Penneys Announce Expansion into Italian Market
It looks like our stylish Italian sisters may soon be sporting our favourite high-street threads.
Primark has announced plans to open its first shop in Italy next year. The owner of the chain, Associated British Foods, confirmed the news today.
Italy will be the tenth European market the fast fashion giant enters into. Initial plans are for three stores, with the first set to open northwest of Milan in the summer of 2016.
John Bason, finance director of Associated British Foods, explained that Italy was attractive to retailers because it is the second biggest market for clothing by value in the European Union after Germany.
Speaking to Reuters, he said: "The research that we've done would indicate that there is a very good market in Italy for the Primark concept."
The first Primark store in the US is due to open in Boston this coming September.