...Penney’s/Primark "The mission of the Primark management and staff has been to supply quality clothing at prices perceived to offer real value." http://wiki.answers.com “Fair is important to us, a fair deal for all” “Primark is a subsidiary company within Associated British Foods (ABF), and as part of the ABF family we share its core values: taking care of our people, being good neighbours, and fostering ethical business relationships. http://www.primark.co.uk Penney’s, trading under the name Primark, is a retail-clothing store. The Company is a subsidiary of Associated British Foods (ABF) and controlled by the Weston Family, through Wittington Investments. Primark’s founder Arthur Ryan was born in Dublin and later immigrated to London beginning his career as a tie buyer and later a fashion wholesaler for Carr & McDonald. From there he returned to Ireland to work for Dunnes Stores and in the late 60’s Garfield Weston hired Arthur Ryan to open a discount clothing chain, with a start-up fund of £50,000. In 1969, the first Penney’s opened its doors on Mary’s street in Dublin. In 1970, four more stores were added in the Dublin area, one of the larger stores in Cork followed by 12 more by the end of the year including Northern Ireland. By 1973, the total in Ireland was 18. Due to this success, he began trading in Britain. In order to avoid confusion with an already existing store JC Penny’s he rebranded the stores to Primark. Within the next ten years, Primark had 44 stores...
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...heard of Associated British Foods, but nearly everyone has heard of Primark. The fast-growing discount fashion chain is owned by ABF, and after taking the UK by storm has its sights set on the rest of Europe. Primark – described by City analysts as ABF's "jewel in the crown" – has gone from strength to strength in the face of the decline of high street stalwarts and could be worth £19 billion, says investment bank UBS. How did the 'cheap and cheerful' retailer make it thus far from its humble Irish origins? When Primark opened at the Marble Arch end of London's Oxford Street in 2007, thousands of people queued outside the store and as soon as the doors opened there was a stampede and staff were injured. The retailer took no chances at the opening of a second 'posh Primark' shop at the other end of Oxford Street in 2012 – bosses cleverly decided to open an hour earlier than advertised to avoid a repeat of the near riot. They also tried to move the brand more upmarket – the four-storey flagship store has exposed brick walls and giant LED screens; 111 cash tills and 92 fitting rooms. The 268-store chain is taking its winning formula to continental Europe. It launched in Germany, Spain, Portugal, Belgium, Austria and the Netherlands in recent years and is now busy trying to sell its cut-price T-shirts and skinny jeans to the fashion-conscious French, after opening in Marseille in December. Origins Primark started out as Penneys in Ireland (where it still trades under that...
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...As you can see this image totally explains the tragedy that occurred. After this happened the company was faced with a terrible reputation as people were able to see the working environment for workers outside of the EU was totally unsafe. The community was shattered after this event as 581 people had been killed so many families were left devastated. It would also mean many families would suffer as their income would become instantly scarce and more importantly this event would mean that so many children would become orphans. The media’s reaction blew up and this was scattered all around the globe damaging Primark’s valuable reputation by the minute. Eventually after some persuasion by petitions and government demands the company said they would compensate. ‘‘ The British retailer has agreed to pay $9m to the 581 workers, or their families, from New Wave Bottoms, Primark's supplier, which was based on the second floor of the building in Dhaka. A further $1m will go into a communal compensation pot to be shared among all the 3,600 workers who suffered when the eighth-floor Rana Plaza complex collapsed in April last year’’. This shows that company demonstrated that they took some social responsibility for the community that got terribly damaged, it also showed that the company wanted to improve their community and try and amend for what happened for the families. The company has also compensated by offering the community health care schemes that would include volunteers donating...
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...Resubmission – M1 Another issue with Primark was regarding child labour; Primark had been using child labour in Bangladesh and India. Primark clothes were being made in India and Bangladesh by factories using child labour. Hundreds of people had been protesting outside Primark’s Oxford Street store in London to claim that Primark has been using Child Labour. Primark sacked three of its clothing suppliers in India after being told that the programme has evidence of its suppliers subcontracted the work to the factories using child labour. George Weston who is a chief executive of Associated British Foods and which owns Primark said the company's Indian contractors were guilty of ‘wholesale deception’. According to my research children as young as 11 were working in a squalid conditions, sewing tiny beads and sequins onto cheap T-shirts and also Primark’ s fashion sweatshops pay them just 60p a day which is lower than a minimum wage. Primark was alerted to the use of child labour in southern India by a BBC Panorama investigation. A spokesman from Primark said that ‘Primark is an ethical organisation and take its responsibilities seriously’. So at this point, I would say that it can be improved if the British government introduce regulation to prevent using child labour. Primark is working overtime to gain back its reputation and try to avoid any illegal labour practices and poor working conditions in its supply chain. Another issue was that one of Primark’s UK suppliers was found...
