The bad news: Primark is raising prices – including in Portugal
For the first time in a long time, a low-cost retailer will check the basic values of clothing and accessories.
Known as the giant of affordable fashion, Primark is taking the lead in fast fashion brands. The chain could not withstand inflationary pressures and is preparing to raise prices for articles in the autumn-winter collection. The spring-summer line, which is currently available in stores, will not be affected by this increase.
The rise in inflation in the United Kingdom led the brand-owned Associated British Foods (AB Foods) group to announce that the price list will be revised in the second half of the year.
The British multinationals said in a statement that “Primark cannot offset all inflationary pressures with cost savings that must be reflected in the value of some products in the September-winter range.”
Despite this rise in prices, the company’s CEO George Weston says Primark will continue to pursue “competitive pricing,” which is its strength. He also stresses that the brand is not obsessed with the increases, but “this is the highest inflation in 30 or 40 years.” In the United Kingdom, inflation rose 7 percent last March.