Ava AbbottPrimark is a multinational fast-fashion retailer based in Dublin, Ireland. Arthur Ryan founded the company in June 1969 under the Penneys brand. In 1971, the retailer opened stores in Cork and Belfast before expanding into Great Britain two years later. The company rebranded to Primark because the Penneys name was registered by American retailer JC Penney.
In November 2022, Primark launched its click-and-collect service to take its business online. The company opened two new stores in New York and North Carolina in November 2023, expanding its retail network to 24 US locations and 436 outlets across 16 European countries. As of September 2023, Primark had over 76,000 employees. [1]
Primark started as a clothing, accessories, and footwear retailer. The company introduced beauty products in 2014 and vegan snacks in January 2018. In April 2023, the retailer expanded its click-and-collect service to 32 stores. Customers can buy clothes, accessories, shoes, beauty and baby care products, houseware, and confectionery in-store or order online and collect them in Primark’s outlets.
In September 2023, Primark raised its profit outlook for the second time in a year after posting a 15% increase in sales. Primark is a trendsetter in the contemporary fast-fashion sector. However, the retailer faces stiff competition from Zara, H&M, Shein, Uniqlo, Gap, Forever 21, Mango, New Look, Esprit, and River Island. [2]
Here is an in-depth analysis of Primark’s top competitors and alternatives:
1. Zara
Year founded: 1975
Headquarter: Galicia, Spain
Zara is a fast-fashion and beauty brand and part of the Inditex group, the world’s largest clothing retailer. Inditex placed 621,244 tons worth of items on the market in 2022. In November 2022, Inditex launched the Zara Pre-Owned second-hand repair, donation, and resale platform in the UK. The retail giant expanded the service to France, Germany, and Spain in 2023. [3]
Zara sells fashionwear, accessories, shoes, swimwear, and beauty products through physical stores and online channels. In October 2023, Inditex signed a deal to buy recycled polyester from a US-based startup. Its suppliers will also purchase 2,000 metric tons of raw material recycled from cotton textile waste by ReNewCell to help Zara reduce its carbon footprint. Zara is the top Primark competitor and alternative. [4]
2. H&M
Year founded: 1947
Headquarter: Stockholm, Sweden
H&M is the world’s second-largest fashion retailer. The Swedish apparel company offers exclusive and affordable top-end fashionwear and accessories under several labels in over 74 countries. In August 2023, H&M had 4,375 stores worldwide.
H&M’s business model promotes innovation through environmental sustainability. In August 2023, the fashion retailer announced its plan to phase out sourcing from Myanmar. The decision comes after an increase in reports of labor abuses in Myanmar’s garment factories. H&M is one of the best alternatives to Primark. [5]
3. Shein
Year founded: 2008
Headquarter: Singapore, Singapore
Shein is an online fast-fashion retailer. The company had a $100 billion valuation in April 2022, more than H&M and Zara combined. In August 2023, Shein formed a joint venture with US-based Forever 21 to boost sales and sanitize its reputation as it explores a US IPO. [6]
Shein is grabbing market share from competitors in the US, UK, and Europe. In October 2023, the company acquired British online fashion retailer Missguided to expand its UK market presence. The retail giant reached £1 billion in UK sales in 2023 to become one of the UK’s top ten fashion firms with a 2.2% market share. Shein is a fast-growing competitor for Primark. [7]
4. Uniqlo
Year founded: 1949
Headquarter: Yamaguchi, Japan
Uniqlo is a Japanese fast-fashion manufacturer and Asia’s largest clothing retailer. The company has over 45,000 employees and operates over 2,200 stores globally. In 2023, Uniqlo collaborated with Jonathan Anderson to create a trendy fashion line. The retailer launched the Uniqlo x JW Anderson collection in November 2023. [8]
Uniqlo is best known for its LifeWear concept, which is defined as stylish everyday wear. The Japanese retail brand entered the Indian market in 2019, opened ten stores, and recorded a 69% increase in revenue in FY23. In October 2023, Uniqlo expanded to Mumbai as part of its plan to become the No. 1 fashion brand in India. Uniqlo is the top Primark competitor in Asia. [9]
5. Gap Inc.
Year founded: 1969
Headquarter: San Francisco, California
Gap is America’s largest specialty apparel company. Its portfolio includes Old Navy, Gap, Banana Republic, and Athleta. In April 2023, Gap laid off 1,800 employees to streamline its operation. The company employed over 95,000 people in early 2023.