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...Primark Primark is a retailer which specialise in selling clothing for women, men and children. The sort of products that they sell is accessories, footwear, lingerie, formal, casual wear and many other clothing products. As well as selling clothing products, Primark have recently sold many other products like cosmetics, home items and luggage. Primark are well known for selling cheap and affordable clothes. As well as selling them at a low price, Primark sell a wide range of clothes for all ages and all sizes. The first Primark store to open was on Mary Street, in Dublin however it was known as Penny’s. Then in 1973, there were approximately 18 stores in Ireland and they decided to trade in Great Britain, and since then they have been gradually expanding and growing and have opened stores worldwide. They currently have 189 stores, 38 of these stores are located in Ireland, 136 in the UK, 12 in Spain, 1 in the Netherlands, Germany and lastly in Portugal. Primark have two head offices, one is located in the UK and one is located in Ireland: Primark sell their own branded products as well as other brands like Atmosphere, Active, Opia and many other brands. Primark are a very popular business with many stores located all over the UK, and most of these stores can be found on the high street. They are currently employing 27,500 people. At Primark they do not advertise, apart from their website but they attract their customers by selling such a wide range of products at such...
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...Primark: An Overview Primark Stores Limited is an Irish clothing retailer. Its stores are located in various regions like United Kingdom, Ireland, and Spain. Within this area of responsibility, Primark stores outnumbered other clothing retailer business, with one hundred sixty one stores overall distributed in three major regions: one hundred twenty-five in the United Kingdom, thirty-four in Ireland and eight in Spain. The company positions itself as marketing fashionable at cutthroat prices. The original clothing store was established by Arthur Ryan and his collaborator Micaela Mitchell in Dublin Ireland in 1969. After various success in clothing business, great profits and gross income led them to open stores in local and regional areas. It acquired various premises in different business centres within its local and regional areas which eventually generate more profits and income. Primark is known for selling clothes at the budget end of the market. Its success is based on sourcing supply, making clothes with simple designs and fabrics and targets young, fashion-conscious individuals ages 35 below, offering them simple yet high quality clothes and apparels. Hence, these successes brought significant changes on Primark’s retail business. The relevance of global trends and consumers’ demands on lifestyle made Primark Store Limited reinvent its business scheme and management structure. Primark’s management and business...
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...The latest results from Marks & Spencer and Primark paint a very different picture of the high street. While M&S’s like-for-like sales of general merchandise, which is primarily clothing, have fallen 1.5pc over the last six months, Primark has reported a 5pc increase in like-for-like sales and a 22pc uptick in total sales. Marc Bolland, the chief executive of M&S, says the 129-year-old retailer’s clothing business is on a “journey” after the leadership team and style was revamped. “The most important [factor] is to choose the right direction,” he said on Tuesday. The new-look M&S womenswear collection has won strong reviews from the fashion press. It shows the company has listened to criticism from customers by stepping up the quality and introducing sleeves to dresses, which was a particular sore point. Mr Bolland said there has been a “gradual improvement” in the performance of M&S’s clothing business. The company “sold through” 80pc of the clothing advertised in its high-profile 'Leading Ladies’ campaign within six weeks. However, if M&S is to put its clothing arm on a permanently firmer footing, it could still learn lessons from the extraordinary success of its upstart rival Primark. The discount retailer Primark only arrived in the UK in 1973, 89 years after M&S, but if present trends continue then it will have as many clothing customers as M&S within two years. The first lesson from Primark is that price really matters. This sounds obvious, but...
