Primark commits to 85 million euro investment in Spain and Portugal

Madrid – As part of its sustained commitment to the Spanish and Portuguese markets, Primark's management for Iberia has just announced an investment of over 85 million euros (100 million dollars) in its businesses in both countries. These funds will be used for the refurbishment of part of its current store portfolio and for the opening of new establishments. For Spain, this move also commemorates the 20th anniversary of the chain's operations in the country.

Primark plans new stores in Spain

This is the first new investment in its Spanish operations announced by Primark since completing its last investment programme. That initiative was announced in late 2022 for an estimated two-year period to be completed by the end of 2024. During that time, the fashion chain committed to investments of around 100 million euros for both the renovation and expansion of its stores and the opening of eight new establishments.

Its parent company, Associated British Foods (ABF), has currently initiated a demerger plan that is expected to conclude in 2027. The chain ultimately surpassed these objectives, adding more openings than planned and postponing some initially announced as part of that investment programme. As a result, it grew from 56 stores in Spain at the end of 2022 to 67 after the opening of its store in the Jaén Plaza shopping centre in Jaén last September. It currently operates this number of stores across the country, following the inauguration of a total of 11 new stores between 2022 and 2025.

Expansion in Portugal on the agenda

Meanwhile, regarding Portugal, the chain announced a 40 million euro investment programme in 2024. These funds were also designated for the expansion and updating of its retail network, including one expansion project and four new openings. This is all part of an equally firm commitment to the Portuguese market, where Primark currently operates 13 establishments. This network of stores, like the one in Spain, will be renovated and expanded as a result of this new investment programme. Primark estimates this will help generate more than 300 new direct jobs across the Iberian Peninsula.

“This is a historic moment for Primark on the Iberian Peninsula,” remarked Carlos Inácio, director general of Primark for Iberia. “This investment reflects our confidence in these markets and our long-term commitment to Spain and Portugal. In Spain, as we celebrate 20 years since our first store, we are proud of the connection we have forged with our customers and communities. We are now focused on investing in our existing stores to ensure we continue to offer an exceptional shopping experience for many years to come.” He added, “In Portugal, where the company continues to grow in popularity, we are building on recent momentum to expand our presence and reach new locations.”

Details of the Spain and Portugal retail expansion plans

Breaking down this investment programme, the chain's management specifies that of the 85 million euros committed, 40 million will be invested in Primark's business in Spain. The company first entered the country 20 years ago with the opening of a store in Madrid's Plenilunio shopping centre. It currently operates 67 points of sale and plans to end the year with 68 active establishments following the opening of a new store in the Los Alfares shopping centre in Talavera de la Reina. This will be Primark's second establishment in the province of Toledo. The store will launch as part of this investment programme, which will also see a total of 11 update and refurbishment projects. These will specifically target Primark stores in the Abacenter (Albacete); Puerta Europa (Algeciras); Espacio Mediterráneo (Cartagena); Splau (Cornellà de Llobregat); Miramar (Fuengirola); La Morea (Pamplona); Gran Plaza (Roquetas de Mar); Valle Real (Santander); As Cancelas (Santiago de Compostela); El Boulevard de Vitoria-Gasteiz (Vitoria); and Puerto Venecia (Zaragoza) shopping centres.

In turn, the remaining 45 million euros committed as part of this Iberian investment programme will be allocated by Primark to its business in Portugal. The company is celebrating 17 years of activity in the country. The British-Irish chain plans to expand its store in the Forum Coimbra shopping centre and undertake four new openings. These stores will open in Oporto, Vila Nova de Gaia, Castelo Branco and Setúbal. Notably, this includes the first high street store Primark will open in Portugal, located in the historic Palladium building on Rua de Santa Catarina in Oporto.

“In 2026, it will be 20 years since Primark opened its first store in Spain,” Primark detailed. “To celebrate this milestone, the chain will invest 40 million euros in new and existing stores to ensure its customers continue to enjoy an exceptional shopping experience.” The 11 renovation projects are particularly noteworthy. They “reflect Primark's strategy of reinvesting in its stores to offer the best customer experience” and “will include an optimised spatial layout, refreshed decor and a modern design in line with the latest store concept, as well as the introduction of self-service checkouts.” These same key elements will characterise the investments in Portugal. In this country, Primark will focus on continued growth with the four previously announced opening projects for a market “where the company has been consolidating its presence and building a strong customer base for 17 years.”

This article was translated to English using an AI tool.

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