Gap’s billion-dollar lifestyle brands offer clothing, accessories, and personal care products. As of July 2023, Gap was No. 20 in Digital Commerce 360’s 2023 Top 1000 ranking of the largest North American online retailers. The company appointed a new CEO in July 2023 to overhaul its brand after its online sales dropped 9% in Q1 2023. Gap is one of the top competitors for Primark. [10]
6. Forever 21
Year founded: 1984
Headquarter: Los Angeles, California
Forever 21 is a multinational fast-fashion retailer operated by Sparc Group, a joint venture of ABG and Simon Property. In August 2023, Shein and Sparc signed a deal to take a stake in each other’s businesses. Shein acquired about one-third of Sparc, while Sparc took a minority stake in Shein.
Forever 21 offers authentic fashionwear and replicas of high-end apparel and accessories via its over 500 mall stores. In October 2023, Shein and Forever 21 expanded their partnership to provide a co-branded clothing line sold on Shein’s website to 150 million customers. This partnership increases Forever 21’s competitive advantage over Primark. [11]
7. Mango
Year founded: 1984
Headquarter: Barcelona, Spain
Mango is a Spanish family-owned fashion retailer that offers clothing and accessories in 115 markets globally. In May 2023, Mango announced plans to open over 15 new stores across the US within a year. [12]
Mango has 2,615 shops worldwide and plans to increase its locations to 40 in the US and 110 in India in 2023. In September 2023, the company expanded its e-commerce operations in 20 markets in Africa and Central America. Online sales accounted for 36% of Mango’s revenue in 2022, making it a fast-growing competitor for Primark. [13]
8. New Look
Year founded: 1969
Headquarter: Weymouth, United Kingdom
New Look is a British omnichannel fashion retailer. Customers can buy the brand’s products online or through its 400 stores. In March 2023, New Look cut 70 head office roles in London and Weymouth to reduce its 1,200 workforce. [14]
New Look offers womenswear, menswear, and clothing for teens. In the past two years, the retailer reduced its stores by almost 50% to around 400 locations and expanded its online sales channels. New Look is still one of the top competitors for Primark.
9. Esprit
Year founded: 1968
Headquarter: North Point, Hong Kong
Esprit is a global retail company founded by Susie and Doug Tompkins in San Francisco, California. It was one of the world’s largest fast-fashion brands in the late 20th century. However, Esprit lost momentum in the mid-2000s, exited North America, and closed 80 stores in Europe and Asia-Pacific. In November 2022, Esprit returned to the US with a pop-up shop in Los Angeles. [15]
Esprit seeks to rebuild its brand to its former glory. In December 2022, the retailer announced its turnaround strategy, including streamlining operations, terminating product lines with low-profit margins, and cost-cutting measures. The company is reopening in seven Asian markets and launching new stores in the US and UK, making Esprit a re-emerging Primark competitor. [16]
10. River Island
Year founded: 1948
Headquarter: London, United Kingdom
River Island is a British multichannel fashion brand founded by Bernard Lewis. The retailer offers womenswear, menswear, kidswear, and pet collections. As of January 2023, River Island served over 125 markets globally through physical stores and online channels.
River Island is one of the top players on the UK high street, with a strong online presence and expansive retail network. In 2023, the company rehired its former CEO to streamline the business after its profits plunged 90% in 2022. River Island is a worthy alternative to Primark in the UK. [17]
11. Marks & Spencer (M&S)
Year founded: 1884
Headquarter: London, United Kingdom
Marks & Spencer is a British multinational retailer. The company offers clothing, beauty products, homewares, and food. As of January 2023, Marks & Spencer had 64,261 employees.
Marks & Spencer sells products in-store and on M&S.com. The retailer offers in-house and third-party brands, including JAEGER. In October 2023, Marks & Spencer expanded JAEGER to 20 stores across the UK following the brand’s success in 26 M&S locations and on M&S.com as part of the M&S family. Marks & Spencer is one of the top competitors for Primark. [18]
12. Next PLC
Year founded: 1864
Headquarter: Leicester, United Kingdom
Next is a British multinational retailer offering clothing, footwear, and home products. The next.co.uk site is the UK’s second-largest fashion e-commerce market, with $2.2 billion in sales in 2022. As of November 2023, Next operated 460 stores in Ireland and the UK and around 200 locations in international markets. [19]
Next has over 43,000 employees and an online presence in over 70 countries. In November 2023, the company raised its full-year profit outlook after posting better-than-expected sales in Q3 2023 results. Next is one of the best alternatives to Primark in the UK. [20]
13. ASOS
Year founded: 2000
Headquarter: London, United Kingdom
ASOS is a British online fashion and cosmetic retailer. The company serves the global young adult fashion market. In November 2023, ASOS closed its Midlands warehouse as part of its cost-cutting drive to save around £20 million annually. [21]
ASOS and Primark are fashion retailers, but ASOS is an online platform targeted at young adults, while Primark is an omnichannel retailer serving all consumers. In 2022, ASOS.co.uk was the UK’s third-largest e-commerce fashion marketplace by sales, behind sainsbury.co.uk and next.co.uk. ASOS is the best alternative to Primark for online fashion shoppers.
