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Paul Marchant's arrival as Chief Operating Officer of Primark from his previous position as Senior Director of cheap chic retail rival New Look has once again sparked up quite the debate over one of, if not the most talked about retailers on the High Street.
 Fuelling further speculation over founder and executive chairman Arthur Ryan, pending his upcoming 73rd birthday in July, stepping down from his position and providing less input towards the daily running of the super savers favourite fashion house. Product of head hunter, Galen Weston, father of ABF's current Chief Executive, George Weston, Ryan was discovered in Dunnes stores in the 60's transforming the retailer from a single Penneys store on Mary Street in Dublin into a retail emporium with 173 stores throughout Great Britain.
Marchant's promotion abruptly followed a management restructure within his previous employer at New Look in April. Prior to New Look's management reshuffle, Chief Executive, Phil Wrigley became Executive Chairman and Managing Director of Marketing, Carl McPhail, Operations and International was promoted to Chief Executive and Marchant had been Director of Buying, Merchandising and Design since joining Primark's team in January 2005. Marchant's previous experience consists of Director of Womens and Childrenswear at Debenhams.  Primark's revolutionary introduction of the cheap chic shopping culture into the retail kingdom was founded as Penneys by Ryan in 1969 in Ireland evolving over time into the empire it is today. This March, its share of the clothing market increased to 10.1% gradually diminishing margins between rival retail giant M&S currently holding an 11.4 stake within the retail sector. Within the 24 weeks prior to March, Primark notched up a 22% rise in operating profits to £111 million leaving its jaw dropping competitors in the dust. Primark, owned by Associated British Foods currently owns 173 stores throughout the UK and is set to invade overseas, opening another eight over the next 5 months, 4 of which in Spain with Germany, Portugal and Netherlands in the pipeline for 09. Share this Article:                        Advertisement |
