Primark said the investment will include 700 new jobs across three new stores as well as relocations and refurbishments of existing sites.
The retailer highlighted that its new store locations and extensions combined will take it to 195 stores and almost 8m sqft of selling space by the end of 2024.
The three new stores include Bury St. Edmunds, due to open on 6 March, as well as Teesside Park and Glasgow Fort later in the year.
Primark will refurbish 15 existing stores this year as part of its ongoing refit programme with more stores to follow.
This includes upgrading décor and store fixtures, alongside the continued rollout of LED lighting as part of Primark’s progress towards its commitment to halve its carbon footprint by 2030.
Primark is also planning some of its biggest store extensions, including London’s Westfield Stratford store almost doubling in size to more than 81,000sqft to become the second largest Primark in the capital.
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Primark UK retail director Kari Rodgers said: “We’ve changed a lot in the 50 years since we opened the doors on our first store in Great Britain in Derby back in 1974, but at our heart, we are still the same. We’re as committed as ever to offering the very best value on the high street and making great fashion more affordable and accessible for everyone. This latest investment will mean bigger and better stores, hundreds of new jobs across the country and shows our ongoing commitment to the UK high street.”
Primark noted it currently employs more than 30,000 people in the UK and currently has 192 stores across the nation’s cities and town centres, as well as shopping centres and retail parks.
Outside of the UK, the retailer can now be found in 15 countries and it has an ambition of reaching 530 stores across its markets by the end of 2026.
In December 2023, Primark said it would open five new stores in Italy, increasing the total number to 20. These stores set to open in Turin, Livorno, Cosenza, Salerno and Genoa will also be the first Primark outlets in Italy with self-service checkouts.