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...Jinzi Joy Shang @03635503 "Watch out, Primark is coming" and that they are going to be a dominant US retailer in just a few years. Right of wrong? Will they be a major retail force or just another Uniglo or Fresh and Easy with big ideas that don't work out as planned? Why or why not? The answer is: wrong. Primark, with cool clothes, attractive stores and, most important, rock-bottom prices. Bernstein Research analysts estimated for the Financial Times that, on average, Primark's prices were 40% below H&M, 33% below Old Navy, and 20% below Forever 21. However, there’re still some problems prevent it to win American market. About Scale - Boston, is home to a large student population that are likely to be key drivers of demand, is a good start, and at least 8 planned stores will open in U.S. Northeast by next year. However: - 1) The rapid expansion means the cost will increase. Take Uniqlo for example, it’s opening 20 in a year, and the sales show that it’s over-extended. - 2) Primark is mostly for young people (18 to 35). Once some level of scale is established, Primark will certainly be difficult for the Gap and other homogeneous brand. Because they sell very similar product at even lower prices. It'll put a lot of pressure on teen retailers. - 3) The market between Europe and America is different. Different States, even different city have different way to purchase. Take Fresh & Easy for example, the company strategically targeted ‘food deserts...
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...1. Introduction Primark is an Irish clothing retailer, operating in Europe, in countries such as Germany, Spain, Ireland and United Kingdom. It is a subsidiary of Associated British Foods (ABF), a British multinational food processing and retailing company. Primark first open in Dublin 1969 under the name Penney’s, and have retained the name till this day in Ireland. Over the years Primark have expanded by buying out their competitors such as British Home Stores (BHS) and Clemens and August (C&A), they now have 257 stores across Europe (Primark, 2013). Primark sells clothes that are economical affordable. The company sources cheaply, using simple designs and fabrics in the most popular sizes and buys stock in bulk. Primark core competence is in their distribution change, the source all their products (Primark, 2013). Presently Primark Clothings are worn all over the world. However, Primark only has stores and outlets in Europe. This report proposes Primark entry into the Nigerian retail market using two P’s (Promotions and Product), the marketing mix, marketing planning, entry and analysis of the cultural factors that may affect the process. 2. Nigerian Retail Industry and Nigeria’s retail sector is undergoing change with international retail brands entering the country, new malls being constructed and the transformation of informal markets into more modern facilities. Shoprite a South African retailer and the biggest on the continent have been in operations in Nigeria...
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...Energy transition Exercise 3 Fuel prices Dollars/litre, 2014 | Price | Price without tax | France | 1.996 | 0.847 | Germany | 2.093 | 0.887 | Italy | 2.329 | 0.936 | Spain | 1.878 | 0.932 | Great Britain | 2.158 | 0.830 | Japan | 1.641 | 0.972 | USA | 0.921 | 0.809 | Source: AIE a) Comment on the weight of taxes on total fuel prices in these countries Share of the taxes on fuel prices There is substantial variation. Generally, in countries that are members of the European Union, the tax is an average of 57.4% of the price, while in Japan it is around 40%, and in the US it is the lowest. Clearly in most of these countries, fuel prices are heavily determined by taxes b) What could be the reasons for these taxes? The big gap between the European countries and Japan relative to the US in terms of fuel price taxation is linked to the fact that these countries are net importers of fuel. As a consequence, the governments incur in a deficit, as they are in charge of importing oil and gas. The high tax on fuel prices contributes to making up for that deficit. In parallel, the fuel taxes can help discourage the use of fuel cars so as to foster the use of cars that are based on cleaner energies. c) Can they be effective, given that oil consumption is difficult to reduce? Regarding the aim of taxes to discourage the use of oil and gas, yes, they can be if there are other incentives/benefits to switch to cleaner cars and if cleaner...
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...Objective The purpose of this report is to conduct an External Environmental analysis influencing UK Fashion retail company Primark. The report reviews Political, environmental, societal, technological and legal factors that could affect the functioning of the retail chain. The analysis is then used to draw a conclusion on opportunities and threats that are faced by the company. Primark - An Overview Launched in 1969 on Mary Street, Dublin as ‘Penny’s’, Primark is an Irish retailer with 254 stores across Ireland, United Kingdom, Austria, Belgium, Germany, The Netherlands, Spain & Portugal. Headquartered in Dublin, the company is a subsidiary of Associated British Foods Plc. Their product categories include ladies wear, menswear, children’s wear, lingerie, fashion accessories, cosmetics and home products. Primarily the company’s merchandize is made specifically for its own brands, but they also stocks certain products from other well known brands like Haribo sweets, Disney, Warner Brothers & Nivea. Primark’s business model includes faster turnaround of product lines at cheap prices. It prides itself as a brand that sells ‘Fast Fashion’ and targets its product towards customers who are looking for bargain shopping. Its apparel product lines typically showcase simple fabrics and designs in popular sizes. Primark launches it stores in high street locations and the all product categories/lines are stocked in bulk at each location. Its main market competitors include...
