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Can Primark Survive The Growing Demand For Ethical Clothing?

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Can Primark Survive The Growing Demand For Ethical Clothing?

Can Primark Survive The Growing Demand For Ethical Clothing?

When mighty Primark opened in Germany, it had high hopes its bargain prices would be irresistible to frugal Teutonic shoppers.

They were – and people travelled from all over to shop in Bremen and Frankfurt.

A decade on, Primark is being made a pariah by a new generation of socially and environmentally conscious Germans.

George Weston, chief executive of parent company Associated British Foods (ABF), claims his problems there are mere of perception:

“We haven’t done a good enough job of correcting misconceptions for the supply chain ethics and the sustainability credentials of this business,” he told City analysts last month.

Yet Primark tried to sell ranges that were too modern for locals – and some of its 30 stores are too big.

ABF’s share price has dropped by almost a fifth since 2014, trading at just less than £25.

Primark, which has been around for 50 years, has acted quickly.

It reshuffled its top team to stop sales from falling, but finance director John Bason “won’t put any targets” on its turnaround.

Read the full article on The Telegraph >

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