Primark Iberia’s Managing Director, Carlos Inácio, announced today that the company has invested 225 million euros in Spain over the last three years, heavily focusing on a robust brick-and-mortar store expansion.
Both Inácio and Primark’s International Expansion Director, José Luis Martínez de Larramendi, outlined this growth strategy during their presentations at the ExpoRetail Iberoamérica trade fair held in Madrid.
The regional managing director highlighted that the retail sector is currently undergoing a “profound transformation” driven by continuous and recurring shifts in consumer habits and shopping preferences.
According to Spain’s EFE news agency, the Irish fashion group opened 20 new stores and completely renovated 26 existing locations across Spain during the past three fiscal years.
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Inácio pointed out that despite the complex geopolitical landscape, the discount clothing retailer maintains its strategic aspiration to operate in 21 countries by the end of 2026, up from 19 at the end of last year.
The managing director for the Iberian Peninsula stated that Primark faces a unique challenge coupled with a great opportunity, firmly insisting on physical retail spaces as the true essence of its business model.
This structural focus on physical shops allows the fashion brand to successfully reduce customer return rates while simultaneously lowering overall supply chain and logistical operational costs.
He emphasized that the low-cost retailer actively seeks out geographic locations with substantial development potential to establish long-term economic growth and successfully protect its core retail business.
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Larramendi added that the corporate group specifically targets large-scale regional markets that display high future growth potential, economic stability, and predictable political environments that align with their business.
“We look for markets with economic and political stability that make sense,” the international expansion director commented, stressing that the company focuses entirely on creating long-term value despite short-term market volatility.
The executive noted that while the short term can occasionally prove highly complicated, looking toward long-term returns remains the guiding principle when analyzing new real estate opportunities.
He also mentioned that Primark has successfully initiated a franchising model in the Middle East, although the brand still directly operates the vast majority of its stores, including 41 locations across the United States.
