Carlos Inacio will head Primark in Spain. Inacio began his career at Primark in 2009 as the area director of the group in Portugal. Subsequently, he was promoted to commercial director in Spain and Portugal and was appointed in 2018 as sales director for Spain. The executive, who has developed part of his career at H&M, has been in the structure of the Irish group for nearly eleven years.
Spain is the second largest market for Primark by revenue. The Irish low-cost fashion retailer has 45 stores in Spain. There are 185 stores in the United Kingdom and 27 stores in Germany. Primark ended 2018 with a five per cent growth in sales in Spain. With a workforce of 6,295 employees in the Peninsula and the Canary Islands, the group increased its profit in Spain by 57.6 per cent compared to the previous year.
Primark is the seventh largest fashion retailer in the world. The company’s operating profit stood at a billion dollars last year. Primark hopes to close the 2019 fiscal year with a four per cent growth in revenue. Spain will continue to be one of the main priorities of Primark’s expansion this year. France and Spain will cover the bulk of the group’s openings, adding between the two markets a total of 19 new stores, in addition to extensions and relocations.