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...SID: 1232963 Marketing plan for Online Shopping service for Primark Contents: Swot Analysis 2 An idea for the new service 4 Future Marketing Strategies 6 3-year Financial Forcast 8 Reference List 9 1. Primark SWOT Analysis Marketing planning involves looking at all angles, the best strategy that will enable a company utilize it resources efficiently. Organizational resources are scarce and thus planning become inevitable. Analyzing the marketing requires adequate knowledge with proper strategies to seize opportunities that exist. Market planning requires that organization understand their internal and external environment. Internal environment involves matters under within the company’s control and these can be understood effectively with the use of SWOT analysis. This is a technique of profound importance to any organization. It involves analyzing the Strength, Weaknesses, Opportunities and Threats. SWOT analysis can also be used to analyze the external environment, particularly as regards to the threats and opportunities analysis. External environment involves matters outside the company’s jurisdiction where the company has little control over. In these areas, the company has no control over them. However, a company should put up measures that minimize the impact of these external factors on the company. Strengths A major strength of Primark is offering its product at relatively cheap price as compared to other...
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...Primark and Ethical Business Introduction Primark the leading clothing retailer Rapid changes in media, transport and communications technology have made the world economy more interconnected now than in any previous period of history. Nowhere is this more evident than in the world of textile manufacture and clothing distribution. Consumers want fashionable clothes at affordable prices. Much of high street fashion is produced in various countries across the world. Businesses source clothes from countries like India, China, Bangladesh and Turkey because of lower material and labour costs in these countries. In order to meet consumer demand, Primark works with manufacturers around the world. Primark is part of Associated British Foods (ABF), a diversified international food, ingredients and retail group. Primark has almost 200 stores across Ireland, the UK, Spain, Netherlands, Germany, Belgium and Portugal. Primark’s annual turnover accounts for a significant proportion of ABF”s revenues and profit. Primark’s target customer is fashion-conscious and wants value for money. Primark can offer value for money by: • Sourcing products efficiently • Making clothes with simpler designs • Using local fabrics and trims • Focusing on the most popular sizes • Buying in volume • Not spending heavily on advertising. The largest Primark store is located on Market Street, Manchester, England. Some 100,000 sq ft (9,300 m2) of retail space is spread across its three floors. It took...
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...Competing Values Framework 2-3 2.0 The Organisation 3 3.3 The Rational Goal Model 3-4 3.4 Primark and the Rational Goal Model. 4 3.0 The Challenge: Ethics 4-5 4.5 Primark and Ethics 5-6 4.0 Recommendations 6 5.0 Conclusion 6 6.0 References 7 1.0 Introduction: Primark is one of the UK’s leading clothing retailers with stores located in various regions throughout Europe. The brand is best known for its low-cost, budget clothing. Its success is based on producing high quality clothes with super-competitive prices as a result of technology, efficient distribution, high volume supply and demand and low labour costs. The management theory underpinning Primark is the Rational Goal Model which focuses on maximisation of output. The investigated challenge which Primark faces is business ethics. “Ethics refers to a code of moral principles and values that guide human action by setting standards of what is acceptable” (Boddy 2008; p.148). 1.1 Management: Management is the activity of getting people...
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...Earthquake The strongest earthquake in 25 years in Northern California's Bay Area struck early Sunday, injuring dozens of people, damaging historic buildings in downtown Napa and turning fireplaces into rubble. The 6.0-magnitude quake struck just six miles southwest of Napa, California's famed wine country. Nearly 160 were treated for minor injuries at the emergency room at Queen of the Valley Hospital, though hospital CEO Walt Mickens could not confirm that all of those patients were injured in the earthquake. Plate tectonic California San Francisco seems like a city living on the brink of disaster. Its residents know that I lies along the San Andrea’s fault, where the pacific moves north westwards past the North American plate. The two move in the same direction but the pacific plate moves more quickly, this creates friction. This is called a conservative plate boundary. The San Andreas Fault is the fault line between them. It runs along the Californian coast from Los Angeles north to San Francisco. Other fault lines run parallel to the major fault; San Francisco is built over two of them. The 1989 Loma Prieta earthquake * Date and time- 5;04pm, 17th October 1989 * Magnitude and locations 7.1; epicenter -loma prieta in the Santa Cruz mountains * A magnitude 5.2 aftershock struck the region 37 minutes after the main earthquake * 63 people died and 13757 were injured (most were killed when a freeway collapsed) * 1018 homes were destroyed...
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