Primark brand value 2020-2024

The brand value of fast fashion retailer Primark has been declining for several years. In 2024, the brand was valued at 2.09 billion U.S. dollars, down from over 2.6 billion just three years prior.

Primark brand profile

Primark (known under its original name Penneys in the Republic of Ireland) is a Dublin-based value retailer of clothing, accessories, beauty products, and homeware. The company was launched in 1969 and has expanded its product portfolio and global presence ever since. Data from its parent company ABF showed that the number of Primark stores has more than doubled since 2008, now standing at nearly 400 locations across 14 markets. And yet, despite its ongoing expansion and popularity among shoppers, the retailer experienced a revenue decline in 2020 and 2021. However, Primark's revenue increased in 2022.

Which fashion brand is in vogue?

Even though Primark ranked third among the most valuable Irish brands worldwide in 2023, the company cannot compete with other global fashion retail giants. H&M, for example, was valued at over 12.7 billion U.S. dollars, whereas ZARA was worth nearly 13 billion. The most valuable apparel brand worldwide in 2022 was the athleisure brand Nike. However, it should be highlighted that clothing and accessories from this company can be purchased across various retail locations and not only Nike stores. Another factor that sets Nike apart from fast fashion brands in its category includes the high price point of the apparel maker’s clothing items and footwear.