Primark expands into 17th market with Budapest store opening

29 May '24

2 min read

Primark expands into 17th market with budapest store opening

Pic: Primark

Insights

Primark opened its first Hungarian store in Budapest's Arena Mall, marking its entry into its 17th market with an $8.56 million investment.
This new location created over 180 jobs and extends Primark's Central and Eastern Europe footprint, where it now operates 13 stores.
Further expansion is planned with three more stores opening in the region this year.

Primark, the international fashion retailer, has opened its first store in Hungary, located in Arena Mall, Budapest. With an investment of over €8 million (~$8.56 million) in the new store and over 180 jobs created locally, the opening marks an important milestone for Primark as it enters its 17th international market.

The highly anticipated store spans over 33,900 sq. ft of fantastic retail space and brings the retailer’s unique formula of the latest fashion trends and everyday essentials to shoppers locally. Hungary becomes Primark’s 6th market in Central and Eastern Europe (CEE), where it now has 13 stores. Primark will open three further stores in the region later this year, with locations in Timisoara, Romania; Bydgoszcz, Poland and a second location in Prague, Czech Republic.

Paul Marchant, Chief Executive at Primark, said: “Nearly five years after opening our first store in the region, we’re delighted to celebrate another significant milestone as we enter our 17th international market with the opening of Primark Arena Mall in Budapest, Hungary. I am extremely proud of our local team, whose dedication and hard work have driven our growth across the CEE region. We are excited to introduce our unique Primark offering to customers in Budapest, bringing something new and exciting to the market.”

The opening of the new store builds on Primark’s global expansion plans, as it aims to reach 530 stores by the end of 2026. Currently the retailer has over 440 stores, including a brand-new flagship in the heart of Madrid’s Salamanca district, located in the historic former Cine Salamanca, Conde de Peñalver, which opened late last week.