14. Fashion Nova
Year founded: 2006
Headquarter: Los Angeles, California
Fashion Nova is a fast-fashion retailer that primarily operates online, with a few physical stores. In June 2022, Fashion Nova launched its first beauty line, NovaBeauty, with a 48-piece collection, including lipsticks, lip liners, and lip glosses. [22]
Fashion Nova built its skin-tight and trendy fashion brand on social media. In 2022, the company paid $4.2 million to settle FTC charges of blocking negative reviews on its site. The company refunded thousands of customers for misleading them by removing rating posts with three stars or less. The settlement undercuts Fashion Nova’s competitive advantage over Primark. [23]
15. Matalan
Year founded: 1985
Headquarter: Liverpool, United Kingdom
Matalan is a British omnichannel retailer offering fashion clothing and homewares in-store and online. In January 2023, Matalan’s four lenders took control of the business. The company received £25 million in funding in June 2023 as part of its acquisition deal. [24]
Matalan is focused on driving its online channel and improving product choice and prices to help UK consumers cope with the ongoing cost-of-living crisis. In March 2023, the company migrated its business to the THG Ingenuity platform. THG Ingenuity is an end-to-end e-commerce service that links brands with their customers. Matalan is a worthy alternative to Primark. [25]
References & more information
- Primark (2023, Oct 10). Primark continues US expansion with entry into North Carolina – closing 2023 with 24 stores across 8 states. PRNewswire
- Hill, E. (2023, Sep 12). Primark owner raises profit guidance for second time as sales surge 15%. Reuters
- FN Staff (2023, May 23). Inditex to launch Zara’s second-hand platform in Spain in 2023. Fashion Network
- Reuters Staff (2023, Oct 27). Zara owner Inditex’s suppliers to buy 2,000 tons of fiber recycled from cotton waste. Reuters
- Reuters Staff (2023, Aug 17). H&M says it will ‘phase out’ sourcing from Myanmar suppliers. Reuters
- CNBC Staff (2022, Jun 2). How Shein became more valuable than H&M and Zara combined. CNBC
- Morgan, A. (2023, Sep 18). Shein hits £1bn UK sales as it becomes a top 10 fashion firm. Retail Gazette
- Smith, J. (2023, Nov 2). The Uniqlo x JW Anderson Collection has arrived. Glamour
- Lidhoo, P. (2023, Oct 29). Japanese retail major Uniqlo’s big India push. Business Today
- Salois, G. (2023, Jul 28). Gap Inc. scrambles to overhaul its struggling brand with a new CEO. Digital Commerce 360
- Fonrouge, G. (2023, Oct 27). Shein deepens its relationship with Forever 21 to sell co-branded clothes online. CNBC
- Ndure, I. (2023, May 11). Mango ramps up US expansion with 15 new stores in 2023. Just Style
- Pons, C. (2023, Sep 14). Spain’s fashion retailer, Mango, expands online sales in Africa. Reuters
- Wright, G. (2023, Mar 21). New Look reveals new redundancies with 70 head office roles at risk. Retail Gazette
- Waldow, J. (2022, Dec 22). How Esprit is rebranding itself for a 2023 US comeback. Modern Retail
- Ndure, I. (2023, Aug 30). Esprit swings to loss in H1 on macroeconomic pressures but pledges a stronger second half. Just Style
- AR News-Desk (2023, Oct 11). River Island profits plunge despite high turnover. Apparel Resources
- Marks & Spencer Editor (2023, Oct 30). Marks & Spencer ramps up the presence of Jaeger in its stores. MarksandSpencer.com
- SRD (2023, Aug 3). United Kingdom: Top 10 fashion online stores 2022. Statista
- Davey, J. (2023, Nov 1). UK clothing retailer Next raises profit outlook again. Reuters
- Morgan, A. (2023, Nov 2). ASOS to close Staffordshire warehouse after cost-cutting drive. Retail Gazette
- Alvarado, J. (2023, Jun 14). Fashion Nova Debuts First Beauty Line. Retail Boss
- Tompor, S. (2023, Aug 9). Fashion Nova shoppers to get refunds after settlement: How to file a claim form. Freep
- Hodgson, N. (2023, Jun 22). Matalan receives £25m funding as part of the January takeover deal. The Business Desk
- Sensi, J. (2023, Jul 24). Matalan prioritizes online growth as shoppers flock back to stores. Internet Retailing
- Featured Image by Jonathan Kemper
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