable fashion right across the continent.

Primark’s fashion follows trends. Much time is spent by the business watching celebrities and fashion designers to see what is and will be in demand.

The company has grown from 17 stores in 1975 to its present number of 304 in 10 countries (U.S. UK,Austria,Spain,GermanyPortugal,the Netherlands,France Belgium),62,000 employees and annual profits in excess of €800m.

Like many fashions houses,  production  is often a focus of examination. It outsources production to factories in countries like Bangladesh, China,India Vietnam and Pakistan where wage costs are low. The minimum wage in Bangladesh for example is $68 a month.